Same reason it went up on no news. This stock is a buy around ten times next years estimates plus cash. That would put it around 53 a share. That's how it has traded for a long long time.
You run out of customers.
I never claimed to be a visionary, just very patient. It took me awhile to learn that a missed opportunity in one stock will be replaced in another. I am watching several stocks in the "internet of things" arena" and some finally have pulled back to more reasonable valuations so I will be adding to or starting new positions.
He DID invest in growth industries. He just kept away from things he didn't understand. He understood, for instance, even back in the 1980's the baby boomers were all going to die eventually. They affected toys, baby food, housing and they were eventually going to affect death. They would be a death growth industry so he recommended Service Corp International, one of the largest (and growing) funeral home operators. If I had bought that stock around 1994-95 when I first read Lynch's books and just hung on, today first twenty years later I would be getting my money back. Service Corp actually doubled in value at the internet stock boom took hold, but once they bought up all the funeral homes, the stock stopped going up. This is the same thing in many ways. For INVN you will possibly make a lot of money as sensors are adopted more and more, but eventually just like Microsoft and taco bell and motel six, the market becomes saturated. Lynch also talks about (and I am not going to go and get the book) fast growers, slow growers, steady dividend payers etc. and how a company can move from fast grower to slow grower to steady dividend payer. Lynch looked for the fast growers because that's where the ten baggers were. He was famous in his books for explaining why most money managers couldn't beat the market. It was because you don't get into trouble for buying companies like IBM and Proctor and Gamble. You only get into trouble for buying that little hotel chain you slept in and the burrito you had at the little restaurant chain down the road and they go broke. That's enough now. Too nice outside to waste on talking Peter Lynch.
I would not count out say 20. If you look at the yearly chart after new highs are hit support is typically the old high or a little less. I would not be surprised if hit 20 again and then went to new highs.
Would you expect Heinz to be a ten bagger? You are wrong on Lynch. He did invest in growth. He invested in things like taco bell and motel six when they were small chains. Is that to say chipotle cant come along and blow taco schmaco out of the water or beat out motel six. He invested in growth he could understand. He could not understand tech companies products (kind of like my 80 year old dad) and therefore like buffet stayed away and missed out on things like a young Microsoft. Hope is most often used on failing companies. INVN is not failing.
It appears that the old highs of around 21-22 are now support. And this is how it has been since I started buying around 10 this time last year.
I am just waiting for the fourth quarter to be over so we can see the estimates for fiscal 16. I am thinking they will be a buck or higher.
Well margin that's more risk. I just don't care for moshe and if I cant trust the CEO I am not going to put in a lot of money. The best outcome here for you is a buy out. And as someone told me a long time ago when I started investing, "Good stocks aren't always good companies and good companies aren't always good stocks."
I never "beat anyone down". Its just that when anyone doesn't drink the koolaid and has some questions (like when are cloud revenues going to be reported) somebody like you gets all angry and indignant.