At $15, MC is now around $300M. With $68M in cash, the EV is $232M. So PE ratio (without cash) is 8.5. And EV/EBIDTA is around 5.6. This is impressive considering that this is backward looking. If earnings are $1.5 next year (, then the PE ratio drops to 7.7!

Now, if you account for the growth rate of 15%, the PEG raio is around 0.5. The company is transforming to a services company (services revenues increased at 65% in the past quarter) where the margins are higher. Cloud computing is really picking up where they are big. Also, they could make an acquisition with all the cash they have which would boost growth rates.

Considering all this $15 seems really cheap since it could easily be a double from here.