This tech company posted EPS of $0.44 last quarter, handily beating analysts’ estimates of $0.28 per share. Nine analysts have raised their forecasts for the company in the past 30 days.
Cirrus Logic (CRUS)
From Nate’s Notes
Cirrus Logic (CRUS) has also joined the parade of stocks that have gapped up and are still heading higher following its most recent earnings report, and though the stock is more than due for some profit-taking, it is hard to call the chart anything but bullish-looking.
For its first quarter, Cirrus reported revenues of $259.4 million and net income of $15.9 million, or $0.24 per share, as compared to revenues of $282.6 million and net income of $33.4 million, or $0.50 per share, the same period a year ago.
In response to the price action in the stock and the outlook from the company, I am raising the buy limits and adding a few more shares to both Portfolios again this month.
CRUS is a strong buy under $48 and a buy under $55.
Nate Pile, Nate’s Notes, www.NotWallStreet.com, 707-433- 7903, August 12, 2016