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Synaptics Inc. Message Board

  • the_synergist the_synergist Aug 1, 2003 10:17 AM Flag

    Heading back to $6?

    Even with the drop so far, SYNA still looks very expensive!

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    • I have no idea. If I knew stuff like that I'd be writing you from my private island. It seems to me that 6 would be pretty cheap for this stock.

      Here's how I look at it. They have $3 in cash, $.31 in earnings and 14-15% of Foveon. Back out the cash and the earnings on the cash ($.05 ?) and you get $.26 in operating earnings. Give those a multiple of 20 (seems middle of the road) and you get $5.20 per share add the cash and an extra buck for Foveon and you get a value of $9.20. Thus $6 seems like a bargain to me. It also explains why insiders semed to jump on the chance to sell at $14.

      Valuing the Foveon interest at a buck may be a little generous right now. That would mean SYNA's 15% (+/-) would be worth about $25M and all of Foveon would be worth around $167M. That seems rich for un unprofitable company with , apparently, minimal sales. However, with their intellectual property, I'd be willing to pay that price.

      Anyway, for what it's worth, that's the way I see it. It's just my opinion and worth what you had to pay to ge it. Maybe.

    • Huh?? SYNA posts a profit, meets analysts expectations (doesn't excced them though) and thier PE prior to today's drop was 43. The PE going in to today is certainly not horribly high.

      There are many other overpriced stocks that are not making money that warrant a large drop. SYNA doesn't warrant being dumped.


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