Exited XRTX at $16.10, 30% Gain in 7 Months

I closed out my stake in Xyratex, (XRTX) today for a 29.94 % gain (excluding dividends). The stock was initially purchased on June 30, 2011. Average cost for this and subsequent purchases was $12.39/share.

The position in this stock in the Value Stock Guide portfolio was closed as the stock hit the target price today. Currently I believe the stock to be fairly valued given all the information available. Interestingly, Brean Murray recently reiterated their Buy rating on Xyratex  and raised their price target to $18. I mostly agree that the future of the company is looking better every day, however, I think the stock is fairly valued now and there are other better undervalued opportunities available elsewhere.

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