Analysts Expect Cirrus Logic, Inc. (CRUS) Will Post Earnings of $1.13 Per Share

Brokerages expect Cirrus Logic, Inc. (NASDAQ:CRUS) to report earnings per share (EPS) of $1.13 for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Cirrus Logic’s earnings. The lowest EPS estimate is $1.04 and the highest is $1.16. Cirrus Logic reported earnings of $1.59 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 28.9%. The firm is expected to announce its next earnings results on Monday, February 4th.

On average, analysts expect that Cirrus Logic will report full year earnings of $3.11 per share for the current financial year, with EPS estimates ranging from $2.95 to $3.20. For the next fiscal year, analysts forecast that the firm will report earnings of $3.22 per share, with EPS estimates ranging from $3.05 to $3.42. Zacks’ earnings per share calculations are an average based on a survey of analysts that follow Cirrus Logic.

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

A number of equities analysts recently commented on the company. Cowen lifted their price target on Cirrus Logic from $40.00 to $44.00 and gave the stock a “market perform” rating in a report on Thursday, August 2nd. ValuEngine cut Cirrus Logic from a “hold” rating to a “sell” rating in a report on Wednesday, September 12th. BidaskClub upgraded Cirrus Logic from a “sell” rating to a “hold” rating in a report on Saturday, July 28th. Craig Hallum reiterated a “buy” rating and set a $47.00 price target (down previously from $51.00) on shares of Cirrus Logic in a report on Friday, November 2nd. Finally, Zacks Investment Research upgraded Cirrus Logic from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a report on Tuesday, August 7th. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $47.88.

In other news, Director Timothy R. Dehne sold 4,171 shares of the business’s stock in a transaction that occurred on Sunday, August 26th. The stock was sold at an average price of $44.99, for a total transaction of $187,653.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.32% of the company’s stock.

Several large investors have recently modified their holdings of the company. Bank of America Corp DE boosted its holdings in shares of Cirrus Logic by 0.6% during the second quarter. Bank of America Corp DE now owns 227,011 shares of the semiconductor company’s stock worth $8,701,000 after acquiring an additional 1,254 shares during the period. Aurora Investment Counsel boosted its holdings in shares of Cirrus Logic by 2.4% during the second quarter. Aurora Investment Counsel now owns 53,598 shares of the semiconductor company’s stock worth $2,054,000 after acquiring an additional 1,270 shares during the period. Bank of Montreal Can boosted its holdings in shares of Cirrus Logic by 88.7% during the third quarter. Bank of Montreal Can now owns 3,388 shares of the semiconductor company’s stock worth $131,000 after acquiring an additional 1,593 shares during the period. OppenheimerFunds Inc. boosted its holdings in shares of Cirrus Logic by 15.5% during the second quarter. OppenheimerFunds Inc. now owns 11,889 shares of the semiconductor company’s stock worth $456,000 after acquiring an additional 1,597 shares during the period. Finally, Meadow Creek Investment Management LLC boosted its holdings in shares of Cirrus Logic by 20.4% during the second quarter. Meadow Creek Investment Management LLC now owns 10,234 shares of the semiconductor company’s stock worth $392,000 after acquiring an additional 1,734 shares during the period. Institutional investors own 89.21% of the company’s stock.

Cirrus Logic stock traded down $1.04 during midday trading on Friday, reaching $41.37. 636,500 shares of the company’s stock were exchanged, compared to its average volume of 1,137,042. Cirrus Logic has a 52 week low of $34.49 and a 52 week high of $57.55. The stock has a market capitalization of $2.49 billion, a P/E ratio of 11.21, a PEG ratio of 1.08 and a beta of 0.45.

Cirrus Logic Company Profile

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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