|Bid||0.00 x 800|
|Ask||70.10 x 900|
|Day's Range||63.61 - 65.61|
|52 Week Range||47.04 - 91.63|
|Beta (5Y Monthly)||0.98|
|PE Ratio (TTM)||22.34|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Chipmaker Inphi on Tuesday smashed Wall Street's targets for the second quarter and guided higher for the third quarter. The earnings news pushed IPHI stock to a record high early.
Increased component shipments and higher content in tablets and the recently-launched low-cost smartphones drive Cirrus Logic's (CRUS) Q1 revenues and earnings.
Shares of Cirrus Logic fell 3.1% in extended market trading on Monday as the company expects 2Q sales to be lower than analysts' estimates. While 2Q revenue guidance was disappointing, its 1Q earnings crushed analysts' estimates.Cirrus Logic's (CRUS) adjusted EPS jumped 51.4% to $0.53 year-on-year exceeding analysts’ estimates of $0.30. Moreover, revenues grew 1.8% to $242.6 million year-over-year and surpassed Street estimates of $225.6 million.The audio chip-maker anticipates 2Q revenues between $290 million and $330 million, which is lower than the Street estimate of $315 million at mid-point. Moreover, Cirrus Logic anticipates a decline in the average selling price across some products during the quarter.On June 22, Barclays analyst Blayne Curtis downgraded Cirrus Logic to Sell from Hold and lowered the price target to $60 (19.5% downside potential) down from $75. Curtis said he sees "downside to estimates given the likely loss of in-box earbuds this year and loss of its smart codec at Samsung."Overall, CRUS analysts have a cautiously optimistic Moderate Buy consensus on the stock. The average price target of $77.67 implies upside potential of 4.3%. (See CRUS stock analysis on TipRanks).Related News: Church & Dwight Jumps 7% on 2Q Earnings; Analyst Sees More Upside Ahead Molson Coors Delivers Q2 Earnings Beat Despite Covid-19 Fallout Newell Brands Drops 7% On Dim Outlook More recent articles from Smarter Analyst: * Abiomed’s Impella Scores Emergency FDA Nod For Covid-19 Patients * Merck, Hanmi Seal Licence Deal For Fatty Liver Disease Therapy * TikTok Parent ByteDance Accuses Facebook Of ‘Plagiarism And Smear’ * McKesson Beats 2Q Estimates, UBS Lifts PT