This opportunity below $30 will not last too long. The manipulation that has sent down so many stocks with solid futures like CRUS is an opportunity to drop the share count and increase EPS even faster moving forward.
The last quarter they repurchased shares was last Oct-Dec: In the December quarter we utilized
approximately $10.5 million to repurchase 579,633 shares of common stock at an average
price of $18.17. As of December 27, 2014, we have roughly $51.7 million remaining in our
share buyback program and we expect to continue to evaluate opportunities to repurchase
shares from time to time.
This quarter they need to get more aggressive. If growth is what Jason expects, shares in the $20's is a great use of cash for shareholders before they zoom to the 40's and 50's in the next 52 weeks.
" Since announcing our $200 million share repurchase program in
November 2012, we have reduced our diluted shares outstanding by roughly 6.2 million
shares. As of June 27, 2015, we had roughly $51.7 million remaining in our share buyback
program, and we expect to continue to evaluate opportunities to repurchase shares from
time to time. "
$51.7MM would result in less than 2 million shares at this price. They are paying off $20MM in debt per quarter which really does not make much sense with the cost of debt being so low for them at this point.
An additional $200MM buyback plan should be announced to give CRUS the authority to take advantage of these periods.
Now closer to the 52 week low. Picked up a bargain with DIS this AM. Do we get CRUS at $25?
About 1.3-1.4x this year's revenue.
10.76x this year's earnings.
Market cap of 1.78 billion includes both Cirrus Logic and Wolfson IP.
This is just silly. Irrational selling. Hopefully Cirrus is buying back stock hand over fist.
I think so too, Fiber. Paying off $20MM of debt every quarter will not get you the same return as the shares here.
I hope Jason realizes that spending $20MM per year gets less of a return as buying shares back in the $20's with such growth coming in the future. Use cash to buy back stock here as they have $80MM left on their buyback plan.
Glad Piper has some balls to reiterate a call when the stock falls instead of staying silent like the rest of the anals.
Does anyone else remember the last time Jason was on with Cramer? They almost fought on air. Jason couldn't really hear Cramer. Cramer started to go off and basically said it was his worst interview ever. CRUS fell like 5-10% the next day. It was awful. Cramer has been denigrating CRUS ever since.
repurchased at these levels.
Market cap is below $1.9 billion. We're getting closer to 1x sales and less than 10x earnings. If Jason is confident with substantial growth coming in the next two fiscal years, then the stock price is very cheap and they will generate enough cash to meet their needs. I'm hoping in the next earnings call that we see the stock buyback has been almost exhausted with shares being bought below $30.
Thanks Mk. So we are looking at a major increase next year......Looking at this business when taking out amortization and depreciation, the EBIDTA is out of this world.
What is the likely added BLM for CRUS in the next iphone? What is that numbe compared to what we have now?
"Sales of Apple's flagship product are likely to drop up to 8 percent next year, said Andy Hargreaves and Evan Wingren of technology investment research firm Pacific Crest Securities"
That was my worry several months ago...
And combined with China, this is why we languish where we currently are.
However, the street seems to be forgetting CRUS's diversification and more importantly, added content in the upcoming iphone. Even with flat Iphone sales, we will see major revenue growth.
At this price, it's crazy that TXN, NXPI, SWKS, or someone else doesn't go hard after CRUS or even hostile at this point. You get CRUS and Wolfson with Wolfson for free right now.