Same story with Hutchinson Technology. Trying our patience on a quarter-to-quarter basis, basic story still intact, less variance in expected outcomes both at the high and low ends of possible outcomes, and more insider open-market buying to help settle our nerves.
I don't have much new to say about it. I continue to view it as an overweight position with a high expected return. It might be useful to convert some of the position to other securities as new opportunities are found, but in that case I think it would be useful to retain exposure to HTCH quarterly-report-related price shocks with call options.
I would have hoped to be closer to 125 million units a quarter by now, but we are seeing significant growth in revenues from Seagate, and management is still guiding that 50% of sales will be DSA units by the end of the 2014 fiscal year.