- ASP pressure from Apple will lead Cirrus Logic's (CRUS -4.4%) revenue and EPS to keep declining in FY15 (ends March '15), predicts Feltl's Jeffrey Schreiner, downgrading shares to Hold.
- He thinks 7% FY16 revenue growth is possible on the back of new product sales (including products sold to Apple), but expects EPS to remain pressured by the exhaustion of deferred tax assets.
- Schreiner sees a lack of new iPhone chip content, along with diminished iPad content (previous), leading to a ~15% FY15 ASP drop with Apple. Cirrus is already expected by the sell-side to see a 4.8% FY15 revenue drop, following a 12.6% drop in FY14.
- After backing out cash/investments, shares go for just 5x FY13 EPS, and 8x FY15E EPS. FQ4 results are due on April 24.
Are you Bullish or Bearish on ?
Results for ()
Thanks for sharing your thoughts.
From other sites
at Zacks.com (Fri, 8:58AM)
at MarketWatch.com (Feb 11, 2015)
at Nasdaq.com (Jan 28, 2015)
at Investor's Business Daily (Jan 5, 2015)
at CNBC.com (Dec 15, 2014)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs