Despite a 52 week change of 64%, the stock is trading at a P/E of less than 8. The bad results were digested due to a huge $30 million arbitration award which may be recognized in the next few quarters. The key to success, obviously, is the operational performance. For that the company needs to continue on its strategy to design, develop and acquire patents related to the its core segment. The company has sufficient cash on books ($635.81 million as on March 31, 2013) and can get a little aggressive on that. Various companies have adopted different strategies for optimizing the value of the technologies created by them. InterDigital is focused on a specific segment, smaller companies concentrate on a single product. For example, PLC Systems Inc. (PLCSF) concentrates on a single product (RenalGuard), and recently obtained its first European Patent. PLC System already owns numerous US patents for the product. PLC Systems is a medical device company, and RenalGuard is th product designed to reduce the risk of adverse exposure to toxic contrast media which can accumulate in the kidneys. InterDigital revenues were much lower last quarter due to expiration of the 2009 Samsung patent license agreement. The licensing agreement with Sony helped offset that loss to an extent. In the last quarter, the company acquired approximately 800 patents including an investment in BIO-key related to security technology. It also commenced field trials with many major operators involving its Smart Access Manager solution. One has to keep in mind that the arbitration awards may have been already factored in the price and any slippages in future earnings may result in correction in the stock. So the company has to deliver a much better set of numbers in the next quarter. Till that, it seems that the investors can enjoy the ride. The recent momentum indicates that the stock may be on its way to challenge the 52 week high of $48.68.