IMO, Tom is trying to put pressure on IDCC managment, not that managment doesn't want to sign new licenses, but you can't keep a buy rating out there forever when management can't sign, for whatever reason.
Tom is just doing what managment already said to do with their own actions. When they sold in the 30s, their actions said, it might be a while before a new license is signed, so we're taking some money off the table. Tom is just advising exactly what IDCC management said to do. It's only now that the stock is back in the 30's that he can say this. I'm not sure about his timing. To me, it's not worth trading a stock like IDCC.
It is obvious that IDCC will sign every major player in 3G and in 4G. It's like they beat the king of the hill when they beat NOK and now with SAM they just beat #2.
Barring any macro econmic issues that will bring the whole stock market down, IDCC will eventually be a $100 stock. Just how long that will take is another issue.
I'd like to see the Broadcom and NOK issue solved in favor of Broadcom and so IDCC will have that much more leverage to intrupt sales in a very, very major way, and that will speed 3G licensing significantly, I would think.
I get what you are saying, though, I'm not sure what kind of profit Tom thinks one can take off the table as the stock price is already within his range.
It's a weird time in IDCC history. To me, it feels a bit like the eye of the storm. Calm, and yet you know something has got to happen real soon.
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