Q2 Preview: Cirrus (CRUS) Looking to Benefit from Apple's (AAPL) Report
Tweet
Share
E-mail
Get Alerts CRUS Hot Sheet
Price: $116.90 --0%
Rating Summary:
13 Buy, 5 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 23
Rating Summary:
13 Buy, 5 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 23
Join SI Premium – FREE
Shares of Cirrus Logic Inc. (NASDAQ: CRUS) are trading 25 cents or 1.56 percent higher at $16.31 in late market movement on Wednesday ahead of the company's second-quarter earnings results expected to be released before the opening bell on Thursday.
The circuit maker is expected by analysts to report earnings for the quarter of 42 cents per share on sales of $101.28 million.
In the company's fiscal first quarter, it reported earnings of 29 cents per share, a penny higher than the analyst estimate. Revenue for the first quarter was $81.9 million, compared to the market consensus of $81.4 million.
Since the start of the quarter, Cirrus shares are down $1.86 or 10.25 percent. Year-to-date the stock is up $9.47 or 138.86 percent.
A valuation shows that Cirrus is going for a forward P/E of 19.72x full-year 2010 estimates.
Data from Bloomberg shows that 3 analysts have a Buy rating on Cirrus, 3 have a Hold and 1 has a Sell. The average price target on Cirrus is $21.25 and the average target range is $18 to $24.
Comments from Analysts
Capstone Investments sees a severe disconnect between key Apple Inc. (NASDAQ: AAPL) supplier Cirrus and Dialog Semiconductor.
"In our opinion we find it difficult to suggest DLG shares should outperform Cirrus by 40 percent given both companies supply key components for key products such as iPod, iPhone and iPad."
Capstone downgraded Dialog to Hold from Buy on Wednesday, saying that Cirrus offers investors the pure play on Apple component investment.
Capstone reiterated its Strong Buy rating on Cirrus with a price target of $23.
The circuit maker is expected by analysts to report earnings for the quarter of 42 cents per share on sales of $101.28 million.
In the company's fiscal first quarter, it reported earnings of 29 cents per share, a penny higher than the analyst estimate. Revenue for the first quarter was $81.9 million, compared to the market consensus of $81.4 million.
Since the start of the quarter, Cirrus shares are down $1.86 or 10.25 percent. Year-to-date the stock is up $9.47 or 138.86 percent.
A valuation shows that Cirrus is going for a forward P/E of 19.72x full-year 2010 estimates.
Data from Bloomberg shows that 3 analysts have a Buy rating on Cirrus, 3 have a Hold and 1 has a Sell. The average price target on Cirrus is $21.25 and the average target range is $18 to $24.
Comments from Analysts
Capstone Investments sees a severe disconnect between key Apple Inc. (NASDAQ: AAPL) supplier Cirrus and Dialog Semiconductor.
"In our opinion we find it difficult to suggest DLG shares should outperform Cirrus by 40 percent given both companies supply key components for key products such as iPod, iPhone and iPad."
Capstone downgraded Dialog to Hold from Buy on Wednesday, saying that Cirrus offers investors the pure play on Apple component investment.
Capstone reiterated its Strong Buy rating on Cirrus with a price target of $23.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- CrowdStrike (CRWD) PT Lowered to $227 at Scotiabank
- Goldman Sachs Downgrades Shanghai Jahwa United (600315:CH) to Neutral
- Wells Fargo Starts Vivmark Residential (VMRK) at Overweight, 'Setting the mark for growth'
Create E-mail Alert Related Categories
Analyst Comments, Earnings, Insiders' BlogRelated Entities
Capstone Investments, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
