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Four of the biggest
Integrated Device
Cavium Inc
- Cavium Inc CAVM will report its third-quarter results Wednesday.
- Cavium is expected to report "solid" near-term results and guidance.
- Similar to Integrated Device, Cavium's quarter was favorable from stabilizing Chinese wireless infrastructure demand trends but also from QLogic and new product ramps.
- The ramp of LiquidSecurity will likely be incremental to the financials.
- Yinh maintains an Overweight rating on Cavium's stock with an unchanged $80 price target (23x 2018 estimated EPS of $3.51).
Qorvo
Cirrus Logic
- Cirrus Logic, Inc. CRUS is scheduled to report its third-quarter results Thursday.
- Cirrus is expected to report "solid" results and in-line guidance despite iPhone X related supply constraints.
- Apple will likely be looking to build a component inventory if it resolves any ongoing supply constraints.
- But until iPhone X demand catches up with demand there is likely to be limited near-term catalysts for not only Cirrus Logic but the entire Apple supply chain.
- Yinh maintains an Overweight rating on Cirrus Logic's stock with an unchanged $70 price target (14x estimated 2019 EPS of $4.93).
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Posted In: Analyst ColorEarningsLong IdeasNewsGuidancePreviewsReiterationAnalyst RatingsTechTrading IdeasiPhoneiPhone Supply ConstraintsiPhone XJohn YinhKeyBancsemiconductor
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