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. The other key focus points were Altium365 cloud growth and evolution into electronic lifecycle management and their continued focus on core PCB (printed circuit board); they’re bread & butter. We like ALU but believe it will be getting “rich” if/when it tests the $50 area.
- We are initially targeting new all-time highs, around 7% higher, where we will consider selling/reducing our position.
MM is long and bullish ALU short-term
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