Edmond Jackson's Stockwatch: Andor Technology

This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.

The AIM-listed shares in Andor Technology (AND), a developer of specialist digital cameras, are in a consolidation phase after a 2009-2011 growth run evaporated, although the reasons could be temporary. Quite often, technology-oriented growth shares achieve a high rating, then investors sell at any sign of the growth rate slowing, this trend being exacerbated by trailing stop losses.

Yet issues such as component supply and customers deferring orders can be regular features of high technology, which managers and investors alike have to bear along a growth path.

Andor took off in its financial year to end-September 2009 with normalised pre-tax profit jumping nearly

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