Brokerages forecast that Cirrus Logic, Inc. (NASDAQ:CRUS) will post $1.13 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Cirrus Logic’s earnings, with estimates ranging from $1.04 to $1.16. Cirrus Logic reported earnings of $1.59 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 28.9%. The business is scheduled to issue its next quarterly earnings results on Monday, February 4th.
On average, analysts expect that Cirrus Logic will report full year earnings of $3.10 per share for the current financial year, with EPS estimates ranging from $2.95 to $3.20. For the next year, analysts expect that the company will report earnings of $3.22 per share, with EPS estimates ranging from $3.05 to $3.42. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that follow Cirrus Logic.
Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings data on Thursday, November 1st. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.34. The business had revenue of $366.30 million for the quarter, compared to the consensus estimate of $330.27 million. Cirrus Logic had a net margin of 7.09% and a return on equity of 15.55%. The company’s quarterly revenue was down 13.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.36 earnings per share.
Several equities analysts recently issued reports on CRUS shares. Zacks Investment Research raised shares of Cirrus Logic from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research note on Tuesday, August 7th. BidaskClub raised shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research note on Wednesday, August 29th. ValuEngine raised shares of Cirrus Logic from a “sell” rating to a “hold” rating in a research note on Tuesday, September 4th. Craig Hallum reaffirmed a “buy” rating and set a $47.00 price target (down previously from $51.00) on shares of Cirrus Logic in a research note on Friday, November 2nd. Finally, TheStreet raised shares of Cirrus Logic from a “c+” rating to a “b-” rating in a research note on Thursday, November 8th. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. Cirrus Logic presently has a consensus rating of “Hold” and an average price target of $47.48.
A number of large investors have recently bought and sold shares of the business. BlackRock Inc. raised its stake in Cirrus Logic by 7.8% during the second quarter. BlackRock Inc. now owns 8,486,370 shares of the semiconductor company’s stock worth $325,283,000 after purchasing an additional 610,960 shares during the period. Vanguard Group Inc. increased its position in shares of Cirrus Logic by 0.4% in the third quarter. Vanguard Group Inc. now owns 5,619,593 shares of the semiconductor company’s stock worth $216,916,000 after acquiring an additional 24,334 shares in the last quarter. LSV Asset Management increased its position in shares of Cirrus Logic by 1.9% in the third quarter. LSV Asset Management now owns 3,285,586 shares of the semiconductor company’s stock worth $126,823,000 after acquiring an additional 59,700 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Cirrus Logic by 1.9% in the third quarter. AQR Capital Management LLC now owns 2,766,026 shares of the semiconductor company’s stock worth $106,768,000 after acquiring an additional 52,377 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Cirrus Logic by 6.8% in the third quarter. Dimensional Fund Advisors LP now owns 2,272,031 shares of the semiconductor company’s stock worth $87,699,000 after acquiring an additional 144,179 shares in the last quarter. 90.45% of the stock is currently owned by institutional investors.
Shares of CRUS traded up $0.14 on Friday, hitting $37.44. 948,610 shares of the stock traded hands, compared to its average volume of 1,132,780. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of 10.15, a PEG ratio of 1.02 and a beta of 0.45. Cirrus Logic has a 1 year low of $34.49 and a 1 year high of $55.66.
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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