Your comment made me realize I had made my favourite mistake when analyzing MLX: my CF/MC calcs use 100% CF, not MLX's 50% share, so those the CF/MC yield is actually 15%.
IMO, the BB limit should be based on valuation, not an arbitrary price level. Annualizing the Q4E CF we get a CF/EV of 56%. There is nothing more accretive to shareholder value than buying back shares at that valuation.
MLX Price at posting:
39.5¢ Sentiment: Buy Disclosure: Held
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