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EnSilica – “pleased to confirm… a strong performance”. Er, what about “the slower economy and the impact that had on the start of new supply contracts”?!

By Steve Moore | Tuesday 14 May 2024

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Writing on company describing itself as “a leading chip maker of mixed signal Application Specific Integrated Circuits” EnSilica (ENSI), yesterday I concluded with the shares down towards 60p that at least ahead of some further financial certainty and with a still above £50 million market cap still avoid/sell. What then of today a trading update commencing, “pleased to confirm that EnSilica has delivered a strong performance in the year, buoyed by continued new business momentum, the execution of significant contracts with key customers and a maturing of the supply business model”?

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