The "Valuation Problem" - A Case Study

The "Valuation Problem" - A Case Study

I took some time a few months ago to try to think a little more about Mr. Market's perceived "Valuation Problem".  The easiest place to get data seemed to be Google Finance.  I took a look at the Google Tech Index and thought that this might be a great place to analyze some of the more, and I'm being kind here, "aggressive" valuations out there.  I'm not sure what qualifies a company to be included in the index, but it seems to be a wide cross section of businesses large and small. (spreadsheet attached) Here are the results:

Of the 794 Stocks tracked in the index:

1.) 413 of them have no earnings (i.e. NO P/E)....most of them have plenty of "P" but no "E".

2.) Another 40 companies have a P/E greater than 100 (i.e.insufficient earnings IMO)

3.) The above described 453 companies (60% of the companies in the index) produced a net loss of $7.5B on $351B of revenues.

4.) If you remove the revenues of two of these companies, SONY ($71B) and Dell ($56B) the revenues of the remaining companies are $224B.  The adjusted Net Loss is $8.8 B.

5,) The Market Cap of these 451 companies is $801B.  (About 4x revenues)

6.) AAPL, arguably the most successful tech company ever, is priced at about 4x revenues today.

7.) Mr. Market apparently is valuing this basket of companies as though they are as successful as AAPL, even though they have no earnings or cash flow today.  

In the "good old days" I'd suggest that very few of these 451 businesses would pass underwriting muster and actually qualify as a security.   After all, the definition of the value of a security is the present value of the expected future earnings available to the owners of same.  After a spot check of a few of these businesses, I'd suggest that even the most objective and optimistic financial professionals would be hard pressed to come up with a believable narrative that would indicate that an earning stream is even a remote possibility, much less calculable. These businesses, because they have no balance sheets, hard assets or earnings might have been viable as Private Equity or VC plays in the past but, again, certainly would not be underwritten and sold to the public as the "next big thing".  Of course, their valuations would be markedly different without the public offering.

Unfortunately, we live in a fee based financial system where the "story" is sold to unsuspecting, chart-reading, double-shoulder analyzing, 90-day-triple-candlestick mongering traders, institutions and unsophisticated retail investors who apparently don't understand substance....but they love a good story. Moreover, most of these stocks have analyst ratings of "Buy" or "Strong Buy".  I almost never see a "Sell" recommendation and I don't believe a "Strong Sell" exists.  Rhetorically, if everything is a "Buy" what real value does an analyst bring to the table? 

The natural and expected result of the above described environment is that these securities are now "accidentally" finding their way into IRA's, 401ks, Index Funds, "Funds of Funds", Pensions and Retirement plans of widows, orphans and retirees.  This is the essence of the "valuation problem".

I remember last summer when my wife and I took some time to figure out exactly what we owned in all of our funds.  It was an arduous, time consuming exercise, but illuminating and well worth the time.  I'd imagine, that there are a lot of working people out there (like us) who simply don't know what they own.  They rely on money managers, balancing, moving/separating money into different funds/vehicles and they think they are diversified. Upon further review, we were shocked/dismayed to find out that most of our funds were investing in exactly the same things.  No matter what the stated goal (growth, income, value, balanced, etc.) they all had positions in Google, Apple, JPM, FB, AMZN, etc.   Even the "bond funds" were 30% tech stocks.  There was really no diversification. Because of the historic growth in equities over the past few years, we did very well, but we really didn't bother to drill down and understand it since our balances continued to increase.  Without knowing it, we had inadvertently put all of our retirement eggs in one basket.  In short, it looked like we had money in a dozen different "diversified" places....but in reality, the places were all the same. For an investor, ignorance is not bliss.

MY CONCLUSION:

I'm concerned.  How can this happen?  60 % of the securities in an index are dogs with no earnings?  Who would buy this stuff? These securities (and I use the term loosely) are like roaches....they are everywhere.  I used to think something like this was no big deal.  Mr. Market would eventually revalue the stock and the people who were dumb enough to buy it would get punished for it.  Now, the valuation phenomenon is so ubiquitous I'm not so sure how the Market would/could/should react. The punishment cycle has been artificially obfuscated and delayed. This "not knowing what you own in your funds" phenomenon and the complacency/complexity involved in analyzing it, combined with the easy money policies over the last few years, has lulled everyone into a false sense of "Valuation Security".  Maybe the "Dumb Money" just doesn't move unless there's a reason?  Dumb Money believes that a stock is worth the "story" and the earnings are seemingly irrelevant....so it takes a catastrophic failure in the story, or some other liquidity event to cause the valuation to come back to reality?  Today, many stocks seem to be as  close to a Ponzi scheme as they can get.  I really don't know how it can get much worse.....but I'm also sure it can.  Our financial security and the survival of our entire financial system is at risk here. (deliberately overstated for dramatic effect) 

I'll probably update the spreadsheet, or perhaps expand it to other sectors next year, but until then, we are in cash, with the exception of stocks where the adverse tax effect outweighs the downside "buy & hold" risk. 

Luckily, you (the reader) and I are smarter than everyone else (we hope) and will jump in at the bottom (once again) and buy a boat load of great securities at rock bottom prices, setting ourselves up for another great decade ahead. As we've come to understand all too well, through our experiences in 1987, 1999, 2009, 2015, etc. ......folly is indeed cyclical.

http://www.google.com/finance?catid=TRBC%3A57&ei=3yMqVOn3Lsa9qQH0qIG4Aw

AS OF 9/26/2014 - Excel Spreadsheet Available on Request

Companies 1 - 413 of 794 in GOOGLE Technology that have no earnings

Company Quote Change Change% Market Cap P/E (ttm) Ann. Revenue Ann. Net Income Mkt Cap $B

Nortek Inc 75.55 0.12 0.16 1.19B - 2,287.90 -8.3 1.19
Digital Ally, Inc. 18.5 3.42 22.68 50.08M - 17.83 -2.5 0.05
Carbonite Inc 10.76 -0.04 -0.37 289.24M - 107.19 -10.6 0.289
Comverse Technology, Inc. 0 - - 956.37M - 1,594.40 -58.73 0.956
Intralinks Holdings Inc 8.18 0.11 1.36 462.55M - 234.5 -15.28 0.462
Cornerstone OnDemand, Inc. 35.05 -0.08 -0.23 1.87B - 185.13 -40.43 1.87
Fusionstorm Global Inc 0 - - - - 727.28 -4.12 -
Nimble Storage Inc 25 0.13 0.52 1.83B - 125.73 -43.16 1.83
Liquid Holdings Group Inc 1.34 0.02 1.29 80.30M - 4.8 -46.61 0.08
Weibo Corp (ADR) 19.44 0.3 1.55 3.94B - 188.31 -38.12 3.94
Paylocity Holding Corp 19.56 0.3 1.56 969.47M - 108.69 -9.39 0.969
Proofpoint Inc 37.66 0.5 1.35 1.41B - 137.93 -27.53 1.41
YuMe Inc 4.94 -0.01 -0.2 161.29M - 151.13 0.32 0.161
Demandware Inc 51.95 -0.68 -1.29 1.88B - 103.74 -20.88 1.88
Amber Road Inc 16.16 -0.14 -0.86 407.72M - 52.53 -19.25 0.407
Jive Software Inc 5.9 0.08 1.37 420.59M - 145.76 -75.37 0.42
Mobileiron Inc 9.89 -0.01 -0.1 750.33M - 105.57 -32.5 0.75
Peregrine Semiconductor Corp 12.38 0 0 413.90M - 202.32 -4.05 0.414
Eloqua Inc 0 - - - - 95.76 -78.18 -
Silver Spring Networks Inc 9.19 -0.02 -0.22 444.72M - 326.86 -171.81 0.445
BCD Semiconductor Manufacturing Ltd(ADR) 0 - - - 0 139.86 4.14 -
Cohu, Inc. 12 0.02 0.17 304.78M - 247.3 -33.42 0.304
Communications Systems, Inc. 11.51 -0.15 -1.27 99.53M - 131.32 -0.96 0.099
Data I/O Corporation 3.03 0.01 0.21 23.74M - 18.72 -2.58 0.023
Crossroads Systems Inc 2.6 0.26 10.98 40.07M - 12.63 -14.26 0.04
MakeMyTrip Limited 28 0.09 0.32 1.17B - 255.37 -20.93 1.17
Inphi Corporation 14.06 0.18 1.3 443.70M - 102.66 -13.18 0.443
Telenav Inc 6.64 -0.05 -0.75 262.03M - 150.31 -29.52 0.262
LinkedIn Corp 213.55 7.51 3.64 26.25B - 1,528.54 26.77 0.026
Tudou Hldg Ltd (ADR) 28.36 - - 1.61B - - - 1.61
ChinaCache Internatnl Hldgs Ltd (ADR) 13.32 0.23 1.76 337.78M - 179.83 -5.58 0.337
eGain Corp 5.83 -0.05 -0.85 148.56M - 70.26 -5.25 0.148
BroadSoft Inc 21.56 -0.26 -1.19 618.31M - 178.49 -8.87 0.618
Servicesource International Inc 3.31 0.04 1.07 275.04M - 272.48 -22.85 0.275
Demand Media Inc 9.1 0.06 0.66 178.01M - 394.6 -20.17 0.178
MaxLinear, Inc. 7.13 -0.02 -0.28 261.98M - 119.65 -12.73 0.262
Qlik Technologies Inc 26.54 -0.07 -0.26 2.39B - 470.45 -9.98 2.39
Cover-All Technologies Inc 1.06 -0.01 -0.93 28.24M - 20.48 -2.9 0.028
Endurance International Group Hldgs Inc 15.89 0.11 0.7 2.05B - 520.3 -159.19 2.05
RingCentral Inc 11.71 -0.26 -2.17 792.19M - 160.5 -46.1 0.792
Dell Inc. 0 - - - 0 56,940.00 2,372.00 -
LSI Corp 0 - - - 0 2,370.23 124.65 -
Dataram Corporation 2.47 0.01 0.41 5.98M - 30.4 -2.61 0.006
Aviat Networks Inc 1.75 -0.01 -0.57 108.76M - 346.5 -51.3 0.109
Emulex Corporation 5.03 -0.05 -0.89 356.59M - 447.33 -29.53 0.356
Exar Corporation 9.08 0.02 0.22 429.89M - 125.32 5.8 0.429
Freescale Semiconductor Ltd 20.49 0.15 0.74 6.22B - 4,186.00 -208 6.22
SciQuest, Inc. 15.26 -0.15 -0.97 419.73M - 90.23 -4.73 0.419
21Vianet Group Inc 18.25 0.04 0.19 1.21B - 320.59 -7.86 1.21
Calix Inc 9.26 0.11 1.2 471.46M - 382.62 -17.26 0.471
CSR PLC (ADR) 49.33 -0.49 -0.97 2.06B - - - 2.06
Longtop Financial Technologies Ltd (ADR) 0 - - - - 169.06 59.09 -
Mitek Systems, Inc. 2.32 0 0 70.77M - 14.8 -7.28 0.07
Envivio Inc 1.8 0.02 1.12 49.88M - 43.2 -12.19 0.049
Violin Memory Inc 4.28 0.19 4.77 394.46M - 107.66 -149.81 0.394
Mobileye NV 50.65 1.14 2.3 11.02B - 81.24 -226.02 11
Audience Inc 7.52 0.02 0.27 170.77M - 160.13 2.07 0.17
Borderfree Inc 13.26 0.03 0.25 417.87M - 110.46 -0.65 0.417
Voxeljet AG (ADR) 15.39 0.06 0.4 285.60M - 14.96 -3.47 0.285
Professional Diversity Network Inc 5 -0.1 -1.96 29.25M - 4.03 -1.44 0.029
BMC Software, Inc. 0 - - - 0 2,201.40 331 -
Trunkbow International Holdings Ltd 0 - - - 0 34.77 12.68 -
Acxiom Corporation 17.25 0.04 0.23 1.33B - 1,097.54 8.86 1.33
Network Equipment Technologies, Inc. 0 - - - - - - -
Park Electrochemical Corp. 24.36 0.12 0.5 509.78M - 165.76 -42.33 0.509
iCAD Inc 10.03 0.01 0.1 154.90M - 33.07 -7.61 0.154
Interphase Corporation 3 0.01 0.33 21.03M - 15.59 -2.7 0.021
Aeroflex Holding Corp. 10.5 - - 889.83M - 647.14 -104.25 0.889
Mitel Networks Corporation 9.32 0.01 0.11 1.03B - - - 1.03
Chinanet Online Holdings Inc 3.33 0.64 23.79 74.65M - 30.29 -0.23 0.075
SemiLEDs Corporation 0.459 0.039 9.33 13.06M - 17.97 -43.72 0.013
Fusion-IO, Inc. 0 - - 1.22B - 432.39 -38.23 1.22
Alibaba Group Holding Ltd 89.37 0.45 0.51 220.30B - 8,558.45 3,761.52 220
Twitter Inc 52.11 0.66 1.28 32.06B - 664.89 -645.32 32
Taylor & Martin Group Inc 0 0 0 - - - - -
CafePress Inc 3.24 -0.05 -1.52 56.07M - 245.86 -13.5 0.056
A10 Networks Inc 9.44 -0.01 -0.11 564.64M - 141.74 -29.08 0.564
Globant SA 13.39 0.42 3.24 458.24M - 158.32 13.9 0.458
TrueCar Inc 17.64 -0.25 -1.39 1.36B - 133.96 -25.06 1.36
Xunlei Ltd 10.84 -0.09 -0.78 691.95M - 174.59 2.27 0.692
LegalZoom. com Inc 0 - - - 0 156.07 4.67 -
Convio Inc 0 - - - 0 80.35 14.86 -
MICROS Systems, Inc. 0 - - - 0 1,405.40 182.01 -
Sony Corp (ADR) 17.39 0.12 0.69 19.07B - 71,364.47 -1,179.43 19.07
Koss Corporation 2.07 0.01 0.49 15.28M - 23.84 -5.55 0.015
LoJack Corporation 3.85 -0.08 -2.04 72.15M - 140.21 3.17 0.072
Asiainfo-Linkage Inc 0 - - 875.74M - 547.87 32.6 0.876
GigOptix Inc 1.18 -0.01 -0.84 38.00M - 28.93 -1.95 0.038
Imperva Inc 28.28 0.19 0.68 749.27M - 137.76 -25.18 0.749
Kenexa Corp 0 - - - - 282.94 -7.26 -
AutoNavi Holdings Ltd (ADR) 20.9 - - 1.13B - 141.67 -25.37 1.13
Sunedison Semiconductor Ltd 18.03 0.1 0.59 748.56M - 920.6 -57.7 0.748
Model N Inc 9.73 0.1 1.04 241.83M - 101.9 -0.93 0.242
The Rubicon Project Inc 12.06 -0.09 -0.74 432.51M - 83.83 -13.49 0.432
Wix.Com Ltd 16.33 0.2 1.24 615.11M - 80.47 -31.68 0.615
Rightside Group Ltd 10.42 -0.18 -1.7 191.87M - 185.19 -10.7 0.192
JD.Com Inc(ADR) 26.88 0.31 1.17 36.75B - 11,302.78 -405.11 36.7
Rally Software Development Corp 11.77 0.22 1.9 296.62M - 74.33 -20.13 0.296
Palo Alto Networks Inc 97.48 1.18 1.23 7.76B - 598.18 -226.45 7.76
Workday Inc 82 -0.09 -0.11 15.24B - 468.94 -172.51 15.24
Agilysys, Inc. 11.97 0.07 0.59 273.21M - 101.26 -2.9 0.273
NeoPhotonics Corp 3.45 0.01 0.29 112.30M - 282.24 -34.34 0.112
Neonode, Inc 2.05 -0.06 -2.84 82.93M - 3.72 -13.08 0.83
Semtech Corporation 27.51 0.01 0.04 1.85B - 594.98 -164.47 1.85
PMC-Sierra Inc 7.52 -0.01 -0.13 1.47B - 508.03 -32.25 1.47
Sigma Designs Inc 4.35 0.02 0.46 151.62M - 199.19 -11.05 0.152
Symmetricom Inc 0 - - - - - - -
Standard Microsystems Corporation 0 - - 856.12M - 412.1 10.66 0.856
Alpha and Omega Semiconductor Ltd 9.66 0.1 1.05 254.40M - 318.12 -3.31 0.254
FireEye Inc 32.09 0.38 1.2 4.78B - 161.55 -120.64 4.78
Covisint Corp 4.57 0.07 1.56 173.95M - 97.14 -35.66 0.173
ChannelAdvisor Corp 16.02 0.36 2.3 396.25M - 68 -20.63 0.396
Care.com Inc 8.39 0.21 2.57 263.14M - 81.49 -28.35 0.263
Zynga Inc 2.91 -0.04 -1.52 2.61B - 873.27 -36.98 2.61
Barracuda Networks Inc 24.82 0.36 1.47 1.28B - 233.79 -3.63 1.28
Mavenir Systems Inc 12.63 -0.15 -1.17 363.10M - 101.31 -15.29 0.363
Energous Corp 11.3 0.08 0.71 106.77M - 0 -5.52 0.107
Zendesk Inc 21.66 -0.11 -0.51 1.57B - 72.04 -22.62 1.57
GoPro Inc 80 -1.31 -1.61 10.08B - 985.74 43.85 10
IMS Health Holdings Inc 26.27 -0.13 -0.49 8.72B - 2,544.00 82 8.72
Supertex, Inc. 0 - - - 0 61 4.25 -
TSR Inc 3.16 0 0 6.19M - 49.53 -0.09 0.006
Pulse Electronics Corp 1.5 -0.76 -33.63 26.35M - 355.68 -27.13 0.026
Technical Communications Corporation 4.14 0.01 0.32 7.62M - 6.25 -0.71 0.008
Tekelec Global Inc 0 - - 762.88M - 423.96 15.01 0.762
Tellabs, Inc. 0 - - - - 1,052.60 -171.7 -
TII Network Technologies 2.14 - - 32.45M - 56.26 -3.13 0.032
Universal Security Instruments, Inc. 4.34 0.16 3.83 10.04M - 12.58 -4.45 0.01
Vicor Corp 9.22 0.14 1.54 355.37M - 199.16 -23.64 0.355
Vicon Industries, Inc. 2.46 0.08 3.36 11.12M - 39.85 0.02 0.011
Kingtone Wirelessinfo Solutions Hldg Ltd 3.02 0.2 7.09 4.59M - 11.56 -5.13 0.005
Sabre Corp 18 -0.3 -1.64 4.77B - 3,049.52 -130.02 4.77
Varonis Systems Inc 22.53 0.22 0.99 551.90M - 74.62 -7.48 0.551
Globoforce Ltd 0 - - - - 186.8 -6.55 -
Bazaarvoice Inc 7.3 0.09 1.25 570.01M - 168.14 -52.85 0.57
Benefitfocus Inc 27.88 -0.51 -1.8 710.34M - 104.75 -30.36 0.71
Cyan Inc 3.08 0.02 0.65 144.80M - 116.58 -40.73 0.144
Splunk Inc 54.96 0.9 1.66 6.59B - 302.62 -79.01 6.59
Infoblox Inc 14.85 0.37 2.56 817.72M - 250.34 -24.08 0.817
Opower Inc 18.03 0.04 0.22 888.81M - 88.7 -14.16 0.888
X-Rite, Incorporated 0 - - 478.05M 0 237.55 48.95 0.478
Chyronhego Corp 2.96 0.07 2.43 108.66M - 47.41 -7.84 0.109
Zoom Technologies Inc 2.7 0 0 8.12M - 0 -4.15 0.008
Advanced Photonix, Inc. 0.523 -0.027 -4.98 19.54M - 29.04 -4.26 0.019
Asure Software Inc 5.19 0.04 0.78 31.21M - 25.47 -1.66 0.031
Kopin Corporation 3.56 0.04 1.14 235.18M - 22.9 -24.86 0.235
Qumu Corp 13.4 0.35 2.68 117.33M - 82.47 -9.69 0.117
ARI Network Services, Inc. 3.2 0 0 43.06M - 30.1 -0.75 0.043
Acorn Energy Inc 1.63 0.01 0.62 36.17M - 21.76 -29.71 0.036
Vitesse Semiconductor 3.54 0.03 0.85 239.65M - 103.77 -22.08 0.239
Attunity Ltd 7.61 -0.19 -2.44 113.44M - 25.2 -0.63 0.113
ASM International NV (ADR) 36.33 0.02 0.06 2.28B - 783.66 1,346.32 2.28
IEC Electronics Corp 4.87 0 0 48.97M - 140.95 -9.53 0.049
Net Element Inc 9.36 - - 37.44M - 18.75 -46.97 0.037
InvenSense Inc 19.89 0.03 0.15 1.77B - 252.53 6.12 1.77
iSoftStone Holdings Ltd (ADR) 5.63 - - 329.21M - - - 0.329
Liberty Tripadvisor Holdings Inc 29.26 -15.74 -34.98 1.96B - - - 1.96
ServiceNow Inc 58.83 0.43 0.74 8.57B - 424.65 -73.71 8.57
Marin Software Inc 8.66 0.02 0.23 301.43M - 77.32 -35.85 0.301
Paycom Software Inc 17.5 0.51 3 893.22M - 107.6 1.24 0.893
RF Monolithics, Inc. 0 - - - 0 32.48 0.23 -
Brightpoint, Inc. 0 - - - 0 5,244.38 47.89 -
ATMI Inc 0 - - - 0 360.96 38.76 -
Datawatch Corporation 10.72 0.22 2.1 116.77M - 30.3 -4.2 0.117
Ultratech, Inc. 23.29 0.34 1.48 656.31M - 157.27 -13.77 0.656
JDS Uniphase Corp 12.88 0.02 0.16 2.96B - 1,743.20 -17.8 2.96
Gilat Satellite Networks Ltd. 4.95 0.08 1.64 210.17M - 234.87 -9.58 0.21
Ramtron International 3.09 - - 109.78M - - - 0.109
CIBER, Inc. 3.45 0.06 1.77 269.21M - 877.29 -7.6 0.269
Innodata Inc 2.97 0.02 0.68 75.31M - 64.25 -10.63 0.075
TriQuint Semiconductor 19.63 0.19 0.98 3.43B - 892.88 -38.01 3.43
MRV Communications, Inc. 12.36 0.02 0.16 91.04M - 166.2 -6.82 0.091
Tower Semiconductor Ltd. (USA) 10.13 0.02 0.2 532.18M - 505.01 -107.66 0.532
ModusLink Global Solutions, Inc. 3.62 -0.01 -0.28 187.99M - 754.5 -39.33 0.187
QLogic Corporation 9.22 0.03 0.38 809.70M - 460.91 -18.27 0.809
Speed Commerce Inc 2.75 0.13 4.96 180.65M - 107.08 -7.87 0.18
Revolution Lighting Technologies Inc 1.71 0.08 4.6 140.87M - 26.06 -20.47 0.141
ANADIGICS, Inc. 0.711 0.028 4.04 60.99M - 134.24 -53.98 0.061
STMicroelectronics NV (ADR) 7.59 0.06 0.86 6.92B - 8,082.00 -500 6.92
Astea International Inc. 1.99 0 0 7.24M - 20.34 -3.3 0.007
EasyLink Services International Corp. 0 - - - 0 164.77 22.68 -
Jda Software Group Inc 0 - - - 0 - - -
Accelrys Inc 0 - - - 0 168.53 5.69 -
Veeco Instruments Inc. 34.67 0.52 1.52 1.39B - 331.75 -42.26 1.39
Sunedison Inc 19.37 -0.05 -0.26 5.21B - 2,007.60 -593.5 5.21
CollabRx Inc 1.03 -0.02 -1.9 3.01M - 0.66 -3.47 0.003
RadiSys Corporation 2.82 0.02 0.71 102.22M - 237.86 -49.4 0.102
Nuance Communications Inc. 15.1 -0.04 -0.26 4.82B - 1,855.28 -115.24 4.82
Daegis Inc 0.8 0.05 6.65 13.11M - 30.96 -1.62 0.013
BroadVision, Inc. 8.71 0.01 0.12 41.89M - 15.6 -5.42 0.041
ParkerVision, Inc. 1.18 0 0 114.48M - 0 -27.87 0.114
Optical Cable Corporation 4.47 0.06 1.36 30.72M - 75.27 -0.04 0.031
Authentidate Holding Corp. 0.67 -0.001 -0.12 27.86M - 4.83 -12.64 0.028
Smith Micro Software, Inc. 0.94 -0.01 -1.04 35.96M - 42.68 -27.95 0.036
Cymer, Inc. 0 - - - - 538.62 -36.36 -
GSE Systems, Inc. 1.6 -0.01 -0.62 28.62M - 47.56 -10.51 0.029
Imation Corp. 2.93 0.01 0.34 125.61M - 860.8 -24.4 0.125
Wave Systems Corp. 1.12 -0.03 -2.26 51.59M - 24.4 -20.32 0.051
Adept Technology Inc 8.14 0.06 0.74 106.63M - 57.54 -0.78 0.106
Peerless Systems Corp. 4.45 0.03 0.68 12.10M - 3.6 -0.86 0.012
INX Inc 0 - - 85.87M 0 311.98 5.35 0.086
Globecomm Systems Inc 0 - - - 0 319.61 15.24 -
S1 Corp 0 - - 576.77M 0 209.09 -6.28 0.576
KVH Industries, Inc. 11.9 0.12 1.02 189.25M - 162.29 4.53 0.189
Performance Technologies 0 - - - - 23.32 -7.14 -
Bluephoenix Solutions Ltd 3.69 0.1 2.7 41.69M - 10.62 -9.96 0.042
Taitron Components Inc. 1 0 0 5.54M - 6.27 -0.93 0.006
SeaChange International 6.97 -0.03 -0.43 227.13M - 146.32 -2.23 0.227
SRS Labs, Inc. 0 - - - - 32.87 1.12 -
Polycom Inc 12.27 -0.11 -0.89 1.68B - 1,368.39 -18.54 1.68
Overland Storage Inc 3.22 -0.18 -5.29 56.63M - 48.02 -19.65 0.056
Ciena Corporation 17.42 0.07 0.4 1.86B - 2,082.55 -85.43 1.86
EMCORE Corporation 5.9 0.03 0.51 181.19M - 168.15 4.96 0.181
ViaSat, Inc. 55.06 -0.2 -0.36 2.57B - 1,351.46 -9.45 2.57
EPIQ Systems, Inc. 17.96 0.01 0.06 646.56M - 482.08 11 0.646
Versant Corp 12.95 - - 35.25M - - - 0.035
Rambus Inc. 12.86 0.52 4.21 1.47B - 271.5 -33.75 1.47
Identiv Inc 13.42 0.1 0.75 135.01M - 75.61 -23.89 0.135
Myfonts Inc 0 - - 46.36M - 23.14 -3.24 0.046
Resonant Inc 6.24 -0.02 -0.39 43.00M - 0 -9.4 0.043
Fundtech Ltd. 0 - - - 0 141.94 12.53 -
Innotrac Corporation 0 - - 108.48M 0 107.69 3.48 0.108
MIPS Technologies, Inc. 0 - - - 0 86.23 14.27 -
Intermec Inc. 0 0 0 - - 790.09 -282.5 -
Hypercom Corporation 0 - - 534.94M - 468.45 6.45 0.535
RealNetworks Inc 7.04 0.04 0.57 253.41M - 206.2 -58.99 0.253
Applied Micro Circuits Corporation 7.03 0.13 1.88 549.71M - 216.15 -5.69 0.549
Microvision, Inc. 1.93 0.01 0.52 83.97M - 5.85 -13.18 0.084
Mercury Systems Inc 11.04 0.03 0.27 374.95M - 208.73 -4.07 0.375
RADCOM Ltd. 5.92 0 0 48.01M - 20.48 -1.42 0.048
Alcatel Lucent SA (ADR) 3.12 0.01 0.32 9.03B - 18,476.70 -1,648.52 9
Sonic Foundry Inc 9.28 0.14 1.51 41.28M - 27.76 -0.79 0.041
WidePoint Corporation 1.67 -0.03 -1.76 122.13M - 46.83 -1.69 0.122
AXT Inc 2.46 -0.07 -2.77 80.35M - 85.34 -8.14 0.08
Actuate Corp 4 0.02 0.5 185.47M - 134.52 6.8 0.185
Echelon Corporation 2.16 -0.05 -2.26 94.05M - 86.16 -17.61 0.094
RiT Technologies Ltd. 1.56 -0.07 -4.29 20.28M - 11.18 -9.53 0.02
Digital River, Inc. 14.56 0 0 465.62M - 389.68 -18.53 0.465
eBay Inc 52.12 -0.03 -0.06 64.69B - 16,047.00 2,856.00 65
NetSol Technologies Inc. 3.62 0.01 0.41 33.28M - 36.38 -12.51 0.033
Blue Coat Systems Inc 0 - - 1.11B 0 487.11 43.16 1.11
Keynote Systems, Inc. 0 - - - 0 - - -
Ariba Inc 0 - - 4.58B 0 443.84 -2.98 4.58
Dell Software Inc 0 - - 2.38B 0 857.42 43.98 2.38
Concur Technologies, Inc. 126.83 0.21 0.17 7.23B - 545.8 -24.39 7.23
Bottomline Technologies 26.86 0.59 2.25 1.06B - 300.58 -19.1 1.06
Extreme Networks, Inc 4.66 0.11 2.31 453.36M - 519.55 -57.31 0.453
Ditech Networks Inc. 1.45 - - 38.86M - 16.67 -10.58 0.039
BlackBerry Ltd 10.47 0.66 6.79 5.52B - 6,813.00 -5,873.00 5.52
MeetMe Inc 2 -0.01 -0.5 89.44M - 40.38 -10.9 0.089
Cyren Ltd 2.16 -0.06 -2.7 57.43M - 32.25 -9.87 0.057
VirnetX Holding Corporation 5.9 0.45 8.26 304.28M - 2.2 -27.61 0.304
Quantum Corp 1.16 -0.01 -0.85 294.45M - 553.16 -21.47 0.294
Actua Corp 16.52 0.77 4.89 680.24M - 59.2 -23.28 0.68
LookSmart, Ltd. 1.77 0.12 7.27 10.21M - 6.68 -5.36 0.01
Interactive Intelligence Group Inc 41.29 0.05 0.11 866.00M - 318.23 9.52 0.866
InterNAP Network Services 6.71 0.1 1.51 364.93M - 283.34 -19.83 0.365
QuickLogic Corporation 3.11 -0.03 -0.96 173.49M - 26.07 -12.28 0.173
BSQUARE Corporation 3.81 0 0 44.35M - 92.11 -5.26 0.044
Vertro Inc 0 - - 9.27M - 35.89 1.86 0.009
Viasystems North America Inc 0 - - - 0 263.39 21.84 -
Websense Inc 0 - - - 0 361.46 18.35 -
PFSweb, Inc. 10.45 0.31 3.06 175.16M - 241.6 -5.89 0.175
Crexendo Inc 2.95 0 0 33.09M - 10.33 -4.96 0.033
Mad Catz Interactive, Inc. (USA) 0.48 -0.02 -3.98 30.77M - 89.63 -7.44 0.03
Intellicheck Mobilisa, Inc. 4.01 0.15 3.89 19.78M - 7.3 -2.42 0.02
Pinnacle Data Systems, Inc. - - - - - 29.44 3.06 -
Inventergy Global Inc 1.6 -0.03 -1.55 38.37M - 20.59 0.01 0.038
GigaMedia Limited 0.85 -0.022 -2.51 43.22M - 15.03 -34.46 0.043
UTStarcom Holdings Corp 2.83 -0.01 -0.35 107.01M - 164.44 -22.72 0.107
RADVISION LTD. (USA) 0 - - 219.69M - 77.96 -23.42 0.219
Selectica Inc 5.82 0.19 3.45 37.60M - 15.79 -11.69 0.037
LivePerson, Inc. 12.64 0.08 0.64 679.75M - 177.8 -3.5 0.679
Pixelworks, Inc. 6.63 -0.03 -0.45 151.86M - 48.12 -8.87 0.151
Sonus Networks, Inc. 3.61 0.04 1.12 890.93M - 276.73 -22.12 0.89
Viasystems Group, Inc. 15.81 0.07 0.44 330.76M - 1,171.05 -28.22 0.331
Rediff.com India Limited (ADR) 2.29 0 0.09 63.24M - 16.25 -6.11 0.063
Clicksoftware Technologies Ltd 8.11 -0.01 -0.12 267.00M - 103.18 -4.16 0.267
Qualstar Corporation 1.24 0 0 15.19M - 12.64 -10.36 0.015
Sohu.com Inc 52.19 0.13 0.26 2.01B - 1,400.27 -15.3 2.01
Network Engines, Inc. 0 - - 61.87M 0 - - 0.068
Magma Design Automation LLC 0 - - 510.08M 0 139.29 -3.26 0.51
RightNow Technologies 0 - - 1.43B 0 185.52 28.39 1.43
SMTC Corporation (USA) 1.75 -0.01 -0.57 28.73M - 270.68 -11.9 0.029
Sierra Wireless, Inc. (USA) 27.08 0.6 2.25 852.57M - 441.86 -15.55 0.852
eMagin Corporation 2.4 0.04 1.69 59.99M - 27.99 -14.07 0.06
Lantronix Inc 1.92 0.08 4.34 28.39M - 44.55 -0.93 0.028
TeleCommunication Systems, Inc. 2.83 0.03 1.11 168.58M - 362.29 -58.6 0.168
Ceragon Networks Ltd 2.22 0.01 0.45 169.96M - 361.77 -47.48 0.169
TTM Technologies, Inc. 6.89 0.02 0.29 574.24M - 1,368.22 21.88 0.574
HGST Technologies Santa Ana Inc 0 - - - - 168.31 -103.22 -
Oplink Communications, Inc 16.53 -0.11 -0.66 282.93M - 204.78 -1.22 0.283
Ixia 9.19 -0.01 -0.11 716.96M - 467.26 11.87 0.716
O2Micro International Limited (ADR) 2.7 0.12 4.65 75.15M - 73.78 -19.09 0.075
MakeMusic, Inc. 4.84 - - 23.71M - - - 0.023
Novatel Wireless Inc 3.48 0.31 9.64 128.05M - 335.05 -43.41 0.128
MoSys Inc. 2.48 -0.06 -2.36 122.93M - 4.4 -24.79 0.123
Unwired Planet Inc 1.93 0.04 2.12 215.70M - 36.4 0.45 0.215
FalconStor Software, Inc. 1.13 0 -0.14 54.20M - 58.64 -11.28 0.054
Park City Group, Inc. 9.96 0.11 1.12 170.38M - 11.93 -3.11 0.17
Volterra Semiconductor LLC 0 - - - 0 168.04 22.85 -
Shanda Interactive Entertainment Ltd ADR 0 - - 2.24B 0 908.31 95.13 2.24
TNS, Inc. 0 0 0 - 0 - - -
Mantech International Corp 27.65 -0.05 -0.18 1.03B - 2,310.07 -6.15 1.03
Advantest Corp (ADR) 12.71 -0.02 -0.16 2.59B - 1,027.92 -326.54 2.59
FormFactor, Inc. 7.43 0.07 0.95 418.89M - 231.53 -57.68 0.418
CUI Global Inc 7.11 0.1 1.43 147.48M - 60.65 -0.94 0.147
On Track Innovations Ltd (USA) 2.94 -0.04 -1.34 97.67M - 19.87 -6.82 0.097
Mindspeed Technologies, Inc. 0 - - - - 151.4 -89.15 -
salesforce.com, inc. 56.07 0.15 0.27 34.71B - 4,071.00 -232.18 0.034
Callidus Software Inc. 11.78 0.09 0.77 566.66M - 112.34 -21.41 0.566
Tessera Technologies, Inc. 27.29 0.3 1.12 1.43B - 168.91 -157.59 1.43
Incontact Inc 8.62 0 0 524.26M - 130.04 -9.02 0.524
Xyratex Ltd. 0 - - - - 814.32 -21.21 -
Multi-Fineline Electronix, Inc. 9.61 0.08 0.84 232.25M - 787.64 -65.53 0.232
NetLogic I LLC 0 - - - - 405.41 -56.7 -
Renren Inc 3.44 0.12 3.61 906.18M - 156.69 -39.6 0.906
Brightcove Inc 5.8 0.03 0.46 186.80M - 109.9 -10.26 0.186
Exa Corp 11.93 0.32 2.76 164.70M - 54.51 -0.71 0.165
Five9 Inc 5.99 0 0 290.00M - 84.13 -31.31 0.29
China Grentech Corp Ltd (ADR) 0 - - 77.75M 0 280.53 16 0.078
GeoEye Inc. 0 - - 808.25M 0 356.41 46.91 0.808
Ness Technologies, Inc. 0 - - - - 571.79 8.41 -
Procera Networks Inc 9.74 0.14 1.46 201.32M - 74.67 -16.28 0.201
Local Corporation 1.88 0.03 1.62 43.67M - 94.4 -6.63 0.44
The9 Limited (ADR) 2.58 0 0.12 74.37M - 17.08 -85.78 74.37M
Elephant Talk Communications Corp 0.967 -0.003 -0.28 142.37M - 22.83 -22.13 0.142
Ku6 Media Co Ltd (ADR) 1.32 -0.01 -0.66 62.84M - 13.14 -34.43 0.063
VeriFone Systems Inc 35.12 0.1 0.29 3.97B - 1,702.22 -296.06 3.97
Silicon Graphics International Corp 9.4 0.13 1.41 325.36M - 529.95 -52.81 0.325
Vocus, Inc. 0 - - 389.00M - 186.93 -21.81 0.389
Advanced Analogic Technologies Incorp. 0 - - 258.28M - 94.06 -12.75 0.258
Ikanos Communications, Inc. 0.35 -0.012 -3.39 34.76M - 79.75 -30.39 0.035
Oracle Taleo LLC 0 - - - - 308.9 -17.43 -
Web.com Group Inc 20.35 0.14 0.69 1.06B - 492.32 -65.66 1.06
Actions Semiconductor Co., Ltd. (ADR) 2.15 0 0 147.26M - 69.39 0.12 0.147
Vimicro International Corporation (ADR) 8.29 0.42 5.36 198.76M - 64.52 -8.42 0.198
DealerTrack Technologies Inc 44.5 -0.37 -0.82 2.40B - 481.53 5.54 2.4
Spansion Inc. 22.5 0.19 0.85 1.38B - 971.69 -78.27 1.38
Xplore Technologies Corp. 5.01 0 0 42.27M - 35.58 -1.76 0.042
Sourcefire LLC 0 - - - 0 223.09 5.03 -
TigerLogic Corp. 0.951 -0.049 -4.9 29.42M - 5.49 -7.26 0.029
eFuture Information Technology Inc. 4.44 0.13 3.01 17.47M - 32.26 -1.21 0.017
Acme Packet, Inc. 0 - - - - 274.44 -5.24 -
LiveDeal Inc 2.97 0.01 0.34 42.70M - 2.35 -5.75 0.043
Netlist, Inc. 1.08 0.01 0.93 44.80M - 23.05 -10.77 0.044
AIXTRON SE (ADR) 15.56 1.18 8.21 1.76B - 234.05 -129.29 1.76
Guidance Software, Inc. 6.95 0.11 1.61 203.29M - 110.52 -21.5 0.203
Mellanox Technologies, Ltd. 41.45 0.45 1.1 1.86B - 390.86 -22.86 7.86
Opnext, Inc. 0 - - - - 299.83 -84.35 -
Bridgeline Digital Inc 0.677 -0.003 -0.44 14.82M - 24.51 -3.6 0.015
Aruba Networks, Inc. 21.28 -0.39 -1.8 2.32B - 600.04 -31.61 2.32
Glu Mobile Inc. 5.49 0.05 0.83 529.09M - 105.61 -19.91 0.529
BigBand Networks, Inc. 0 - - - - 111.72 -31.57 -
GSI Technology, Inc. 5.41 -0.06 -1.1 148.77M - 58.58 -6.19 0.149
Solera Holdings Inc 56.57 0.16 0.28 3.88B - 987.26 -9 3.88
ShoreTel Inc 6.84 0.02 0.29 431.43M - 339.79 -1.04 0.431
Cavium Inc 50.09 0.2 0.4 2.69B - 303.99 -2.96 2.69
Sequans Communications SA ADR 1.96 0.05 2.62 67.66M - 13.71 -35.59 0.068
Geeknet Inc 9.64 -0.13 -1.33 64.73M - 138.26 -0.17 0.065
Spreadtrum Communications, Inc (ADR) 0 - - - 0 - - -
VanceInfo Technologies Inc.(ADR) 0 - - - 0 283.14 22.19 -
Infinera Corp. 10.69 -0.05 -0.46 1.32B - 544.12 -32.12 1.32
Limelight Networks, Inc. 2.39 0.05 2.14 235.21M - 173.43 -34.98 0.235
COMSCORE, Inc. 37.58 0.45 1.21 1.28B - 286.86 -2.33 1.28
PROS Holdings, Inc. 25.33 0.3 1.2 734.16M - 144.84 3.45 0.734
SoundBite Communications Inc 0 - - 82.43M - - - 0.082
DemandTec, Inc. 0 - - - - 82.42 -13.66 -
Mandalay Digital Group Inc 4.76 -0.08 -1.63 178.46M - 24.4 -17.2 0.178
NetSuite Inc 88.58 2.08 2.4 6.77B - 414.51 -70.41 6.77
Stream Global Services, Inc. 3.26 - - 3,260.00 - 860.31 -12.95 3.26
SuccessFactors Inc 0 - - 3.39B - 205.93 -12.45 3.39
Entropic Communications, Inc. 2.78 0.03 1.09 246.81M - 259.38 -66.15 0.248
CounterPath, Corp. 0.935 -0.005 -0.52 39.07M - 11.68 -5.91 0.039
PAR Technology Corporation 4.86 0 0 75.90M - 241.39 0.57 0.076
GTT Communications Inc 12.22 0.1 0.83 351.15M - 157.37 -20.79 0.351
Rubicon Technology, Inc. 4.49 -0.02 -0.44 117.44M - 41.51 -30.35 0.117
MEMSIC, INC. 0 - - - - 63.81 -0.99 -
Remark Media Inc 6.6 -0.06 -0.9 80.62M - 2.05 -6.97 0.08
Pansoft Company Limited 4.15 - - 22.06M - 19.17 1.42 0.022
Black Knight InfoServ LLC 0 - - 3.25B 0 1,997.65 79.44 3.25
Responsys Inc 0 - - - 0 162.82 7.58 -
Rosetta Stone Inc 8.11 0.07 0.87 172.71M - 264.64 -16.13 0.172
Pactera Technology Intl Ltd (ADR) 0 - - - - 670.02 7.84 -
Camelot Information Systems Inc (ADR) 2.03 - - 94.02M - 254.06 -40.55 0.094
Boingo Wireless Inc 7.24 0.03 0.42 259.26M - 106.75 -3.79 0.259
Sysorex Global Holdings Corp 3.86 -0.03 -0.77 76.16M - 50.57 -4.26 0.076
Vringo, Inc. 0.99 0 0 91.62M - 1.1 -42 0.091
Digimarc Corp 20.5 0.15 0.74 155.33M - 34.96 -0.7 0.155
UniPixel Inc 5.76 0.08 1.41 71.14M - 5.08 -15.18 0.071
Synacor Inc 1.86 -0.06 -3.12 51.36M - 111.81 -1.37 0.051
GFI Software SA 0 0 0 - - 118.43 -24.09 -
Liberty Tripadvisor Holdings Inc 33.95 0.34 1.01 2.40B - 1,034.00 -7 2.4
Marketo Inc 31.23 0.27 0.87 1.27B - 95.92 -47.36 1.27
Avast Software BV - - - - - 82.1 26.47 -
E2open Inc 10.21 0.13 1.29 297.11M - 71.24 -25.07 0.297
Angie's List Inc 6.58 -0.08 -1.24 384.88M - 245.64 -32.99 0.384
Qunar Cayman Islands Ltd 28.7 -0.32 -1.09 3.40B - 138.71 -30.53 3.04
ExactTarget Inc 0 0 0 - - 292.27 -20.96 -
M/A-COM Technology Solutions Holdings 23.19 0.35 1.53 1.10B - 318.72 27.31 1.1
Cypress Semiconductor Corporation 10.01 0.03 0.3 1.59B - 722.69 -46.36 1.59
Diebold Inc 35.61 -0.14 -0.39 2.30B - 2,857.49 -181.6 2.3
Active Network Inc 0 - - - - - - -
Intermolecular Inc 2.28 0.02 0.88 108.96M - 67.41 -8.82 0.109
xG Technology Inc 1.97 -0.02 -1 47.75M - 0.41 -27.45 0.048
Youku Tudou Inc (ADR) 18.2 0.2 1.11 3.07B - 493.66 -94.66 3.07
Global Market Group Ltd 0 - - - - - - -
GrubHub Inc 34.17 -0.55 -1.58 2.74B - 137.14 5.67 2.74
Cyberark Software Ltd 29.28 -2.11 -6.73 866.08M - 66.16 1.76 0.866
Q2 Holdings Inc 14.02 -0.06 -0.43 479.36M - 56.87 -17.68 0.479
Textura Corp 28.26 -0.39 -1.36 718.48M - - - 0.718
Gigamon Inc 10.91 0.29 2.73 349.25M - 140.3 -9.52 0.349
NXT-ID Inc 2.86 0.02 0.71 69.09M - 0 -1.54 0.069

Total $325,844 -$8,429 $705 B

40 Companies of the 794 have a PE Greater than 100 -

Company Quote Change Change% Market Cap P/E (ttm) Ann. Revenue Ann. Net Income
Tableau Software Inc 72 1.02 1.44 4.95B 8,256.88 232.44 7.08 4.95
RADA Electronic Ind. Ltd. 2.61 0.07 2.76 23.28M 4,745.64 21.76 -2.64 0.023
athenahealth, Inc 128.54 0.68 0.53 4.88B 1,971.77 595 2.59 4.88
Acquity Group Ltd 12.96 - - 304.77M 1,851.43 141.01 3.25 0.305
Cvent Inc 26.69 0.43 1.64 1.13B 1,675.46 111.14 -3.24 1.13
Helios and Matheson Analytics Inc 2.82 0 0 6.29M 708.54 13.29 0.38 0.006
LogMeIn Inc 45.96 0.21 0.46 1.13B 636.57 166.26 -7.68 1.13
Microsemi Corporation 24.65 -0.17 -0.68 2.35B 499.19 975.94 43.67 2.35
Medidata Solutions Inc 44.5 0.03 0.07 2.40B 386.62 276.85 16.66 2.4
Knowles Corp 27.08 0.2 0.74 2.30B 384.55 1,214.80 105.81 2.3
Qualys Inc 26.14 0.41 1.59 862.27M 373.05 107.96 1.62 0.862
Guidewire Software Inc 45.06 0.33 0.74 3.11B 372.12 350.25 14.72 3.11
Allegion PLC 48.23 0.02 0.04 4.63B 260.24 2,093.50 31.8 4.63
E Commerce China Dangdang Inc (ADR) 12.5 0.04 0.32 1.01B 252.37 1,031.01 -23.29 1.01
DSP Group, Inc. 8.87 0.07 0.8 195.24M 249.65 151.06 2.68 0.195
Cheetah Mobile Inc (ADR) 20 -0.71 -3.43 2.80B 239.95 122.24 10.11 2.8
Tangoe Inc 13.5 0.28 2.12 523.56M 215.07 188.91 4.96 0.523
HomeAway, Inc. 33.66 0.6 1.81 3.16B 204.43 346.49 17.69 3.16
Trio-Tech International 4.14 -0.06 -1.43 14.54M 171.29 31.77 -0.28 0.015
Materialise NV (ADR) 10.95 -0.14 -1.26 527.33M 165.56 87.96 4.49 0.527
TechTarget Inc 8.4 0.02 0.24 277.60M 147.65 88.5 -1.84 0.278
RealPage, Inc. 15.32 0.06 0.39 1.21B 146.25 377.02 20.69 1.21
Applied Optoelectronics Inc 16.74 -0.22 -1.3 247.83M 141.22 78.42 -1.41 0.248
The Ultimate Software Group, Inc. 141.63 1.73 1.24 4.00B 141.01 410.4 25.53 4
Adobe Systems Incorporated 67.9 0.19 0.27 33.77B 140.79 4,055.24 289.98 0.141
Riverbed Technology, Inc. 18.61 0 0 2.97B 138.1 1,041.03 -12.42 0.138
Rovi Corporation 20.07 0.06 0.3 1.90B 136.45 538.07 20.36 1.9
3D Systems Corporation 47.49 -0.32 -0.67 5.22B 136.29 513.4 44.11 5.22
Netflix, Inc. 448.77 5.28 1.19 26.97B 134.9 4,374.56 112.4 26.97
One Horizon Group Inc 2.06 0 0 67.82M 133.33 9.11 -0.59 0.068
InterXion Holding NV 27.19 0.12 0.44 1.87B 124.79 393.07 8.73 1.87
MER Telemanagement Solutions Ltd. 1.56 -0.02 -1.27 7.29M 122.26 12.47 1.33 0.007
SINA Corp 43.25 0.22 0.51 2.86B 121.31 665.11 45.13 2.86
Jumei International Holding Ltd(ADR) 24.68 0.36 1.48 3.57B 115.33 483 15.81 3.57
Fortinet Inc 25.17 0.13 0.52 4.12B 114.64 615.3 44.27 4.12
Unicom Government Inc 7.76 - - 75.06M 113.77 356.67 0.51 0.075
OpenTable Inc 102.95 - - 2.44B 109.98 190.05 33.38 2.44
Quality Systems, Inc. 13.97 0.12 0.87 841.00M 106.59 444.67 15.68 0.841
Atmel Corporation 8.18 0.09 1.05 3.42B 105.58 1,386.45 -22.06 3.42
Brooks Automation, Inc.(USA) 10.74 0.02 0.19 717.52M 100.43 450.95 -2.22 0.717

TOTAL $24,743 $868 $96 B

GRAND TOTAL $350,587 -$7,561 $801 B
Revenue Income/Loss Market Cap