Ashraf Eassa
Long/short equity, contrarian, independent research, tech

Saying Goodbye To LSI

On Sept. 18, I offered my case for why LSI (NASDAQ:LSI-OLD), a fabless semiconductor company that participates in a broad swath of interesting end markets, was meaningfully undervalued. Indeed, here was my concluding paragraph from the piece,

Putting it all together, even if I conservatively look for 5% long-term earnings growth from FY2013 estimates of $0.65/share, I come to a share price in the ballpark of $12/share, which would suggest 52% upside from here. While it will take several solid quarters of execution for this value to be realized, I do like the progress that the company has been making and think that a more sustained period of growth, beginning later this year and extending over the...
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