if you're going to back out cash, you have to back out interest income... that wuold put the cash PE at 19x. looks even worse on cash flow. solid company, but the valuation is out of control bc everyone thinks they're getting bought.
I think the market is due for a big downwards correction. We might even make new lows. I sold all my shares last week on the earnings news. When something goes up 23% in one day, I take profits now(I held those shares since 2005). INFA is still my favorite tech stock, but I just don't want to be in the market right now. I have cash ready to buy shares if it dips lower, but for now I'll remain in cash. Good luck everybody!
Totally agree, the 23% gain was totally unjustified. They hit their estimates and aren't experiencing earnings growth. It is a solid company, I don't see how another company could buy them as it seems it would take $20 to $22 a share.