I've compared LSI's results (revenue, cash flows and earnings) over the past six years. LSI's 2012 earnings and cash flows are the best they have been during this period. Revenues are back up over 2.5B and growing at decent levels as well. Margins are healthy. Cash position and flows are both healthy with no debt.
However, the street is not interested in semis right now and has little faith in LSI due to past performance.
One poster asked what LSI needs to do to increase its share price. My thoughts are as follows:
1. Continue to post good numbers for the next several quarters (5-6 quarters);
2. If cash flows continue at this pace, then institute a small quarterly dividend to get instiitutional buyers (Mutual Funds); and
3. Continue buybacks at good pace.
On another note, if there was ever consolidation in the semis LSI would make a great target with its balance sheet and with its Sandforce products/IP.