Wall Street analysts expect Cirrus Logic, Inc. (NASDAQ:CRUS) to post sales of $345.60 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Cirrus Logic’s earnings, with the lowest sales estimate coming in at $345.00 million and the highest estimate coming in at $346.79 million. Cirrus Logic reported sales of $324.30 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 6.6%. The firm is scheduled to issue its next earnings report on Wednesday, January 29th.
According to Zacks, analysts expect that Cirrus Logic will report full-year sales of $1.21 billion for the current year, with estimates ranging from $1.20 billion to $1.22 billion. For the next year, analysts forecast that the business will post sales of $1.25 billion, with estimates ranging from $1.15 billion to $1.30 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover Cirrus Logic.
Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.61. Cirrus Logic had a net margin of 9.81% and a return on equity of 13.04%. The firm had revenue of $389.00 million during the quarter, compared to the consensus estimate of $320.37 million. During the same period in the previous year, the firm posted $1.08 earnings per share. The business’s revenue was up 6.2% compared to the same quarter last year.
Shares of NASDAQ:CRUS traded up $2.38 during midday trading on Tuesday, hitting $71.13. 627,200 shares of the company’s stock were exchanged, compared to its average volume of 709,642. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.38 and a quick ratio of 2.63. The stock has a 50 day moving average price of $57.78 and a 200-day moving average price of $49.85. The company has a market cap of $4.06 billion, a PE ratio of 34.70, a price-to-earnings-growth ratio of 1.72 and a beta of 0.91. Cirrus Logic has a 12 month low of $31.25 and a 12 month high of $72.52.
In other Cirrus Logic news, VP Scott Arnold Anderson sold 19,818 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $54.78, for a total value of $1,085,630.04. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Thurman K. Case sold 5,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $52.34, for a total transaction of $261,700.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 153,665 shares of company stock worth $8,065,413. Corporate insiders own 2.79% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. Cardinal Capital Management lifted its stake in shares of Cirrus Logic by 1.6% during the 3rd quarter. Cardinal Capital Management now owns 13,019 shares of the semiconductor company’s stock valued at $697,000 after buying an additional 202 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in shares of Cirrus Logic during the 2nd quarter valued at approximately $33,000. Patriot Financial Group Insurance Agency LLC lifted its stake in shares of Cirrus Logic by 160.0% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,300 shares of the semiconductor company’s stock valued at $70,000 after buying an additional 800 shares in the last quarter. BRYN MAWR TRUST Co lifted its stake in shares of Cirrus Logic by 0.7% during the 2nd quarter. BRYN MAWR TRUST Co now owns 121,512 shares of the semiconductor company’s stock valued at $5,311,000 after buying an additional 847 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Cirrus Logic during the 2nd quarter valued at approximately $44,000. Institutional investors own 85.86% of the company’s stock.
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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