Hi Sue,
Two new companies to MM which is adds to the service:
Kina Securities (KSL) is a diversified financial services company based in Papua New Guinea (PNG). It provides a range of banking and financial services to retail, commercial, and small-to-medium enterprises (SMEs) and is dual listed on the ASX and the Papua New Guinea Exchange (PNGX), where it plays a significant role in the country’s financial sector.
- We are not close to this $300mn small cap, it looks ok around $1 but it’s not for us, there are too many risks/variables involved in PNG that we don’t feel across.
On Semiconductor (ON US): this $US28bn company is a leading global supplier of semiconductor solutions, specializing in energy-efficient technologies. The company serves a diverse range of industries, including automotive, industrial, cloud, and Internet of Things (IoT).
ON’s latest earnings for Q3 2024, saw revenue reaching $1.76 billion, slightly exceeding analyst forecasts of $1.75 billion. Earnings per share (EPS) were $0.99, also beating the expected $0.97. The results, however, reflect a year-over-year decline in revenue compared to $2.18 billion in Q3 2023, driven by softer demand in some segments.
- The stocks been drifting lower for more than 12-months and we find it hard to identify a near term catalyst to change that trend.
