Trimble Navigation Limited (TRMB)

[PENNY_STOCKS]

Fund manager favors Priceline, Trimble Navigation, Nintendo

SAN FRANCISCO (MarketWatch) -- As the technology sector confronts the global economic slowdown, mutual-fund manager Ian Warmerdam is focusing on firms tapping new growth areas.

Warmerdam is also a fan of Trimble Navigation Ltd. (TRMB:Trimble Navigation Ltd (TRMB 31.52, -1.60, -4.8%) , a maker of global positioning system technology, whose shares have jumped 19% since the beginning of the year.

While GPS sales have taken off among consumers, Warmerdam said the need for real-time navigational technology is also great and still relatively unmet in the commercial and agricultural sectors.

"They are involved in engineering and construction surveying equipment, and have large end-markets like infrastructure and in the building of roads," Warmerdam said. "These markets tend to be underrepresented when it comes to GPS. The technology is still fairly new to some extent. But it's more and more of a necessity. ... There's plenty of room for growth left."
He cited the benefit of GPS technology in agriculture, where it can be used to enhance yield and minimize waste by more accurately deploying and operating farming equipment.
Like other sectors, Trimble is vulnerable to the global slowdown, which has led to a slump in construction and infrastructure projects. However, Warmerdam added, agriculture remains "a big area of growth." "The acceleration in agriculture has more than offset any slowdown in construction," he added.
In Friday's session, shares of Trimble Navigation lost 53 cents to close at $36.04.

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