lt cap,

I had read the 'bare' story that MKM was cutting PT from $15 to $13 with a 'neutral', and thought it ironic that it was MKM's faith in making INFN it's 'best pick' IIRC that propelled it to ~$24. I was skeptical, and at $11.80 or so thought that this is what I'd been waiting for: Buying it at about where Welch and Fallon made a substantial open-market buy. But the detail in the story you provided - well, given the numbers he's dug into, the coherence of his argument, and the fact that yes, INFN's last CC was a mess of non-visibility, it gives me pause. I'm going to ponder it today, as part of me still says this is a good price, and perhaps the stock is over-reacting. As well as looking into covered calls. Thanks for posting - without reading that, I would've already made a buy today. In addition, one could say we're still searching for a short-term bottom, as it was above $13 a little bit ago and the decline has been pretty steady over the last couple weeks or so.

And, BTW, the analyst is portraying Transmode as a drag and facing stiff competition. Fallon has had nothing to say but that acquisition was a perfect fit, and saw no such problems. Ditto for the InPhi software solution - I recall he specifically said it would have 'zero' impact on INFN's business in that sector.