OB:NOD

Stock Analysis Report

Nordic Semiconductor

Executive Summary

Nordic Semiconductor ASA, a fabless semiconductor company, designs, develops, and sells integrated circuits and related solutions for short and long range wireless communication in Europe, the Americas, and the Asia/Pacific.

Snowflake

Fundamentals

Flawless balance sheet with high growth potential.


Similar Companies

Share Price & News

How has Nordic Semiconductor's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

1.6%

NOD

-2.9%

NO Semiconductor

0.07%

NO Market


1 Year Return

36.9%

NOD

31.4%

NO Semiconductor

-8.7%

NO Market

Return vs Industry: NOD exceeded the Norwegian Semiconductor industry which returned 31.4% over the past year.

Return vs Market: NOD exceeded the Norwegian Market which returned -8.7% over the past year.


Shareholder returns

NODIndustryMarket
7 Day1.6%-2.9%0.07%
30 Day0.4%-0.06%-2.4%
90 Day18.3%9.6%1.8%
1 Year36.9%36.9%33.1%31.4%-3.9%-8.7%
3 Year50.1%50.1%91.4%84.1%40.2%21.9%
5 Year37.1%37.1%156.7%139.2%59.2%22.5%

Price Volatility Vs. Market

How volatile is Nordic Semiconductor's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Nordic Semiconductor undervalued compared to its fair value and its price relative to the market?

34.0%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: NOD (NOK50.6) is trading below our estimate of fair value (NOK76.65)

Significantly Below Fair Value: NOD is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: NOD is poor value based on its PE Ratio (564.3x) compared to the Semiconductor industry average (24.5x).

PE vs Market: NOD is poor value based on its PE Ratio (564.3x) compared to the Norwegian market (13.4x).


Price to Earnings Growth Ratio

PEG Ratio: NOD is poor value based on its PEG Ratio (6x)


Price to Book Ratio

PB vs Industry: NOD is overvalued based on its PB Ratio (4.4x) compared to the XE Semiconductor industry average (2.4x).


Next Steps

Future Growth

How is Nordic Semiconductor forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

93.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: NOD's forecast earnings growth (93.8% per year) is above the savings rate (1.8%).

Earnings vs Market: NOD's earnings (93.8% per year) are forecast to grow faster than the Norwegian market (15.1% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: NOD's revenue (24.1% per year) is forecast to grow faster than the Norwegian market (4.7% per year).

High Growth Revenue: NOD's revenue (24.1% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: NOD's Return on Equity is forecast to be low in 3 years time (14.8%).


Next Steps

Past Performance

How has Nordic Semiconductor performed over the past 5 years?

-26.7%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: NOD's earnings have declined by -26.7% per year over the past 5 years.

Accelerating Growth: NOD's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: NOD had negative earnings growth (-77%) over the past year, making it difficult to compare to the Semiconductor industry average (-4.8%).


Return on Equity

High ROE: NOD's Return on Equity (0.8%) is considered low.


Return on Assets

ROA vs Industry: NOD's Return on Assets is below or equal to the Semiconductor industry average last year.


Return on Capital Employed

ROCE Improving: NOD's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is Nordic Semiconductor's financial position?


Financial Position Analysis

Short Term Liabilities: NOD's short term assets ($199.4M) exceeds its short term liabilities ($50.5M)

Long Term Liabilities: NOD's short term assets (199.4M) exceeds its long term liabilities (18.1M)


Debt to Equity History and Analysis

Debt Level: NOD is debt free.

Reducing Debt: NOD has no debt compared to 5 years ago when its debt to equity ratio was 10.5%.

Debt Coverage: NOD has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: NOD has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet

Inventory Level: NOD has a high level of physical assets or inventory.

Debt Coverage by Assets: Insufficient data to determine if NOD's debt is covered by short term assets.


Next Steps

Dividend

What is Nordic Semiconductor's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

company0%marketbottom25%2.6%markettop25%6.2%industryaverage1.3%forecastin3Years0%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: Unable to evaluate NOD's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate NOD's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.

Stable Dividend: Insufficient data to determine if NOD's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if NOD's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: NOD is not paying a notable dividend for the Norwegian market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of NOD's dividend in 3 years as they are not forecast to pay a notable one for the Norwegian market.


Next Steps

Management

What is the CEO of Nordic Semiconductor's salary, the management and board of directors tenure and is there insider trading?

5.1yrs

Average management tenure


CEO

Svenn-Tore Larsen (60yo)

17.7yrs

Tenure

US$587,000

Compensation

Mr. Svenn-Tore Larsen has been the Chief Executive Officer of Nordic Semiconductor ASA since February 2002. Mr. Larsen has been Director at poLight AS since May 2019. Mr. Larsen has broad Inter-National ex ...


CEO Compensation Analysis

Compensation vs. Market: Svenn-Tore's total compensation ($USD587.00K) is about average for companies of similar size in the Norwegian market ($USD543.38K).

Compensation vs Earnings: Svenn-Tore's compensation has been consistent with company performance over the past year.


Management Age and Tenure

5.1yrs

Average Tenure

49yo

Average Age

Experienced Management: NOD's management team is seasoned and experienced (5.1 years average tenure).


Board Age and Tenure

0.5yrs

Average Tenure

48yo

Average Age

Experienced Board: NOD's board of directors are not considered experienced ( 0.5 years average tenure), which suggests a new board.


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyUS$980,00011 Jul 19
Birger Steen
EntityIndividual
Role
Chairman of the Board
Chair of the Board of Directors
Shares25,000
Max PriceUS$39.20
BuyUS$201,92406 May 19
Øyvind Birkenes
EntityIndividual
Role
Member of the Board of Directors
Director
Shares5,112
Max PriceUS$39.50
BuyUS$1,830,00027 Feb 19
Birger Steen
EntityIndividual
Role
Chairman of the Board
Chair of the Board of Directors
Shares50,000
Max PriceUS$36.60
BuyUS$1,191,30026 Feb 19
Birger Steen
EntityIndividual
Role
Chairman of the Board
Chair of the Board of Directors
Shares33,000
Max PriceUS$36.10
BuyUS$717,72026 Feb 19
Birger Steen
EntityIndividual
Role
Chairman of the Board
Chair of the Board of Directors
Shares20,000
Max PriceUS$35.89
BuyUS$292,50018 Dec 18
Birger Steen
EntityIndividual
Role
Chairman of the Board
Chair of the Board of Directors
Shares10,000
Max PriceUS$29.25
BuyUS$416,82010 Dec 18
Svenn-Tore Larsen
EntityIndividual
Role
Chief Executive Officer
Chief Executive Officer
Shares15,000
Max PriceUS$27.79
BuyUS$45,00004 Dec 18
Marianne Frydenlund
EntityIndividual
Role
Chief Legal Officer
Legal Director & Acting Secretary
Shares1,500
Max PriceUS$30.00
BuyUS$148,95003 Dec 18
Pål Elstad
EntityIndividual
Role
Chief Financial Officer
Chief Financial Officer
Shares5,000
Max PriceUS$29.79
BuyUS$59,90003 Dec 18
Svein-Egil Nielsen
EntityIndividual
Role
Chief Technology Officer
Chief Technology Officer
Shares2,000
Max PriceUS$29.95

Ownership Breakdown


Management Team

  • Svein-Egil Nielsen (50yo)

    Chief Technology Officer

    • Tenure: 0yrs
    • Compensation: US$338.00k
  • Svenn-Tore Larsen (60yo)

    Chief Executive Officer

    • Tenure: 17.7yrs
    • Compensation: US$587.00k
  • Geir Langeland (49yo)

    Sales & Marketing Director

    • Tenure: 14.1yrs
    • Compensation: US$345.00k
  • Pål Elstad (48yo)

    Chief Financial Officer

    • Tenure: 5.1yrs
    • Compensation: US$356.00k
  • Marianne Frydenlund (39yo)

    Legal Director & Acting Secretary

    • Tenure: 1.7yrs
    • Compensation: US$151.37k
  • Ståle Ytterdal

    Director of Investor Relation

    • Tenure: 0yrs
  • Katarina Finneng

    Human Resource Director

    • Tenure: 0.08yrs

Board Members

  • Birger Steen (53yo)

    Chair of the Board of Directors

    • Tenure: 0.8yrs
  • Jan Frykhammar (54yo)

    Director

    • Tenure: 0.5yrs
  • Anita Huun

    Director

    • Tenure: 0.5yrs
  • Jon Nistad (38yo)

    Employee Representative Director

    • Tenure: 0yrs
  • Inger Ørstavik (45yo)

    Director

    • Tenure: 2.5yrs
  • Asbjørn Sæbø (51yo)

    Employee Representative Director

    • Tenure: 3.4yrs
  • Susheel Nuguru (38yo)

    Employee Representative Director

    • Tenure: 1.8yrs
  • Endre Holen

    Director

    • Tenure: 0.5yrs
  • Øyvind Birkenes

    Director

    • Tenure: 0.5yrs
  • Annastiina Hintsa

    Director

    • Tenure: 0.5yrs

Company Information

Nordic Semiconductor ASA's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Nordic Semiconductor ASA
  • Ticker: NOD
  • Exchange: OB
  • Founded: 1983
  • Industry: Semiconductors
  • Sector: Semiconductors
  • Market Cap: kr8.867b
  • Shares outstanding: 175.24m
  • Website: https://www.nordicsemi.com

Number of Employees


Location

  • Nordic Semiconductor ASA
  • Otto Nielsens veg 12
  • Trondheim
  • Sør-Trøndelag
  • 7052
  • Norway

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
NODOB (Oslo Bors)YesRegistered SharesNONOKMay 1996
0FF9LSE (London Stock Exchange)YesRegistered SharesGBNOKMay 1996
NDCV.FOTCPK (Pink Sheets LLC)YesRegistered SharesUSUSDMay 1996
NODoBATS-CHIXE (BATS 'Chi-X Europe')YesRegistered SharesGBNOKMay 1996

Biography

Nordic Semiconductor ASA, a fabless semiconductor company, designs, develops, and sells integrated circuits and related solutions for short and long range wireless communication in Europe, the Americas, an ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/21 20:31
End of Day Share Price2019/10/21 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.