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Revised Operating Plan Sinks MoSys Inc. (MOSY)

Shares of MoSys Inc. (NASDAQ:MOSY) fell 35% on Thursday after the company disclosed that its effort to consider strategic alternatives was unsuccessful. Specifically, MoSys’ board of directors had engaged an investment bank in the second half of 2016 as a strategic financial adviser to review a range of strategic alternatives focused on maximizing stockholder value. Although the financial adviser met with many companies, MoSys did not receive any proposals that the company’s board considered to be in the best interest of shareholders.

As a result, MoSys Inc. (NASDAQ:MOSY) is revising its operating plan to cut costs and streamline its operations. To reduce its cash burn and focus more resources on customers, MoSys will lay off around 60% of its total headcount, or up to 35 positions. MoSys anticipates the cost cuts will save $6 million on an annual basis.

What Does The Smart Money Sentiment Say?

At Insider Monkey, we’ve developed an investment strategy that has delivered market-beating returns over the past 12 months. Our strategy identifies the 100 best-performing funds of the previous quarter from among the collection of 700+ successful funds that we track in our database, which we accomplish using our returns methodology. We then study the portfolios of those 100 funds using the latest 13F data to uncover the 30 most popular mid-cap stocks (market caps of between $1 billion and $10 billion) among them to hold until the next filing period. This strategy delivered 39.7% gains over the past 12 months and outperformed the 24.1% gain enjoyed by the S&P 500 ETFs. Our enhanced small-cap hedge fund strategy returned more than 45% over the last 12 months and outperformed SPY by more than 30 percentage points over the last 4.5 years (see details here).

None of the 742 smart money funds we track reported owning any shares of MoSys Inc. (NASDAQ:MOSY) at the end of Q4.

The Bottom Line

MoSys Inc. (NASDAQ:MOSY) fell sharply on Thursday due to the market not liking the company’s revised operating plan. For more reading, check out ‘10 Most Popular Stocks Among Hedge Funds‘.


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