This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

These Two Circuit Makers are Sinking Today

NEW YORK (TheStreet) -- Tech parts makers InvenSense Inc (INVN - Get Report) and Cirrus Logic (CRUS - Get Report) have tumbled in morning trading after reporting earnings the evening before. Semiconductor company Micron Technology (MU - Get Report) was immune to the big losses seen by its competitors.

InvenSense Inc

Though second-quarter earnings beat expectations, a sluggish forecast for the third quarter disappointed the company's investors. Shares dropped 12.1% to $16.36 in morning trading.

InvenSense management said they expect earnings between 16 cents and 18 cents a share for the third quarter, on revenue in the range of $65 million to $68 million. Analysts surveyed by Thomson Reuters had anticipated 22 cents a share on $76.63 million in revenue.

Must Read: Exar Is Now Oversold (EXAR)

For the second quarter, the San Jose, Calif.-based company reported earnings of 21 cents a share on 28.2% higher year-over-year revenue of $70.9 million.

Topeka Capital Markets restated its "buy" rating and raised its price target to $22 from $20, citing a "continued healthy position in the smartphone/tablet space boosted by seasonal gaming strength".The investment firm believes continued growth in demand for motion sensor and image stabilization technologies will benefit the business over the long term.

TheStreet Ratings team rates InvenSense INC as a Hold with a ratings score of C. The team has this to say about their recommendation:

"We rate InvenSense INC (INVN) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, notable return on equity and impressive record of earnings per share growth. However, as a counter to these strengths, we find that the stock itself is trading at a premium valuation."

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
CRUS $35.84 -1.32%
INVN $7.61 -2.69%
MU $10.36 -2.45%
AAPL $95.18 1.64%
FB $117.43 -0.96%


Chart of I:DJI
DOW 17,750.91 -140.25 -0.78%
S&P 500 2,063.37 -18.06 -0.87%
NASDAQ 4,763.2240 -54.37 -1.13%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs