As of last quarter they had 2.82 a share.
Take that off the share price and that's 14.86 a share for a 4.6 trailing pe and 3.75 forward pe.
For a company that had 427m last year, 800m this year, and over 1billion next year.
Operates at a 51 percent margin.
Has .27 PEG.
Has zero debt.
I guess it really doesnt add up at all.
Sentiment: Strong Buy
The fundamentals on CRUS is great, but It's just that AAPL is the most hated stock on the street and its been bring us down with no bottom in sight. AAPL has blown through all support levels. On 1/09/12 we gap up from 16.99 to 18.69 and if we close below $17 this week I have no idea how much lower we can go. I sold half of my position at 25.35 and then sold all of it at 22.75. I want to get back in, I just need to see how we close this week. We traded almost 20MM shares in two days with a 18% drop. Also the market is currently in a short-term down trend.
Same time last year ---- leading into conf call after market closed April 25th 2012.
Date Open High Low Close Volume Adj Close*
Apr 30, 2012 27.76 27.94 27.29 27.38 2,779,300 27.38
Apr 27, 2012 27.46 28.25 27.00 27.87 4,877,200 27.87
Apr 26, 2012 25.01 27.49 24.75 27.39 15,089,500 27.39
Apr 25, 2012 22.49 23.30 22.30 23.09 6,590,300 23.09
Apr 24, 2012 20.87 21.32 20.60 20.80 3,150,800 20.80
Apr 23, 2012 20.87 21.24 20.28 21.15 2,774,300 21.15
Apr 20, 2012 23.53 23.53 20.97 21.07 6,625,400 21.07
Apr 19, 2012 23.81 23.90 22.90 22.96 2,302,600 22.96
We expect revenue to grow substantially in FY '13 as new audio and energy products hit full production later this year," said Jason Rhode, president and chief executive officer. "Our product development team has done an excellent job developing innovative new components and our supply chain team now has the task of supporting what we expect to be a significant ramp of a wide range of products. Combined with our strong balance sheet, the new credit facility gives us additional flexibility as we transition to a significantly higher run rate for our business. We are very excited about our outlook for FY '13."
Reported Financial Results
Fourth Quarter FY2012
Revenue of $110.6 million
Gross margin of 56 percent
GAAP operating expenses of $41.5 million
Non-GAAP operating expenses of $37.5 million
While the company expects to grow revenue substantially during FY '13, year-over-year revenue in Q1 is currently forecasted to grow approximately 10 percent. Due to the timing of various product introductions later this year, the company expects to transition to a sharply higher level of revenue beginning in the September quarter. In connection with this transition, the company also announced that it has entered into an unsecured, one-year $100 million revolving credit agreement that provides access to additional working capital the company may need in order to support the production ramps of multiple new products this fall. WellsFargo
Sentiment: Strong Buy
If Crus goes down a few more dollars they could simply close their doors and never do business again and be worth more then the share price.
So yes a bottom is at hand as if its not then private equity or the company itself will take it private.
We arent far off from being at a valuation that is worth less then the wall paintings they have in the office.
Minus cash on hand the market cap is less then the revenue they will bring in this year.
Is there really that much money in Audio Codec's that Cirrus sells to Apple? I tore apart an IPhone 4S and it is the 338S0589 chip and in the IPhone 5 it is the 338S1077 chip. But it is still only a single piece of silicon. The new Blackberry Z10 uses a Qualcom WCD9310 for the audio codec. Bottom line is that CRUS needs a much more diverse customer base and more types of applications for different types of silicon. Good Lord. Both Apple Iphones are loaded with multiple chips from Triquint and Skyworks.