Cirrus Logic Inc. (CRUS:USA) trades well below corporate averages relative toUAFRS-based (Uniform) Earnings, with a 14.2x Uniform P/E. At these levels, the market is pricing in bearish expectations for the firm, which may be unwarranted given management’s confidence about the potential of closed-loop controllers and voice biometrics, justifying outperformance going forward

Each week the Valens Securities team highlights our most interesting insights from across our tools and our analysis, including individual company industry and macro insights

Top Highlight: Johnson & Johnson

Other Highlights: DHI, FII, TXN Other Recent Analyses: ABBV, ACN, AKS, EBAY, FB, GILD, GOOGL, IBM, LEN, MLNX, NOV, SBUX, TGE, UNH, UTX, ZAYO

Each week, Valens focuses on several companies that were analyzed in the prior week, where material distortions caused by as-reported GAAP accounting need to be corrected to understand a company’s economic fundamentals.

This week, we focus on General Mills, Inc. (GIS), Activision Blizzard, Inc. (ATVI), Euronet Worldwide, Inc. (EEFT)

Alphabet, Inc (GOOGL:USA) currently trades below corporate averages relative to UAFRS-based (Uniform) Earnings, with a 17.8x Uniform P/E, implying fairly bearish expectations for the firm. While management may have concerns about AI, YouTube, and balancing capex and investments suggesting the potential for near-term headwinds, the firm’s leadership position in its space, and lack of management concern about competitive pressures suggest longer-term upside remains warranted

This week the Valens Research team highlights our most interesting equity insight from across our tools and our analysis.

The market is concerned about rapid profitability and growth declines, while management continues to see strong execution, spelling upside potential

Texas Instruments Inc. (TXN:USA) currently trades above historical averages relative to UAFRS-based (Uniform) Earnings, with a 23.3x Uniform P/E. At these levels, markets are pricing in bullish expectations for the firm, but management may be concerned about continued decreases in gross profit, inventory management, revenue growth, and their Chinese business

Highlighted Top Ideas

AL – Air Lease Corporation
HTZ – Hertz Global Holdings, Inc.
UNT – Unit Corporation

Other Recent Analyses

CVS – CVS Health Corporation

Each week the Valens Securities team highlights our most interesting insights from across our tools and our analysis, including individual company industry and macro insights

Top Highlight: Ingersoll-Rand Plc

Other Highlights: CTXS, LRCX, NFLX Other Recent Analyses: ABBV, AES, ALV, AXTA, BAH, BBY, CCK, CCL, DOOR, FLS, KEYS, STOR, TTWO, VMC, ZBRA

currently trades below historical averages relative to UAFRS-based (Uniform) Earnings, with a 12.4x Uniform P/E. At these levels, the market has bearish expectations for the firm, but management is confident about their strategic value dividend strategy and Hermes acquisition

Facebook, Inc. (FB:USA) currently trades below historical averages relative to UAFRS-based (Uniform) Earnings, with a 14.8x Uniform P/E. At these levels, markets are pricing in extremely bearish expectations for the firm, which appears unwarranted given management’s confidence in the advertising potential of their platforms, and developments in the Watch tab

Each week, Valens focuses on several companies that were analyzed in the prior week, where material distortions caused by as-reported GAAP accounting need to be corrected to understand a company’s economic fundamentals.

This week, we focus on Dentsply Sirona, Inc. (XRAY), Amgen, Inc. (AMGN), MSCI Inc. (MSCI)

Netflix, Inc. (NFLX:USA) currently trades well above historical averages relative to UAFRS-based (Uniform) Earnings, with a 65.1x Uniform P/E, implying bullish expectations for the firm. However, management has concerns about original content investments, price increases, and third-party content agreements

This week the Valens Research team highlights our most interesting equity insight from across our tools and our analysis.

COF is set to cash in with accelerating fundamentals, strong management alignment, and a robust business strategy just as markets are overly pessimistic on the company

Lam Research Corporation (LRCX:USA) currently trades well below corporate averages relative to UAFRS-based (Uniform) Earnings, with an 11.6x Uniform P/E. At these levels, the market has bearish expectations for the firm, but while management has concerns about earnings growth, demand, and investments, potential macro tailwinds and competitive niches in flash storage suggest longer-term upside remains warrante

Highlighted Top Ideas

CAR – Avis Budget Group, Inc.
CSTM – Constellium N.V.
DOOR – Masonite International Corporation

Other Recent Analyses

HL – Hecla Mining Company

Citrix Systems, Inc. (CTXS:USA) currently trades near corporate averages relative to UAFRS-Based (Uniform) Earnings, with a 19.3x Uniform P/E. At these levels, markets are pricing in muted expectations for the firm, and while management has concerns about bookings growth, product innovation, and market headwinds, the firm’s leadership position in the space suggests this bearishness is unwarranted

Each week the Valens Securities team highlights our most interesting insights from across our tools and our analysis, including individual company industry and macro insights

Top Highlight: Ingersoll-Rand Plc

Other Highlights: BSX, WEED:CAN, WGO Other Recent Analyses: ADBE, ARMK, BR, CZR, DISH, GDDY, INCY, IRM, LHA:DEU, MTD, NBIX, NDAQ, NKE, OHI, SHOP, TWTR, VMC, YUMC

Flowserve Corporation (FLS:USA) currently trades above historical averages relative to UAFRS-based (Uniform) Earnings, with a 29.7x Uniform P/E, implying bullish expectations for the firm. However, management has concerns about gross margins, power market sales, backlog issues, and cost management

Each week, Valens focuses on several companies that were analyzed in the prior week, where material distortions caused by as-reported GAAP accounting need to be corrected to understand a company’s economic fundamentals.

This week, we focus on TEGNA, Inc. (TGNA), Echo Global Logistics, Inc. (ECHO), Kinder Morgan, Inc. (KMI)