Darspal S Mann
Long/short equity, growth at reasonable price, special situations, deep value

Comeback Of Profitable Growth Should Take Vitesse Higher

Executive summary:

  1. First time in many years, Vitesse (NASDAQ:VTSS) is growing revenues, expecting profitability and is in a net cash position
  2. Growth rate of leading indicators like design wins and new product revenues is accelerating
  3. There is a big gap between earnings potential for 2014 and street's expectation of a loss
  4. Near-term, the stock has potential for more than 50% gains

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Vitesse Semiconductor Corp. (VTSS) stock has not done much in the last few years. For last many years, Vitesse was a technology company with negative growth and a net debt position in a sector that was going through capital expenditure constraints.

Much has changed in the last few months to warrant an in-depth...

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