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April 29, 2014
05:58 EDTCRUSCirrus Logic agrees to acquire Wolfson Microelectronics for $467M
Cirrus Logic and Wolfson Microelectronics announced the terms of a recommended transaction under which Cirrus Logic would acquire Wolfson at a price of GBP 2.35 per share in cash, implying an enterprise value of GBP 278M, or approximately $467M. The transaction, if approved, is expected to strengthen Cirrus Logicís ability to expand its customer base with highly differentiated, end-to-end audio solutions for portable audio applications. The transaction will be financed by a combination of existing cash on Cirrus Logicís balance sheet and $225M in debt funding. The acquisition is expected to be completed in the second half of 2014. Cirrus Logic expects the acquisition to be accretive to non-GAAP earnings per share in the first full quarter after the transaction closes.
News For CRUS From The Last 14 Days
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January 29, 2015
10:00 EDTCRUSOn The Fly: Analyst Upgrade Summary
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09:09 EDTCRUSCirrus Logic upgraded to Buy from Neutral at Sidoti
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January 28, 2015
18:21 EDTCRUSOn The Fly: After Hours Movers
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16:04 EDTCRUSCirrus Logic sees Q4 revenue $220M-$240M, consensus $198.82M
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16:02 EDTCRUSCirrus Logic reports Q3 adjusted EPS 97c, consensus 75c
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15:11 EDTCRUSCirrus Logic January weekly 27.5 straddle priced for 9.8% movement into Q3
10:13 EDTCRUSAnalysts upbeat on Apple after iPhone powers big earnings beat
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09:05 EDTCRUSCirrus Logic volatility elevated into Q3 and outlook
Cirrus Logic January weekly call option implied volatility is at 122, February is at 55, June is at 45; compared to its 26-week average of 38 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on January 28.
January 27, 2015
18:20 EDTCRUSOn The Fly: After Hours Movers
UP AFTER EARNINGS: ABIOMED (ABMD), up 27%... Yahoo (YHOO), up 7.2% after reporting fourth quarter results and that it is planning a tax-free spin-off of remaining Alibaba (BABA) stake... Freescale Semiconductor (FSL), up 10%... Marten Transport (MRTN), up 6%... U.S. Steel (X), up 9.2%... Key Tronic (KTCC), up 4%... Juniper Networks (JNPR), up 4.4%... Western Digital (WDC), consensus 2.6%... Electronic Arts (EA), up 4.8%... VMware (VMW), up 1.7%... AT&T (T), up 1.9%... Apple (AAPL), up 5.1%. ALSO HIGHER: Cirrus Logic (CRUS), up 2.9%, Skyworks (SWKS), up 1.3%, NXP Semiconductors (NXPI), up 1.5%, and Qorvo (QRVO), up 1% following Apple's first quarter results... EMC (EMC), up 2.1% following VMware's fourth quarter results... Alibaba (BABA), up marginally following Yahoo results and tax-free spin-off plans... DOWN AFTER EARNINGS: Ethan Allen (ETH), down 13.1%... EZCORP (EZPW), down 7.1%... International Game Technology (IGT), down 2.9%... Open Text (OTEX), down 4.4%. ALSO LOWER: Synergy Resources (SYRG), down 3.7% after filing to sell $150M of common stock.
17:18 EDTCRUSApple suppliers higher after company beats estimates
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January 26, 2015
13:46 EDTCRUSCirrus Logic volatility increases into Q3 and outlook
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10:19 EDTCRUSSamsung Galaxy S6 supply chain update at OTR Global
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January 23, 2015
10:02 EDTCRUSOn the Fly: Analyst Initiation Summary
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09:19 EDTCRUSCirrus Logic initiated with a Buy at Rosenblatt
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