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Gemalto ADR [GTOMY]
04-03-2015, 06:00 PM. (This post was last modified: 04-03-2015, 07:18 PM by phandal.)
Post: #1
Gemalto ADR [GTOMY]
Hi guys, I'm looking at Gemalto (OTC in the US so I am putting it in the US thread), purely from the perspective that connected devices (generally known as Machine-to-Machine [M2M], or Internet-of-Things [IoT] if you prefer that term) will be a growing market, and one of their divisions (Cinterion) is 1 of the 2 leading vendors for these M2M modules (the little network cards inside the devices that allow these machines to talk to each other).

This is in addition to the business which they are well know for, which is SIM modules / chip /smart cards.

Blackberry, Cisco, Intel, etc are all gearing up for a big fight in the IoT arena, so I think the M2M module vendors stand to gain much from this emerging trend of connected devices. I am already vested in the other market leader Sierra Wireless [SWIR] which is up about 55% on paper, so I'm considering this investment also.

Gemalto, current (from Morningstar)
P/S = 2.7
P/B = 2.9
P/E = 29
Div Yield = 0.6%

BTW one of the research reports http://www.keplercheuvreux.com/pdf/resea...248808.pdf (pg27) shows that the company's gearing ratio is negative, what does this mean?

What are your thoughts / analyses?

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04-03-2015, 07:27 PM. (This post was last modified: 04-03-2015, 07:28 PM by fsl.)
Post: #2
RE: Gemalto ADR [GTOMY]
(04-03-2015, 06:00 PM)phandal Wrote: Hi guys, I'm looking at Gemalto (OTC in the US so I am putting it in the US thread), purely from the perspective that connected devices (generally known as Machine-to-Machine [M2M], or Internet-of-Things [IoT] if you prefer that term) will be a growing market, and one of their divisions (Cinterion) is 1 of the 2 leading vendors for these M2M modules (the little network cards inside the devices that allow these machines to talk to each other).

This is in addition to the business which they are well know for, which is SIM modules / chip /smart cards.

Blackberry, Cisco, Intel, etc are all gearing up for a big fight in the IoT arena, so I think the M2M module vendors stand to gain much from this emerging trend of connected devices. I am already vested in the other market leader Sierra Wireless [SWIR] which is up about 55% on paper, so I'm considering this investment also.

Gemalto, current (from morningstar)
P/S = 2.7
P/B = 2.9
P/E = 29
Div Yield = 0.6%

BTW one of the research reports http://www.keplercheuvreux.com/pdf/resea...248808.pdf (pg27) shows that the company's gearing ration is negative, what does this mean?

What are your thoughts / analyses?

I suggest you consider Smartflex. SGX 5RE. A good option. Gelmato is a customer of Smartflex.

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04-03-2015, 10:35 PM. (This post was last modified: 04-03-2015, 10:42 PM by phandal.)
Post: #3
RE: Gemalto ADR [GTOMY]
Hi FSL thank you for the idea, however smartflex doesn't really fit into my trade idea as they are not involved in the manufacture of the M2M modules (they only do smart card chips as I understand from their website) which is the main crux of the trend in seeing. Thus am investment in them would not directly benefit from the growth of this sector though.

I believe that most of these devices would not require SIM modules but will be connected via localised networks like wifi / wimax etc instead. Many of these M2M modules are already used in the automotive industry in modern cars.

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