Value Microcaps Motherboard

[abh3vt]

MTOR now trading at 4.92, near a 52 week low. I haven't seen much in the way of analyst revisions that would account for this drop. While clearly a cyclical company, this one appears to be super cheap at present, trading at 4.1x Sep12 and 3.1x Sep13 estimates.

FY12 estimates have barely fluctuated at all in the past few weeks. Looking ahead, Q3 is a tough comp for the company, but unless FY13 estimates come down in a big way, this one is due for a bounce.

Of course, the valuation argument is based upon non-GAAP numbers that back out most of the non-cash charges....so perhaps some view that as suspect.