SEMX Corp. Update
Nasdaq Symbol: SEMX
Current Price: $2.05
10:00 PM
December 26, 2001
By: Jim Salim, longandshortreports.com
Today, SEMX announced the signing of a letter of intent to sell its wafer reclaim division. According to the company, the transaction will close in 45 to 60 days. The company did not disclose the buyer or the price at which the unit was to be sold. In my original article of October 15, 2001, I stated, "I feel the division will get sold shortly followed by a sale of the entire company." In my opinion, this was both a certainty and a necessity.
The sale of this division now leaves SEMX poised for either the sale of the entire, remaining company, or a sharp business turnaround. Today's announcement was a classic case of a management that is so unskilled in the area of public relations that they did not disclose the sale price of the unit or the buyer. Yet, from a business, and more importantly for us, an investment standpoint, SEMX is a well-run company that is currently hidden under the radar due to this very problem of being unskilled in public relations efforts.
It is my opinion that year-end tax-loss selling has given us one last opportunity to profit. With SEMX stock trading at $2.05 per share, this issue looks extremely undervalued now that the wafer reclaim division has more than likely been sold. |
