Seeking Alpha
  • LookSmart: Clickable Is Gaining Traction But Overshadowed By Near Term Liquidity Risk
    LOOK Today, 7:26 PM Bram de Haas Comment!

    Summary

    • Legacy business continues decline while Clickable.com is gaining traction.
    • Snowy August Management LLC advanced certain funds to the Company in the aggregate amount of in $750,000..
    • It is highly likely there will be an additional capital raise or (partial) sale of the business early or halfway through 2015.
    • I remain long because my calculations show that even after a highly dilutive offering (doubling shares outstanding) the stock has multi bagger potential.
  • Demandware: Don't Ignore The Competition
    DWRE Today, 6:35 PM Focus Equity Comment!

    Summary

    • Demandware has been witnessing impressive growth lately, thanks to the growth of digital commerce.
    • E-commerce is set to witness double-digit growth. There seems to be unanimity among research firms about that.
    • Competition is flocking towards the industry, and Demandware doesn't hold a clear leadership position.
    • Therefore, inflated valuation, based on strengths that can be replicated by competitors, is not justifiable.
  • Cisco Pullback Brings Yield Above 3.00%
    CSCO Today, 3:10 PM Bill Maurer 1 Comment

    Summary

    • Cisco shares have pulled back 9.4% from their 52-week high.
    • Dividend yield now 3.06% on an annual basis.
    • Shares between 50-day and 200-day moving averages.
  • BlackBerry: Brace Yourself For An Ugly Quarter
    BBRY Today, 2:46 PM Shock Exchange 126 Comments

    Summary

    • BlackBerry reports fiscal Q4 results before the market opens on Friday.
    • SAF is in free fall, inventory build may drain cash flow and software revenue is not expected to ramp up until fiscal Q1 2016.
    • I am bracing myself for an ugly quarter.
  • Analyzing Apple's Expected Cash Dividend Increase In April
    AAPL Today, 2:35 PM Neil Cybart 50 Comments
  • If You Think Facebook's Stock Is A Trap, Keep This In Mind
    FB Today, 2:22 PM Brian Nichols 19 Comments

    Summary

    • FB's valuation has grown to nearly $240 billion, but it might still present a good investment opportunity.
    • The reason lies in its ARPU, and its disconnect from GOOG.
    • New services like video and payments could add an extra $1 each to ARPU, and FB will continue to gain from ad pricing growth.
  • Windows 10 A Meaningful Catalyst To Microsoft's Consumer Division
    MSFT Today, 1:23 PM Alex Cho 6 Comments

    Summary

    • The number of app developers for Windows 10 across all devices is expected to double in 2015.
    • Microsoft will implement various features from one app to the next in hopes of building a stickier application ecosystem.
    • While the strategy has been used before, it's nice to see Microsoft integrate the marketing function into its apps.
    • I anticipate that Microsoft's consumer segment will recover in FY 2016 due to new products and improved marketing.
  • Apigee Gambles On Being First Out Of The Gate With Its IPO
    APIC Today, 12:29 PM Khurram Aziz Comment!

    Summary

    • Apigee is a San Jose-based company that makes cloud software.
    • The company offers an "API management and predictive analytics platform."
    • Apigee wants to raise $86 million on a total valuation of $700 million.
    • Apigee represents a shift from traditional business to a more dispersed business model.
  • Lexmark International: Kofax Deal Makes Strategic Sense, But Doubts Remain About Price
    LXK Today, 12:14 PM The Value Investor Comment!

    Summary

    • Lexmark International boosts its enterprise and software business with the acquisition of Kofax.
    • The strategic rationale makes perfect sense, as I find the price rather high.
    • Given the leverage incurred, the premium price paid and continued pressure on topline sales I remain cautious on Lexmark's prospects.
  • What's Up With Energous After First Development, Licensing Agreement Announcements?
    WATT Today, 11:55 AM Benjamin Padnos 5 Comments

    Summary

    • In its Q4 and Full Year 2014 Report released on March 9, Energous Corporation announced its first development and licensing agreement with a “tier one consumer electronics company”.
    • The pioneers of WattUp wire-free charging technology said the “agreement will enable Energous to accelerate commercial development” and is centered around “mobile consumer electronics and their related accessories”.
    • WATT shares gapped up following the announcement, but have since fallen for no apparent reason, creating a buying opportunity.
    • Following Oppenheimer’s “Outperform” initiation on March 19, potential near-term catalysts include additional institutions picking up research coverage, new licensing announcements, and progress updates on the first deal.
    • Author is long WATT and speculates on the partner making “milestone-based development payments” which are “more than sufficient to cover the total development expenses required for this project".
  • Lionbridge Has A Bright Future Ahead
    LIOX Today, 11:28 AM Ross Capital Comment!

    Summary

    • Lionbridge’s delivered revenue growth of 5% in fiscal 2014. Profit declined.
    • The market Lionbridge serves is expected to grow in the future.
    • Acquisition of CLS will allow the company to extract a bigger share of market growth.
    • A large order with an undisclosed pharmaceutical company will remove the impact of lost revenue from a previous client.
    • Lionbridge is undervalued by 70%.
  • SMTC Corp.: I Expect Higher Revenues And Profitability In 2015 And Beyond
    SMTX Today, 11:19 AM Micro-Cap Gem Finder 9 Comments

    Summary

    • 2014 was a transition year focused on improving gross margins led by new CEO Sushil Diman, previously an executive for competitor Sanmina Corp.
    • 4Q 2014 to be reported in a few days is expected to show significant revenue growth compared to the previous three quarters.
    • CEO Diman called 2015 an "exciting year." This might be because of the potential benefits of its manufacturing relationship with Spidercloud Wireless and other growth initiatives including acquisitions.
  • PROS Holdings, Inc. Is Geared Up To Capitalize On Demand
    PRO Today, 11:13 AM Sergio Heiber Comment!

    Summary

    • PRO has made key acquisitions.
    • PRO is ready to convert revenue growth into earnings growth.
    • PRO is in a unique position to capture market share.
  • Zebra: The Motorola Enterprise Unit Is On The Right Track
    ZBRA Today, 10:55 AM AtonRa Partners 2 Comments

    Summary

    • Q4 earnings and Q1 guidance failed to impress the Street.
    • But we believe the Motorola Enterprise asset, which has long been a source of concern, is now de-risked.
    • Enterprise’s integration is on track and revenue growth is ticking up.
  • DST Systems: Value, Growth And An Expected Earnings Beat
    DST Today, 10:55 AM Quantified Alpha Comment!

    Summary

    • Great value on an earnings and sales yield basis.
    • Strong momentum, EPS growth, and returns on both equity and assets.
    • Extremely small short float and insider buying.
    • Proven track record of beating consensus EPS and revenue forecasts.
    • Historically, March and April have been good months to buy IT stocks.
  • IPO Quiet Period Expiration: MaxPoint Interactive
    MXPT Today, 9:32 AM Don Dion Comment!

    Summary

    • MaxPoint offers business intelligence, marketing automation software, and digital advertising services in the U.S.; its 25-day IPO quiet period expires 3.31.2015.
    • On 4.1.2015, MaxPoint’s IPO underwriters, including Deutsche Bank, Goldman Sachs, Pacific Crest, Needham, and William Blair, can release research reports and recommendations.
    • Research has seen above-market returns of ~2% at firms’ IPO quiet period expirations in the days surrounding the event.
    • Investors might consider buying earlier than the expiration date for full gains.
  • Avago: Likely To Be A Multi-Year Strong Momentum Stock
    AVGO Today, 9:30 AM David Zanoni 1 Comment

    Summary

    • The stock is one of the better valued among the momentum-driven semiconductors.
    • Avago is expected to grow at a strong pace on sales strength from multiple segments.
    • I expect the stock to outperform over the next few years.
  • 3 Large Technology Stocks Down Over 15%
    IBM, INTC, MSFT Today, 9:30 AM Pat Stout 1 Comment

    Summary

    • Some market watchers have been disappointed that the S&P 500 Index has not declined 10%.
    • The S&P 500 Index might not have suffered a 10% decline, but many of the components have.
    • The dividend yield on the issues has increased; income seekers may wish to consider.
  • Apple Should Buy Vessel
    AAPL Today, 9:24 AM Alex Pitti 131 Comments

    Summary

    • Apple is approaching its TV subscription service the wrong way.
    • It doesn't need large cable companies to create a great product because millennials don't watch them.
    • The future of video entertainment looks something like Vessel.
    • This is why Apple should acquire it. It needs unique content that appeals to younger viewers to have a successful offering.
    • Traditional media websites are applauding Apple's move, but my young age gives me a unique perspective on the future landscape of video content consumption.
  • Sanmina: Sitting In The Sweet Spot Of Contract Manufacturing
    SANM Today, 9:17 AM Helix Investment Research 1 Comment

    Summary

    • Dramatic increase in opportunities to deploy capital are being overlooked by the market.
    • Dramatic declines in net debt have led to steep falls in interest expenses and increased financial flexibility.
    • Margin gap relative to peers continues to narrow, will all but disappear by fiscal 2016.
    • Price target of $29.06 may seem low, but it fails to account for optionality provided by share repurchases or further M&A.
    • Management focus is likely to shift in 2015 from deleveraging to deploying capital.
  • Ambarella: Priced For Perfection With Tendencies Toward Shareholder Dilution
    AMBA Today, 9:11 AM Advantage Capital Management 9 Comments

    Summary

    • 44.5x multiple on the stock represents best case outcome for revenue growth and business plan execution.
    • Officers and directors are selling stock while issuing dilutive stock options.
    • We believe AMBA is overvalued and represents a compelling short opportunity.
  • Facebook Is Too Rich And Too Famous For News Publishers To Ignore
    FB Today, 8:21 AM Alcaraz Research 5 Comments

    Summary

    • The news media companies should accept Facebook’s offer of hosting their content.
    • The 1.3 billion-plus user base of Facebook is a very rich monetization avenue for news sites.
    • Advertising-driven news dissemination is more viable than paid-subscription. Majority of people still do not want to pay for digital news.
  • Facebook: The Undervalued Stock That Will Pull Years Of Portfolio Growth Forward For Young And Old
    FB Today, 7:53 AM Dallas Salazar 51 Comments

    Summary

    • FB's "Businesses on Messenger" announcement yesterday was a game changer but I can show how we should have seen this coming.
    • I can also show, using analytics, that FB is undervalued in a big way without pricing in any of the Businesses on Messenger news.
    • FB, because of its consistency of innovation, has watched its EFY17 revenues, EBITDA, and net income estimates move higher and higher the last few years which has driven the stock.
    • I believe yesterday's announcement will bring the next round of recommendation, price target, and modeling upgrades which will act as a near term catalyst.
    • Consider a levered long position in FB - if history holds true it should pay out.
  • Qualcomm: Wait For The Accelerated Buyback To Kick In Before Buying
    QCOM Today, 7:00 AM Stone Fox Capital 6 Comments

    Summary

    • Qualcomm announced a large buyback plan with an accelerated portion to start during FQ3.
    • While the headline is attention grabbing, stock option grants could dilute the impact.
    • Research suggests only loading up on a stock based on buybacks after they occur and not prior.
  • AT&T's Buyback Report Card
    T Today, 6:51 AM Josh Arnold 25 Comments

    Summary

    • T has spent tens of billions of dollars in recent years buying back stock.
    • Share issuance is low, aiding the float reduction effort.
    • I'll tally T's numbers from its buyback to assess its effectiveness.
  • Facebook: F8 Conference Preview - All Eyes On Messenger
    FB Today, 5:37 AM WestEnd511 2 Comments

    Summary

    • FB will host its F8 developer conference Wednesday and Thursday.
    • Investors can expect updates on video, news publishing, ad partners, messenger, VR and app monetization.
    • The Messenger session could be particularly interesting with speakers' prior experience in behavioral change, photos, social networking and search.
  • Why I Am Finally Selling Vipshop Holdings Stock At All-Time Highs
    VIPS Today, 5:30 AM Brian Nichols 10 Comments

    Summary

    • Late last year I said to sell BABA and buy VIPS.
    • The trade worked out well, with BABA falling 25% and VIPS gaining as much.
    • However, I recently bought BABA, and am now selling VIPS.
    • The reasons are rather obvious, or at least for why I am selling VIPS.
  • HubSpot Should Rekindle Share Price Growth With This Acquisition
    HUBS Today, 5:28 AM Dallas Salazar Comment!

    Summary

    • HUBS acquisition of Rekindle bigger than most will assume.
    • I believe HUBS bought Rekindle, which is hugely valuable to its platform as-is, to alter the technology to be able to make further smart suggestions within the HUBS platform.
    • HUBS shares have stalled out recently and have traded range bound but this should get growth going again.
    • I remain long HUBS and recommend a long position on all durations.
  • IPO Preview: SolarEdge Technologies
    SEDG Today, 2:15 AM IPOdesktop 2 Comments

    Summary

    • A leading provider of intelligent inverter solutions that are changing the way power is harvested and managed in solar PV systems.
    • Rev. +141%. SolarCity accounted for 19.1% of rev. in '14.
    • Market expected to grow 46%, compound annual growth rate.
    • Annualized (tax sheltered by losses) P/E of 40; annualized price-to-sales of 1.7. 21% gross profit, up from 12%, as top line rev. grows.
    • Net income 4% of rev., up from a 23% loss. Price-to-book of 4.
  • Allied Motion: Earnings Impress Yet Again
    AMOT Today, 1:22 AM Kumquat Research 2 Comments

    Summary

    • Allied Motion Technologies reported Q4 and full year earnings March 11.
    • The company is making a trend if recording impressive earnings results.
    • The stock price has skyrocketed over the past 6 months, but this earnings report demonstrates that it is not yet overvalued.
  • AT&T: A Bird In Hand Is Worth 2 In The Bush
    T Today, 1:01 AM David Alton Clark 43 Comments

    Summary

    • AT&T is in the midst of a major industry shake up that may hamper profits. Nonetheless, the stock has actually held up quite well.
    • Furthermore, it’s hard to ignore the company’s superior dividend yield. AT&T has a higher yield than any stock in the Dow at 5.68%.
    • In the following article I will explain why AT&T takes the cake when it comes to a great total return opportunity.
  • 3D Systems: Short Interest Hits New High
    DDD Today, 12:58 AM Bill Maurer 13 Comments

    Summary

    • Short interest has topped 38 million shares.
    • More than 36% of float now short.
    • Stock near 52-week low as company continues to disappoint.
  • More Woes For Intel: Chip, Chip, Chipping Away At Chipzilla
    INTC Yesterday, 9:27 PM Anchorite 47 Comments

    Summary

    • Intel recently reported that its first-quarter revenues would be down about a billion dollars.
    • Lower revenues from desktop forecasts will probably continue.
    • Without pickup elsewhere, Intel's "mid-single" digit sales increase for 2015 is a mirage.
  • Apple: Debunking The Recent Cowen Survey
    AAPL Yesterday, 6:29 PM Michael Blair 118 Comments

    Summary

    • The Cowen survey of 3,000 smartphone users claims rapid defections from Android to iOS.
    • The survey is all well. The hard data show very few defections from either platform.
    • What's more, the Cowen survey is riding the wave of iPhone 6 enthusiasm without the impact of the new Samsung S6. A bit like one hand clapping.
  • Which Chip Equipment Stock Is Best For Your Dividend Growth Portfolio
    KLAC, LRCX, TER Yesterday, 6:05 PM Cory Renauer Comment!

    Summary

    • Fears of lower capital expenditures by larger chipmakers have depressed chip equipment stocks.
    • As a result, some great companies are looking reasonably priced.
    • I compare profitability metrics for KLA-Tencor, Lam Research, and Teradyne.
  • The Zendesk Story Is All Coming Together With Its Facebook Partnership
    ZEN Yesterday, 6:02 PM Dallas Salazar 5 Comments

    Summary

    • ZEN's announcement today that it is partnering with FB to help facilitate FB's new "Businesses on Facebook" initiative is huge for many reasons.
    • This positions ZEN as a mid-term M&A option for FB as well as plenty of other companies.
    • I also believe this partnership will lead to massive amounts of operating leverage for ZEN as it's able to decrease S&M spending in the immediate term.
    • I expect ZEN to have a huge 12-18 months in front of it when it comes to revenue growth and customer acquisition.
    • Today will be remembered as a defining moment in the history of ZEN, be long this moment and ride the ZEN wave.
  • Rising Competition Could Lower Nokia's Valuation By Up To 10%
    NOK Yesterday, 5:32 PM Trefis 31 Comments

    Summary

    • In our present valuation of Nokia, we forecast its wireless market share to increase from an estimated 18.3% in 2014 to almost 19% by the end of our forecast period.
    • We also forecast its Networks EBITDA margin to remain flat at around 15-16% going forward.
    • In this article, we discuss scenarios that could impact our $8 price estimate for Nokia.
  • How Facebook Can Use Messenger Platform To Create Billions Of Dollars
    Editors' Pick FB Yesterday, 5:26 PM Brian Nichols 44 Comments

    Summary

    • FB unveiled Messenger Platform at its f8 conference on Wednesday.
    • While most are talking about ESPN and the Weather Channel as application partners, I am more focused on the retail aspect of this new service.
    • Through retail and other recently announced payment services, FB has a legitimate chance to compete against EBAY and WU long term.
    • Lastly, FB is even set up nicely to compete against MA and V as a payment processor.
    • The end result could be billions of dollars annually, a payments segment that's just as large as advertising for FB.
  • Yelp: A Bull Case
    YELP Yesterday, 5:06 PM Musings of a Banker 3 Comments

    Summary

    • Acquisition of Eat24 helps its focus on a niche market.
    • Smaller and more nimble firms are the biggest threat to Yelp.
    • My DCF valuation shows there could easily be 20% upside to current prices.
  • Veeco Instruments: Inflection Point Seems To Have Arrived
    VECO Yesterday, 4:53 PM Vince Martin 1 Comment

    Summary

    • VECO's trailing fundamentals look horrible; revenue has collapsed, profits have turned to losses, and shares have been range-bound for years.
    • Overcapacity worldwide, but most notably in China, is finally starting to abate, and the company looks set to return to profits in 2015.
    • VECO's market dominance and expected continued growth in the LED space means the stock is worth a long look.
  • Western Digital Pushes Ahead With Power-Efficient Enterprise HDDs
    WDC Yesterday, 4:49 PM Trefis Comment!

    Summary

    • The newly-introduced hard drive could boost unit sales in the coming quarters and help the company defend its market share against competitors such as Seagate.
    • According to our estimates, the enterprise and cloud storage division makes up about 36% of our $104 price estimate for Western Digital's stock.
    • The company had a lackluster 2014 in terms of enterprise hard drives sales with unit shipments stagnating compared to the previous year.
  • EMC Shares Are Cheap And A VMware Spin-Off Could Still Be A Future Catalyst
    EMC Yesterday, 3:50 PM Hawkinvest 2 Comments

    Summary

    • A pullback in EMC shares is a buying opportunity.
    • Investors are disappointed by a few recent events such as earnings results, dollar strength and no timeline for CEO succession or a VMware spinoff.
    • EMC shares are trading at strong support levels and the stock is cheap which means downside risks could be limited.
    • A strong balance sheet, rising dividend and the 80% stake in VMware (worth about $25 billion) makes the stock even more attractive.
  • JA Solar - Pushing Ahead Of The Pack
    JASO Yesterday, 3:32 PM Simple Investment Ideas 2 Comments

    Summary

    • JA Solar is rapidly becoming one of the solar industry's module efficiency/quality leaders.
    • JA Solar was the fastest growing major solar manufacturer in quarter 4 by module shipment, which validates the company's intense focus on efficiency and quality.
    • While JA Solar's increasing margins, record growth, and technological edge has it well-positioned, the company faces obstacles in the form of ever-increasing high-efficiency solar manufacturers crowding the space.
  • Pandora: Keeping Competition In Check
    P Yesterday, 3:27 PM Musings of a Banker 12 Comments

    Summary

    • Proven ability to sustain itself amid increasing competition.
    • Price/sales ratio at a low point.
    • New business strategies are emerging.
  • Yahoo Is A Value Investment
    YHOO Yesterday, 3:17 PM The Panoramic View 16 Comments

    Summary

    • Pinterest's recent funding raise shows just how little the market thinks of Yahoo proper.
    • Yahoo proper will likely be acquired at a significantly higher price than what the market is currently pricing after Yahoo spins off its Alibaba shares.
    • Yahoo shares are undervalued.
  • Who Benefits From End Of Cloud Price Wars
    AMZN, MSFT, IBM Yesterday, 2:42 PM Dana Blankenhorn Comment!

    Summary

    • A new report from RBS says the cloud price wars may be ending.
    • This benefits the present market leaders, who can now seek to profit from their positions.
    • Look to Amazon for its infrastructure, Rackspace for its platform and Microsoft for its SaaS offerings.
  • Why I Think LinkedIn Has The Potential To Excel In The Social Media Space
    LNKD Yesterday, 2:16 PM Michael Grogan 2 Comments

    Summary

    • LinkedIn has generated a Jensen's alpha of 0.07% over the last 250 trading days.
    • In my opinion, Facebook and Twitter are over-reliant on advertising revenue to sustain their business models.
    • LinkedIn has promoted high levels of social engagement along with a successful premium subscription plan.
    • For this reason, I take a long view on LinkedIn.
  • Energous: More Reasons To Be Dubious
    Editors' Pick WATT Yesterday, 1:57 PM Paulo Santos 37 Comments

    Summary

    • I did further digging on Energous.
    • I ended up finding further signs to be dubious of Energous' prospects.
    • I believe Energous' story was legitimate at inception, but has been hijacked to use in a stock promotion.
    • This is so regardless of whether Energous' technology pans out or not.
  • Twitter's PR Multiple Is Ridiculous
    TWTR Yesterday, 1:53 PM Stock Traders Daily 10 Comments

    Summary

    • TWTR offers no value to investors in our opinion.
    • The company is constantly in PR mode as well.
    • And 'Random Walk' Demand appears to be at play here.
  • Resonant: Be Greedy When Others Are Fearful Following Dramatic Selloff
    RESN Yesterday, 1:26 PM Benjamin Padnos 53 Comments

    Summary

    • Resonant is a development stage company that creates filter designs for radio frequency front-ends for the mobile device industry. High-flyers Skyworks Solutions, Avago Technologies, and Qualcomm are mature stage comparables.
    • On March 9, Resonant announced it had signed its second customer, sending shares up to the mid $14s in after hours trading.
    • A day later, a flood of anonymous, unfavorable articles and negative comments hit on numerous Internet finance sites and chat/message boards, leading to a major selloff in RESN shares.
    • Author, who is long Resonant, believes the selloff has created a buying opportunity for aggressive investors.
    • Author believes Resonant is close to a royalty deal with its initial customer, Skyworks, and that securing a second customer gives it significant negotiating leverage with SWKS.