It's the slimmest of pickings this day in the net/net land, a place that no publicly traded company would go by choice. With just three U.S. companies with market caps in excess of $100 million currently trading below net current asset value, Richardson (RELL) appears to be the best of the bunch. The others are Trans World Entertainmant (TWMC), and Imation (IMN).
Richardson currently trades at just .86 times NCAV, and the quality of the balance sheet is excellent, including $130.5 million, or $9.30 per share in cash and short-term investments.Considering the company's current $10.23 price, that's compelling. The company has no debt, and trades at .81 times tangible book value, and currently yields 2.4%
While still profitable, which can sometimes be uncommon for net/nets, revenues and profits have been sliding.
Richardson is scheduled to report fourth quarter and full year results on July 23rd.We'll be particularly interested in whether the company has maintained or grown its cash and short-term investment balances.
Richardson Electronics (RELL)
Market Cap: $143.5 million
NCAV: $166.3 million
Mkt Cap/NCAV: .86
Cash: $97.2 million
S/T Investments: $33.3
Tangible Book Value/Share: $12.56P/TBV: .81
Trailing P/E: 85
Dvd Yield 2.4%
*The author has a position in Richardson Electronics. This is neither a
recommendation to buy or sell any securities. All information provided
believed to be reliable and presented for information purposes only
Friday, July 18, 2014
Wednesday, July 16, 2014
The Top Benefits of Attending the Value Investing Congress
The 10th Annual New York Value Investing Congress is just weeks away (Sept. 8-9), but there’s still time to get your seat and enjoy the many benefits of attending the Congress in-person:
· Speaker Wisdom – Congress speakers explain their stock ideas with detailed, well-reasoned analysis. But the presentations are not live-streamed or distributed afterwards, so only onsite attendees benefit from the brilliance of these successful money managers.
· Audience Q&A – Congress attendees are savvy, professional investors and their insightful questions often clarify and expand on a speaker’s investment thesis. As with speaker commentary, live Q&A is only available to onsite attendees.
· Exclusive Information – The Congress is closed to the media and live bloggers-- our attendees benefit first from actionable information.
· Great Networking – The VIC Cocktail Reception has become a favorite among attendees for sharing new ideas, creating new business opportunities and making friendships that can last a lifetime.
Register now and benefit from attending the Congress in-person. But seats are strictly limited to 275, so we encourage Cheap Stocks readers to register now, before we sell out.
For a special Cheap Stocks Discount, register now with Offer Code: CHEAPSTOCKS at http://www.valueinvestingcongress.com/congress/register-now-partners/
Confirmed Speakers include:
- Leon Cooperman, Omega Advisors
- Sahm Adrangi, Kerrisdale Capital Management
- Carson Block, Muddy Waters Research
- Andrew Left, Citron Research
- Alexander Roepers, Atlantic Investment Management
- Jeffrey Smith, Starboard Value
- Amitabh Singhi, Surefin Investments
- Guy Spier, Aquamarine Fund
- David Hurwitz, SC Fundamental
- Michael Kao, Akanthos Capital
- Guy Gottfried, Rational Capital Management
- Adam Crocker, Metropolitan Capital Advisors
- Whitney Tilson, Kase Capital
- John Lewis, Osmium Partners
- Tim Eriksen, Eriksen Capital Management
- Cliff Remily, Northwest Priority Capital
- With more to come!