What seems funny is that a company with revenues that decline quarter after quarter has a PE = 228.
Similar company PEs : MicroChip PE=27, TI PE=21, SYNA PE=30, Nvidia PE= 31, NXP PE = 31.
If Atmel had a PE=30 its value would be more like 1.20 than 8.70. It seems questionable to mock someone who seems to know what a PE is and how a companies PE relates to its peers and prospects for growth. People will pay up for growth but that is not what you are buying here from I have seen for years.