15/02/2024 16:48

Altium (ALU) $66.00

ALU +28.47%: Ouch! Never a nice feeling when a stock that we recently sold gets a takeover bid at a ~34% premium. Today, Japanese semiconductor maker Renesas Electronics agreed to buy software firm Altium for $9.1bn / $68.50 per share, in what is the biggest acquisition yet of an Australian-listed company by a Japanese buyer.

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31/01/2024 09:10

Switch Altium (ALU) into Orora (ORA)

Year-to-date, the performance between these two names has been fairly similar, with ORA up +6.2% and ALU +4.8%, but over the last 5 months, it's been a very different story with ALU adding ~40% while ORA has dropped by over -30% following its capital raise to buy Saverglass in 2023. This is clearly not a like-for-like switch, but such a move fits our desired portfolio characteristic positioning moving forward.

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19/01/2024 09:08

Altium Ltd (ALU) $46.91

 There is no change, with ALU edging higher this year even as yields reversed. We see no reason to doubt our view that the stock can squeeze higher into its February report after surging ~30% after its last update. Who wants to be short this time? We are considering adopting a “buy on rumour, sell on fact” attitude if such a move materialises

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16/01/2024 08:41

Altium Ltd (ALU) $46.79

ALU surged higher when it reported in August; hence, we can see it running higher into its result on the 20th of February, which could provide an ideal opportunity to lock in a profit above $50, i.e. “buy on rumour, sell on fact” but in reverse. MM believes ALU is a great company, but it will be fully valued at around $50, especially as the Tech Sector looks stretched.

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21/12/2023 09:00

Altium (ALU) $47.16

We are overweight the Tech Sector at this stage, holding Altium (ALU) and Xero (XRO), which, importantly, is a sector whose stellar outperformance we believe is maturing fast. Hence we do anticipate cutting at least one of these holdings over the coming weeks.

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14/12/2023 09:09

Altium Ltd (ALU) $46.84

ALU has rallied over +32% year-to-date, with much of the gain enjoyed after the company's strong result in August. The company delivered an encouraging investor day in November when they were optimistic about their ability to penetrate the Enterprise PCB software market, which is on track to double in size to $1.6bn by 2030.

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30/11/2023 09:13

Altium Ltd (ALU) v APA Group (APA)

ALU, like most of the Tech Sector, has enjoyed a solid 2023, advancing +26% year-to-date, but again, the last few months have proved disappointing as the stocks corrected 21% after an aggressive drive higher following an impressive result in August.

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10/11/2023 09:46

Altium Ltd (ALU) $42.16

ALU surged in August after reporting earnings ahead of expectations for FY23 in both composition and numerical terms. We rate their management team highly, making this our favourite local tech stock with a scalable business model. The company doesn’t report until February, taking that risk off the table for the foreseeable future.

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05/10/2023 09:35

Flagship Growth Portfolio – Amendments

We are tweaking the Flagship Growth Portfolio, selling an underperformer to buy a high quality tech stock.

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05/10/2023 09:02

Altium Ltd (ALU) $41.95

ALU surged around 35% after the software provider reported strong results in August. Earnings were ahead of expectations for FY23, but more importantly, the composition of their earnings improved, underpinning better guidance – this is one local tech business that should be able to enjoy strong moves by its US peers.

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