ST Microelectronics: Valuation

By Vijay Nagarajan, Guest Author I value ST Microelectronics at just under $15 per share. This is about 30% more than its current value. Its strengths include its broad portfolio, its position in the strengthening European block and its resultant wireless business outlook. The operating constraints caused by STM’s geopolitical ties are growth deterrents. Its

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Catching Up on Readings: Hydro Alchemy

Since the last catching up list on April 26, you may have accumulated more backlog. What’s with the Yahoo-Microsoft frenzy? Here’s a quick cache of the articles since then that you may want to make sure you read:

Microsoft’s Shopping List

Let Yahoo deal with its mess, Microsoft should go cold turkey on them for a year now, and let Jerry Yang get fired for failing to create shareholder value. A far more interesting question looms on the Microsoft side. What is Microsoft’s Internet strategy going forward?

3G iPhone and Qualcomm

By Vijay Nagarajan, Guest Author The 3G iPhone rumors are getting more frequent by the day. We all know it will hit the market. It is just a question of when. I have, in the past, looked at the likely component vendors for the impending iPhone including Infineon and InterDigital. As requested by one of

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Qualcomm: Valuation Revisited

By Vijay Nagarajan, Guest Author It has been around six months since I wrote my Qualcomm valuation series. I had at that time valued the company at $44.60. Following the company’s fiscal second quarter 2008 earnings conference call I reviewed its mobile opportunities, strategy and also its product strategy for convergence and mobile computing in

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Marvell: Valuation

By Vijay Nagarajan, Guest Author I value Marvell at $21 per share. As we have evaluated in this series, the company draws its strengths from the stable revenue coming from its storage, ethernet and WLAN businesses. Its primary weakness is its perceived inability to control its expenses that have resulted in a poor profit/loss record

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Travel Ad Network Raises Series A

Travel Ad Network (TAN), the largest vertical ad network in travel, just closed a $15 million Series A round of financing led by Rho Ventures, Village Ventures and individual investors. And what a Series A it is! $50-$75 Million valuation, estimated in my deal radar post and commensurate with the trends in the industry set

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Vertical Ad Networks: Evolution

Another big funding round in the vertical ad network world: FM raises between $40 and $50M from Oak Investment Partners. Valuation: $200 Million; 2007 Revenue: $25 Million; 2008 Revenue Forecast: $60 Million. Not bad!