Managing Director, Zero One, Zero One

Vincent Fernando, CFA

Managing Director, Zero One

Equity Bottom-Up

<ul>
<li>Elan's index removal has resulted in a spike in volume, however the removal selling should be abating.</li>
<li>The company remains in a very strong position with a large cash warchest and additional cash to be generated even in a down-cycle.</li>
<li>The company should buyback shares in our view, as it did in 2021. Industry weakness also presents acquisition opportunities.</li>
</ul>


Elan's index removal has resulted in a spike in volume, however the removal selling should be abating.
The company remains in a very strong position with a large cash warchest and additional cash to be generated even in a down-cycle.
The company should buyback shares in our view, as it did in 2021. Industry weakness also presents acquisition opportunities.


Elan Microelectronics: Index Removal Ending, Cash Rich for Buybacks or Acquisitions

Taiwan

Macroblock Inc's is a mixed-signal design company with special focus on the power management and opto-electronic applications.

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Macroblock Inc (3527 TT)

Elan Microelectronics: Index Removal Ending, Cash Rich for Buybacks or Acquisitions

Recent market weakness and underperformance for the shares presents long-term value now that the company's index removal event is ending.

Vincent Fernando, CFA

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