August 24th, 2005
SpeculatingStocks.com Stock Pick: Conexant Systems, Inc. (CNXT)
Stock Price: $1.67 (short-term strong buy)
Conexant Systems, Inc. sells semiconductor system solutions for use in broadband communications applications that enable high-speed transmission, processing and distribution of audio, video, voice and data to and throughout homes and business enterprises worldwide.
During the company's most recent quarter, sales beat expectations and net losses narrowed by 54% as their recovery accelerated. Sales came in at $197.5 million compared to analyst estimates of $190 million.
This company is in all the hot areas related to semiconductors including game consoles and VoIP. At this point, CNXT is up 75% from a low of $0.95 on May 4th. CNXT has major momentum now and will test their 52-week high of $2.23.
SpeculatingStocks.com Target Price: We expect CNXT to exceed $2.23 within the next six weeks.