No. of Recommendations: 0
Thank you, JMac. Yes, based on my valuation a month ago INVN in the neighborhood of $37, which is right where it is today, would be my "fairly valued" range. But this was put together with conservative estimates, I think, and the numerous potential sources of revenue and profits that Dan listed in his article (and I didn't even look at in my valuation) provide for some extra potential in free cash flow and/or margin of safety. Also, as time goes by, more uncertainty should be removed from projections of future performance. These factors can all increase the fair value from my calculation.

I'm still quite comfortable holding INVN now. I personally wouldn't jump out and buy more, but I like Dan's points and support his valuation, and hope that with time the fair value continues to rise.

So... I think my answer is "maybe". :-)

-Mike (mklein9)
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