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Resonant names CFO +4

08:43 31-Oct-18


Resonant has named Marty McDermut as the company’s new Chief Financial Officer effective November 15, 2018.  Experience with the company's startup is an interesting twist, as per this statement from the CEO:

Marty has extensive public company CFO experience, in addition to in depth knowledge of the semiconductor industry.  Most recently he served at two publicly traded, semiconductor companies.  Marty also worked as an advisor with our founders as they established Resonant and, as a result, brings a unique perspective to our company.
I think there is still some mystery here and possibly some behind-the-curtains machinations.  In particular, I find it curious that Mr. McDermott's prior post at fab-less semiconductor company Applied Micro Circuits was named.  He joined the company in January of 2016, when the highly volatile AMCC stock was at a low point of $5, and 10 months later Applied Micro was being bought by Macom, which does significant design & foundry work in 5G RF components, for $8.36 per share.  Macom will be participating at the Benelux RF conference on November 27 & 28 and announcing earnings after market close on November 13th.  I will listen to the call and report if I hear anything interesting.

Whether or not that speculation has any merit, if Resonant can assure that there are no accounting irregularities on the upcoming call, I see over 50% upside back up to at least the $5 mark that I've held all along.  RESN has not moved in the pre-market so far.