CJ, I'm pretty familiar w ACTL, as I used to sell there products (as well as ALTR). I've also traded the stock successfully on a few occasions. Unfortunately the company I'm with at the present does not distribute ACTL, so my visibility is pretty limited. However, on a valuation basis alone vs. ALTR and XLNX (and to a lesser extent AMD, Lattice, and ATML) ACTL is pretty attractive @ 13x '98 earnings (.92 per 1st call).
I nibbled on a small buy today at 11 3/4. Long term, I think its a great entry point, but I'm still concerned that there may be a warning prior to earnings on 1/27. I just heard that ATML warned after the bell today. Unless the numbers are slashed dramatically, ACTL still has fairly limited risk from this level and a substantial upside (30% yr. growth). The EPLD / FPGA market is still a great sector within semi's.
ACTL will probably remain a niche player vs. ALTR and XLNX as long as they stick exclusively with anti-fuse based technology. I had heard some time ago that they were coming out with SRAM based parts, and would like to hear if anyone has updated product information in this regard.
I wish you the best of luck with your ACTL position. It sure would be nice to see more posters on this thread.
Regards,
Larry |
