night_trader
1 year ago
Price drop after Q2 earnings release had to with the following (as per their earnings call):
βthere were two significant pushouts, which were really to do with the customer's programs per se, nothing that was within our control, their own engineering execution. And I would say it's important to note that no business has been lost here. It's just being pushed out by a few quarters in order to allow these guys to complete whatever they need to do on the engineering sideβ.
They guided for a slow growth Q3, again due to the customer pushbacks, but a rather robust and profitable Q4β¦we will see.
They also had some design wins with Bosch which they implied could be the biggest in the companyβs history so far.
There is still potential here but the wait continuesβ¦