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This is a follow-up to my earlier article on SiRF entitled SiRF Technology Holdings Experiences Wipeout.

I am completely out of SiRF (Nasdaq: SIRF) as of today. I sold half my shares on Friday and sold the rest Monday morning while the stock was still positive but starting its downtrend.

Why did I get out?

* I didn’t like the price action the last couple of days as we saw no major rebound. I wanted to get out while I was still up and ended up with a small profit. Plus, I am little bearish as far as the overall market is concerned.
* I still think SiRF is a good company with a bright future but there is no point falling in love with a stock. I am going to closely monitor the stock and maybe get back in the near future when I feel like it has been overly punished.
* The cell phone GPS market is going to be huge but there is more competition in that arena then in the Personal Navigation Device (PND) arena. Check out this new GPS chip from Epson. This new chip is supposed to be the world’s smallest. I had no idea Epson made GPS chips to begin with let alone the world’s smallest.
* There was also Barron’s mention about SiRF’s high multiple.

I still like the GPS sector and am looking into Navteq (NYSE: NVT).

Source: Why I'm Selling My SiRF Position