Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) plunged on Wednesday following the chipmaker predicts lesser than predated fiscal Q4 revenue.
Cirrus reported late Tuesday that it predicts revenue for the quarter ended March 30 to be around $206.9M. Analysts, on average, predicted $209.8M, according to FactSet.
The firm as well anticipated fiscal Q1 revenue of $150M to $170M, under analysts’ forecasts of $190.9 million.
Stifel Nicolaus analyst Tore Svanberg declared that whereas he was a little surprised by the timing of the news, the declaration could really help the firm surged by resetting investor anticipations.
Shares of Cirrus Logic, Inc.(NASDAQ:CRUS) opened at $20.00 with 64.37 million outstanding shares and touch its highest price of $20.00 of the day and then finished at $18.05 by scoring -15.69%, as in the whole session stocks gain volume of 14.90 million shares which is higher than its average volume.
As the owner ship concerns stock institutional ownership remained 74.60% while insider ownership included 0.11%. The share capital of CRUS has 64.37 million outstanding shares amid them 63.76 million shares have been floated in market.
For investors focus on the performance of the stocks so the CRUS showed weekly behind performance of -18.55% which was maintained for the month at -21.39%. Correspondingly the negative performance for the quarter was remained -35.42% and if took notice on yearly performance that was 22.86% whereas the year to date performance halted at -37.69%.
As the moving toward the returns measures returns on Investment ratio is significant measure which investor should have in consideration, the CRUS return on investment was recorded as 32.91% as compare to its rivals has NVIDIA Corporation (NASDAQ:NVDA)’s ROI 11.18%, First Solar, Inc.(NASDAQ:FSLR)’s ROI -1.92%, LSI Corp(NASDAQ:LSI)’s ROI 10.87%, Linear Technology Corporation(NASDAQ:LLTC)’s ROI 23.83%.
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