The "down times" I was refering to was after the stock dropped in Dec. 95 to the recent upturn about 6 months ago.
As far as the current management, don't lose faith in Bill Miller. He was able to turn Quantum around and so far has done a great job with Avid. They continue to turn out products that are leaps and bounds above their competition. Not to mention he has cut down on Accts. Rec. and increased # of turns (not to mention other key indicators)
I would hold onto the stock. Remeber that Intel now owns %11 of Avid, and they have yet to ship any editors on the PC. I think if they can do a good job with the new Intel products they can expand their market significantly. Plus they will have the Intel "marketing machine" on their side.
Wasn't Miller fired from Quantum I've heard that but never found out if it was true. He is focused and lets hope that things stay strong. I've been holding a long time and no sense in dumping now but what do you think will happen if they turn a bad quarter or two? Happy hunting
Discreet Logic just reported another super earning quarter on Jan. 29. Their EPS is $0.22, which exceeds analysts' consensus of $0.20, and their gross margin rose to a recorde 64% (from 55.0% to 63.6%) Both Piper and Volpe reiterated their STRONG BUY rating with target price of upper $30s to $40. Several reasons that makes Discreet attractive: Strony Customer Base: Industrial Light and Magic, Digital Domain, Sony Pictures Imageworks.. Blockbuster Films using Discreet's products: Titanic, MIB, The Lost World, ID 4, Speed... Huge market: the market for creative tools for the production/post-production industry currently exceeds $3.5 Billion, with high end accounting for about half of the total(which Discreet's products address) The market is undergoing a one-time shift from analog to digital. The emergence of the HDTV market is expected to trigger a new wave of buying digital-video equipment.
Discreet is well-positioned for the emergence of the HDTV market, and will capture a large portion of the $3.5 billion market. Currently trading at 18 times FY99 earning, it is a bargain and will take off any time!
Those are the fundamentals I'm refering too... these guy's have actually run companies before... and done extremely good jobs. I'm bullish both short term and long. Intel is probably one of many marketing machine's Avid could employ... with 200M in cash, they can also purchase some very key strategic "competitors". The sum of which would be much larger than the parts.