RMBS has legs. BRCM is a major player and clearly weighed its options. For them to cut a $200MM deal (5 years at 40MM per year) and to settle all O/S claims, there must be merit in the RMBS value proposition. My math has RMBS going to high 8s based on a midpoint of the new deal to net income (midpoint between revenue and net income). Alogrithms are pinging the market down to find support. It is overdone as it is a holiday week. RMBS will have a nice bounce.
SUGGESTION: Intrinsic value was at 10.00, predeal was at 7.00, post deal is at 8.80 per share. BUY.