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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22/09/2023 09:12

Altium Ltd (ALU) $44.50

ALU was also re-rated up ~25% after the software provider reported very strong results last month that highlighted the momentum building in their business. Their earnings were ahead of expectations for FY23, but more importantly, the composition of their earnings improved underpinning better guidance – another quality tech company delivering to shareholders that we have successfully owned in the past.

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22/08/2023 17:01

Altium (ALU) $46.44

ALU +25.92%: A huge session for the software provider that underpins the design and manufacture of printed circuit boards (PCB’s) after they reported results overnight that were strong and ahead for FY23 and their guidance for FY24 was also better than consensus.

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22/08/2023 09:32

Altium (ALU) $36.88

The software provider that underpins the design and manufacture of printed circuit boards (PCB’s) reported results overnight that were strong and ahead for FY23 and their guidance for FY24 was also better than consensus.

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27/07/2023 09:32

Xero Ltd (XRO) v Altium Ltd (ALU)

So far in 2023 XRO is up +71% while Altium (ALU) has only gained  +7% i.e. another potential candidate for some performance catch-up.  We can see XRO pulling back in line with US tech names but at this stage, we have tweaked how we intend to play this stock given the explosive re-rate it has had. For a time, XRO was one of our largest weightings in the Flagship Growth Portfolio, however, we did trim the position back in May at ~$109, affording us some further flexibility with the balance of our holding, ultimately can see the $130-$140 area on the upside hence we’re unlikely sellers.

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02/05/2023 09:09

Altium Ltd (ALU) $37.56

MM continues to rate ALU as a quality business but it looks fully priced trading on 50x Est 2023 earnings, while the stock doesn’t report until August it wouldn’t want to miss on any level while carrying this sort of valuation.

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28/04/2023 09:18

Altium Ltd (ALU) $38.58

Back in mid-2021 US engineering software giant Autodesk (ADSK US) walked away from its $5.25bn / $40 tilt at ALU after the two companies couldn’t agree on a price – the initial written bid was at $38.50 but the US company claimed they offered $40 verbally and still failed to gain traction. This is one deal we believe has gone cold but ALU remains a quality tech company with a very strong growth outlook ahead, and importantly, a track record of executing on their stated plans, our only real concern and this drive our recent sale is around valuation – we believe ALU is fully priced.

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