Cedar Creek Partners LLC, an investment management firm, published its fourth-quarter 2021 investor letter – a copy of which can be downloaded here. The fund recorded a quarterly portfolio return of 6.4% for the fourth quarter of 2021, outperforming the NASDAQ Index, which delivered an 8.3% return for the same period. The fund also outperformed the S&P 500 (SPY) Index’s 11.1% return but outperformed the Russell Micro Cap’s -2.7% return. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.
Cedar Creek Partners, in its Q4 2021 investor letter, mentioned Solitron Devices, Inc. (NYSE: SODI) and discussed its stance on the firm. Founded in 1959, Solitron Devices, Inc. is a West Palm Beach, Florida-based power semiconductor company with a $20.8 million market capitalization, and is currently spearheaded by its CEO, Tim Eriksen. SODI delivered a -16.67% return since the beginning of the year, while its 12-month returns are up by 42.454%. The stock closed at $10.00 per share on March 10, 2022.
Here is what Cedar Creek Partners has to say about Solitron Devices, Inc. in its Q4 2021 investor letter:
“Solitron Devices (SODI), where I am the CEO, the bid price for shares increased by 33% in the quarter from $8.25 per share to $11.00. We held our annual meeting in December at our recently purchased building. We are in the process of completing the internal buildout in order to relocate this spring. A video recording is available of the meeting on the Investor Relations page of Solitron’s website (link). Subsequent to quarter end, Solitron released fiscal third quarter results. Earnings were $0.24 per share for the quarter and $1.90 per share for the first nine months of fiscal 2022. The $1.90 figure includes PPP loan forgiveness and scrap income related to getting rid of old material. At the meeting we did note that we are expecting to achieve $1 million in annual cost savings at the new facility consisting of the elimination of the $40,000 monthly rent, reduced costs for gases and utilities due to the smaller footprint of the new facility and headquarters, the Company’s decision to not relocate and operate the Company’s wafer fab at the new facility and headquarters, payroll savings and insurance cost savings (link).”
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Our calculations show that Solitron Devices, Inc. (NYSE: SODI) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. Solitron Devices, Inc. (NYSE: SODI) delivered a -1.96% return in the past 3 months.
In December 2021, we also shared another hedge fund’s views on SODI in another article. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.
Disclosure: None. This article is originally published at Insider Monkey.
