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INVN valuation and market dynamics +3

I actually haven't heard anything from subscribers about today's INVN price.  That surprises and impresses me.  Hopefully they've been well-prepared by earlier updates.  In any case, I note that overhangs like this typically last until the following weekly and/or monthly options expiration.  I prefer to take a longer-term view and use these events as opportunities.

My SA article, which is about to go public at 6:45AM tomorrow morning, contains the following bit of valuation math:

According to the 8-K filed with this report, there is almost $4 in current assets per INVN share on the balance sheet now. After subtracting that out, the stock now sports a 1-year forward P/E of just 10. Even if we ignore the possibility of missing out altogether on an acquisition, and the fact that the current mobile market is difficult, we can use the approach detailed here to arrive at a hybrid forward/trailing P/E under 12.

So despite the continued execution risk, I'm actually pretty constructive on INVN at these prices.