BWS Financial Inc

BWS provides independent stock specific research focused on companies with distinct value that are going through a special situation where there is a tangible catalyst not priced in. The catalyst can be anything from new product, restructuring, M&A, management change, change in business strategy, etc. BWS’s focus is to understand the change and evaluate the potential return for investors.

BWS utilizes a self formed proprietary approach in discovering stocks by putting great emphasis on deep research. BWS does generate short recommendations following a similar criteria.

Independent Stock Specific Research

Founder, BWS Financial Inc

Hamed Khorsand

Founder

Equity Bottom-Up

<ul type="disc"><li>
NETGEAR (NTGR) is reimaging itself from a leading mainstream home networking company to a luxury, or as NTGR refers to itself as “super-premium”, home connectivity brand. NTGR’s management has been referring to this submarket for the past year, and as demand for Wi-Fi routers has started to wane NTGR has put greater emphasis on moving up market.</li></ul> <ul type="disc"><li>The transition is creating an inventory backlog for the US retail market that could take more time than originally projected. While NTGR’s ambitions to leave the lower end of the market could prove profitable, it could create revenue headwinds in the process.</li></ul> <ul type="disc"><li>We are moving to the sidelines as this new story could take more than another quarter of inventory digestion. We are downgrading to Neutral from Buy.</li></ul> Our Buy Rating returned 49.1 percent over 17 months.


NETGEAR (NTGR) is reimaging itself from a leading mainstream home networking company to a luxury, or as NTGR refers to itself as “super-premium”, home connectivity brand. NTGR’s management has been referring to this submarket for the past year, and as demand for Wi-Fi routers has started to wane NTGR has put greater emphasis on moving up market. The transition is creating an inventory backlog for the US retail market that could take more time than originally projected. While NTGR’s ambitions to leave the lower end of the market could prove profitable, it could create revenue headwinds in the process. We are moving to the sidelines as this new story could take more than another quarter of inventory digestion. We are downgrading to Neutral from Buy. Our Buy Rating returned 49.1 percent over 17 months.

Netgear Inc

NTGR: Reimaging Thru a Glut, Downgrading