The earnings miss by 1 cent isn't consequential. The revenue beat isn't huge either per se, but combined with the forward outlook, it's very good news because it puts to rest a lot of crazy fears that caused the recent drop. It affirms that real growth is underway - nothing that would justify a valuation this low. The remaining hurdle to see PANL shoot to 40 is to allay the fears about Samsung, and I expect they'll do this during the conference call. I expect to see the stock 34+ tomorrow.
$23 or so would have been possible had the fears been confirmed. This news has eliminated them. What justification is there for the stock to remain at $28, let alone decline? Run the numbers. When Samsung is reaffirmed to be a catalyst, PANL should move to $40 in short order. Up only slightly in after-hours, but as always, PANL is a relatively obscure stock and doen't see the big upswing until the next trading day. $30 is certain, $32+ is likely. $40 is possible only once Samsung is reaffirmed. The rumors from the last few days were just trading manipulation; that is clear now.