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Resonant Product Development VP and Orbital solar contract ?3

09:33 09-Aug-21


Resonant has appointed Mike Conry as Vice President of Product Development with the responsibility for supporting customers to scale XBAR to commercialization and high-volume manufacturing.  He joined Peregrine Semiconductor in 2007.  Peregrine was bought by Murata in 2014 for $12.50 per share.  The share price prior to that was $7.69 but Peregrine had shipped over 2b chips by that point and had $60M in quarterly revenue.  Resonant just exceeded 79M units shipped and has 1% of those quarterly sales. 

With 5G deployment, this is a different market than in 2014, and some change to the relationship with Murata still has to happen in the coming months.  To wit, Dish just turned in a good quarterly report, though that seems to be mostly from subscribers for Olympic TV coverage.  RESN continues to trade below $3 and though this development is interesting, I don't think investors should get too excited about it.

Orbital has also issued another press release about a 130 MW solar EPC win.  I remain concerned about Oribital's profitability.