GTO NA
Gemalto
TMT
12/02/2013
Presented
| Date | 11/26/2013 |
| Price | €82.16 |
| Market Cap | $7.51B |
| Ent Value | $7.22B |
| P/E Ratio | 28.57x |
| Book Value | €33.33 |
| Div Yield | 0.58% |
| Shares O/S | 86.12M |
| Ave Daily Vol | 440,000 |
| Short Int | N/A |
Current
| Price | €51.20 |
| Market Cap | $5.31B |
| Gemalto N.V. provides digital security products and services worldwide. The company operates in four segments: Mobile Communication, Machine-to-Machine, Secure Transactions, and Security. The Mobile Communication segment offers mobile communication solutions for mobile network operators comprising subscriber identification modules and universal integrated circuit cards, and client-server and back-office software and platforms; and services, including roaming optimization, mobile payment, mobile marketing, personal data management, and trusted services management. The Machine-to-Machine segment offers solutions, including modules and software that connect machines to improve operations, productivity, and efficiency in the Internet of things, support, and other services for a range of industries, such as utilities, health, and automotive. The Secure Transactions segment offers secure transactions solutions for financial institutions, retailers, and other card issuers, as well as mass transit authorities comprising chip card and contactless payment solutions and services, and mobile financial solutions; and sells subscriber authentication and rights management solutions to pay TV service providers. The Security segment offers security solutions comprising secure electronic identity documents, including ePassports and badges; and multi-factor online authentication and transaction solutions, as well as a range of support services for government agencies and government service providers, and enterprises and other organizations, including banks and others providing secure online services. The company serves customers primarily in North and South America, Europe, the Middle East Asia, and Africa. Gemalto N.V. is headquartered in Amsterdam, the Netherlands. |
Highlights
The presenter is short shares of Gemalto, a Netherlands-based digital security services provider. The company’s near-term prospects principally depend on the ongoing performance of its Mobile Communications unit, which mostly manufactures SIM cards – a decent business over the past several years as successive generations of SIM cards have been required to keep up with network transitions from 2G to 3G to 4G and now 4G/LTE. The pace of innovation on SIM cards has slowed, however, and they generally do not require replacement as frequently as in the past. The company is therefore attempting to position its next generation of SIM cards to sit at the center of the mobile payments transactions space – a transition the presenter does not see as likely to be successful.
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