Down more than 40% since my last update on the company, the shares are quite a bit more interesting now even with those fears around cable subscriber growth. I’m not particularly positive on the Silicon Motion deal, and I think the company continues to overstate the opportunity in PAM-4, but I think a lot of bullishness has been beaten out of these shares and I think the longer-term potential in home connectivity and 5G is enough to support the shares from here, with any progress in optical interconnect and the Silicon Motion deal constituting upside beyond that.
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