RE: Wins PE whaler - I posted the below info recently. Hope it helps:
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A report this week from Cantor Fitzgerald initiating coverage of Tessera (TSRA), show the PE of a large list of companies in and tangent to the IP industry.
Some of these are as follows based on 2012 consensus eps.
TSRA 30.6x
ACTG 21.2x
DLB 15.3x
IDCC 27.0x
QCOM 17.4x
RPXC 20.8x
Average 22.1x
WIN's 2012 PE based on the average analyst estimate of ~
.50 is 10.4x. Ex cash the PE is 7.1x.
VirnetX (VHC) stock is selling at $25 and has a mkt cap of $1.4 billion, yet it has no PE because they are expected to lose money this year! Estimates for 2013
.40give it a PE of 62x!!!
The only thing that is keeping me in this stock is that based on the above valuations WIN sb selling at least $10 per share.
A large deal or two should quickly rerate the valuation closer to the peer group imo.
Either that or someone will make a run at us soon and benefit from the valuation differential.