Stephen Rosenman
Long/short equity, deep value, special situations

Anadigics: Overpriced Even At $2

Anadigics (NASDAQ:ANAD), a $177 million market cap designer and manufacturer of RF semiconductor solutions for cellular wireless, WIFI and infrastructure applications, hasn't been able to break into the big leagues despite an 18-year history as a public company. After maxing out at $100 in 2000, the stock has been a chronic disappointer, currently selling at $2.12 - a far cry from its internet days.

Even at this low share price, it is my contention that Anadigics is still overvalued and has much further to fall, possibly revisiting its $1.71 lows experienced a few months ago. Time after time, Anadigics appears to be on the verge of profitability, only to disappoint. I believe Anadigics will once again fail...

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