On June 19th, I published a note suggesting that shares of Imagination Technologies (OTCPK:IGNMF), a well-known designer of the graphics IP found in many key smartphone and tablet chips, as well as the owner of the assets/IP of former processor IP giant MIPS technology, would see a dramatic fall. Shares then traded for $4.80 and I called for downside to $3.21. Shares hit within a couple of percent of that target, and upon this reassessed my initial view and then published a follow-up note on August 12th calling for 40% upside to about the $5.16 level.
Today, the shares trade for $5.51, having exceeded my 8/12 upside target. Now, while my initial reaction was that the shares were,...
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