Analysts Issue Forecasts for Cirrus Logic, Inc.’s Q3 2019 Earnings (CRUS)

Cirrus Logic, Inc. (NASDAQ:CRUS) – Equities researchers at Dougherty & Co issued their Q3 2019 EPS estimates for Cirrus Logic in a research note issued to investors on Monday, November 5th. Dougherty & Co analyst C. Anderson forecasts that the semiconductor company will post earnings per share of $0.98 for the quarter. Dougherty & Co also issued estimates for Cirrus Logic’s FY2019 earnings at $2.47 EPS.

Cirrus Logic (NASDAQ:CRUS) last posted its earnings results on Thursday, November 1st. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.34. Cirrus Logic had a net margin of 7.09% and a return on equity of 15.55%. The business had revenue of $366.30 million for the quarter, compared to analysts’ expectations of $330.27 million. During the same period in the prior year, the company posted $1.36 EPS. The business’s revenue for the quarter was down 13.9% compared to the same quarter last year.

Several other analysts have also recently issued reports on CRUS. ValuEngine upgraded shares of Cirrus Logic from a “sell” rating to a “hold” rating in a research note on Thursday, November 1st. Craig Hallum reissued a “buy” rating and issued a $47.00 price target (down previously from $51.00) on shares of Cirrus Logic in a report on Friday, November 2nd. BidaskClub raised shares of Cirrus Logic from a “sell” rating to a “hold” rating in a report on Saturday, July 28th. Susquehanna Bancshares increased their price target on shares of Cirrus Logic from $45.00 to $59.00 and gave the stock a “positive” rating in a report on Thursday, August 2nd. Finally, Cowen increased their price target on shares of Cirrus Logic from $40.00 to $44.00 and gave the stock a “market perform” rating in a report on Thursday, August 2nd. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $47.88.

NASDAQ CRUS opened at $42.41 on Wednesday. Cirrus Logic has a 1 year low of $34.49 and a 1 year high of $57.62. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 1.08 and a beta of 0.45.

In other news, Director Timothy R. Dehne sold 4,171 shares of the stock in a transaction on Sunday, August 26th. The shares were sold at an average price of $44.99, for a total value of $187,653.29. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.32% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in CRUS. grace capital bought a new position in shares of Cirrus Logic during the 2nd quarter valued at $115,000. Bank of Montreal Can grew its holdings in shares of Cirrus Logic by 88.7% during the 3rd quarter. Bank of Montreal Can now owns 3,388 shares of the semiconductor company’s stock valued at $131,000 after purchasing an additional 1,593 shares during the last quarter. First Hawaiian Bank bought a new position in shares of Cirrus Logic during the 3rd quarter valued at $140,000. Itau Unibanco Holding S.A. boosted its position in Cirrus Logic by 91.8% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 3,723 shares of the semiconductor company’s stock valued at $143,000 after buying an additional 1,782 shares during the period. Finally, Fox Run Management L.L.C. purchased a new stake in Cirrus Logic during the 2nd quarter valued at $216,000. 89.21% of the stock is currently owned by institutional investors.

About Cirrus Logic

Cirrus Logic, Inc, a fabless semiconductor company, develops, manufactures, and markets analog and mixed-signal integrated circuits (ICs) for a range of consumer and industrial markets. The company offers portable and non-portable audio, and other products. Its products include analog and mixed-signal audio converters, and digital signal processing products for mobile applications; codecs-chips that integrate analog-to-digital converters and digital-to-analog converters into a single IC; smart codecs, a codec with digital signal processer; boosted amplifiers; micro-electromechanical systems microphones; digital interface products; and standalone digital signal processors.

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