CRUS moved 18+ AH after Apple CC.
Get ready for the run to 20+.
Did I say Apple earnings tomorrow ... wholy ...
Apple will reveal the new products today
Rumors that Apple will have three iphones going forward 4, 4S and 5. And the voice activated "Assistant" imo will be a huge hit.
If the rumors prove true, this will be a lot of business (along with presence in other Aapl products) for CRUS. Remember, the CEO had hinted big ramp-ups for this Qtr.
This stock has history of making major moves, currently highly undervalued. Lot of fuel and potential to run higher.
Hoping for the markets to coorperate a bit for rest of the year.
CRUS is a steal at these levels.
CRUS chip is confirmed in iphone4S
Itron, which uses crus chips in meters, is believed to be big beneficiary of the build-out of smart grid.
CRUS reports earnings on Wednesday after the bell.
With apple products breaking records, LED bulbs gaining momentum, improvement in energy business; CRUS could be $30 in couple of Qs.
There is also speculation/rumors that CRUS will announce new partnerships (possibly LED lighting related) in the cc.
Should run past earnings. IMO, this stock will outperform.
+16% Here it goes again!
Jan 09 - Cirrus Logic Announces Preliminary Q3 Revenue Grows 28 Percent Year Over Year to $122 Million. Up from their earlier forecast range of $102 million and $108 million; and analyst concensus was around $ 105 Million.
Company expects Q4 revenues of approximately $105 Million, an increase of 15% YoY.
1. Stifel Nicolaus has upgraded Cirrus Logic CRUS from Hold to Buy and has established a $26 price target.
2. Needham & Company raised their price target on shares of Cirrus Logic from $23.00 to $25.00
3. Oppenheimer raised their EPS estimates on shares of Cirrus Logic
Analysts are predicting that Apple growth and LED chips will take CRUS to 28+. I am hoping by the end of year. So, lower 20s is not a bad buy IMO. However, keep in mind that this stock has history of moving too fast too far in either direction, I do no bad sign other than market uncertainty/volatility. Looking at the company fundamentals, no doubts you will be rewarded. It is a matter of staying the course.
In short term, the catalyst is New iPad, which starts shipping on March 16. Folks will teardown to see the suppliers as soon as they get hands on one. Upon confirmation of crus, I believe the stock will have good run.
APPL has made a big leap in short time forming an island, lately techicians were looking for a pullback (island reversal), who knows when it happens. Seeing Tuesdays drop, I thought market was going to pullback further ... surely I was wrong. I sold my trading portion of CRUS at 23 but maintain core. Will add to it, hopefully next week.
You must have seen - here is comments from an analyst on Feb 24
Oppenheimer & Co.’s Rick Schafer raised his rating on the stock to Outperform from Perform, with a $28 price target, writing that the company “effectively owns Apple’s audio codec business,” and that it will likely hold that position this year
"Canaccord Genuity‘s Bobby Burleson today initiated coverage of chip maker Cirrus Logic (CRUS) with a Buy rating and a $35 price target, in advance of the company’s fiscal Q2 earnings call tonight.
Burleson opines that estimates will go higher after the report, thanks to a “strong outlook on new product introductions from Apple (AAPL) holding higher Cirrus Logic dollar content” for the company’s audio encoder/decoder chips.
“Recent checks show components from various suppliers have begun shipping for iPhone 5 builds, despite lingering questions about the timing of the
phone’s introduction,” writes Burleson. (Note there has been some chatter today about the next iPhone being introduced in September.)
Apple made up 63% of Cirrus’s revenue in the March quarter, notes Burleson.
Burleon also sees a bright future, if you will, for the company’s energy-related products, such as controller chips for light-emitting diode, or LED lighting products:
As with its other product, Cirrus is working to drive growth in LED lighting through a focus on tier-1 OEMs and high-performance solutions. A key ingredient for potential success in this area is the intelligence behind company’s digital LED controllers, which allows them to work with virtually every dimmer at high efficiency. Flexibility lowers potential for returns, a chief consideration of customers targeting retail sales. Flexibility was achieved by literally scouring the world (including flea markets in China) in order to incorporate the hundreds of dimmers that could possibly find their way into the average home into Cirrus’s solution.
For the quarter just ended, Burleson is modeling $101 million in revenue and 20 cents EPS, which is roughly in line with the Street consensus of $100.9 million and $21 cents.
For the full fiscal year, Burleson sees revenue of $553 million and $1.71, which is higher than the current consensus of $545 million and $1.68.
Cirrus shares today are up 74 cents, or 2.5%, at $29.70."
Chip maker Cirrus Logic (CRUS) this afternoon reported fiscal Q1 revenue below analysts’ estimates, profit per share that beat by a penny, and a Q2 view for revenue that is well above what the Street has been modeling.
Revenue in the three months ended in June rose to $99 million, yielding EPS of 22 cents.
Analysts on averaged had been modeling $100.9 million and 21 cents per share.
For the current quarter, the company sees revenue in a range of $170 million to $190 million, better than the consensus estimate for $131 million.
Shares of Cirrus are up $4.97, or 17%, at $34.81