Back to top

The Zacks Analyst Blog Highlights: Cirrus Logic

Read MoreHide Full Article

For Immediate Release

Chicago, IL – February 6, 2018 – announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Cirrus Logic (CRUS - Free Report) .

Here are highlights from Monday’s Analyst Blog:

Cirrus Logic Crashes on Earnings Miss, Weak Guidance

Shares of Cirrus Logic crashed more than 10% in after-hours trading Monday—adding to its 4% loss in regular trading hours—after the company posted softer-than-expected earnings results and weak guidance for the current quarter.

Cirrus Logic produces high performance, low-power ICs for audio and voice signal processing applications. The company’s solutions span the entire audio signal chain, from capture to playback, providing products for the world's smartphones, tablets, digital headsets, wearables, and emerging smart-home applications.

For the fiscal third quarter, Cirrus reported adjusted earnings of $1.59 per share, missing the Zacks Consensus Estimate of $1.77. Total revenues came in at $482.7 million, down from $523 million in the year-ago period and significantly below our consensus estimate of $531.8 million.

“Unanticipated weakness in smartphone demand that materialized in late December drove our Q3 results below expectations and further impacted our Q4 guidance,” said Cirrus CEO Jason Rhode.

For the fourth quarter, the company now expects revenue to fall in the range of $300 million to $340 million. This is well under our current consensus estimate, which is calling for total revenues of $370.4 million.

Cirrus shares closed at $46.75 on Monday, down about 4% from Friday’s close. The stock tumbled nearly 11% to touch $40.00 per share in after-hours trading.

Want more analysis from this author? Make sure to follow @Ryan_McQueeney on Twitter!

Today's Stocks from Zacks' Hottest Strategies

It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.

And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.

See Them Free>>

Join us on Facebook:

Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.

Media Contact

Zacks Investment Research

800-767-3771 ext. 9339

Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit information about the performance numbers displayed in this press release.

In-Depth Zacks Research for the Tickers Above

Normally $25 each - click below to receive one report FREE:

Cirrus Logic, Inc. (CRUS) - free report >>

More from Zacks Press Releases

You May Like