Nordic Semiconductor is a semiconductor supplier for ultra-low power communication electronics. Its target markets; IoT, smart-home and short range communication, are interesting for future growth.

The company was valued 35x PE in 2023, as its revenue declined with 35% and its earnings declined with 65% in 2023. This turned worse in Q1-2024 as TTM revenue declined another 35% and the company made a loss. The market awarded this with 60% increase in share price.

A company to keep on the watch-list for 2024 as semi-conductor/IOT investment when the mispricing gets corrected. For now I expect at least a 50% correction from 140 NOK.