Brokerages expect Cirrus Logic, Inc. (NASDAQ:CRUS – Get Rating) to post $420.40 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Cirrus Logic’s earnings. The highest sales estimate is $421.21 million and the lowest is $420.00 million. Cirrus Logic reported sales of $293.54 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 43.2%. The business is scheduled to issue its next quarterly earnings report after the market closes on Monday, January 1st.
According to Zacks, analysts expect that Cirrus Logic will report full-year sales of $1.71 billion for the current financial year. For the next fiscal year, analysts expect that the business will post sales of $1.78 billion, with estimates ranging from $1.73 billion to $1.86 billion. Zacks’ sales calculations are an average based on a survey of research analysts that cover Cirrus Logic.
Cirrus Logic (NASDAQ:CRUS – Get Rating) last posted its quarterly earnings results on Monday, January 31st. The semiconductor company reported $2.28 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.36. Cirrus Logic had a net margin of 16.10% and a return on equity of 19.14%. The firm had revenue of $548.35 million during the quarter, compared to the consensus estimate of $511.13 million. During the same period in the previous year, the firm posted $1.94 earnings per share.
NASDAQ:CRUS opened at $76.88 on Monday. The firm has a 50-day moving average of $82.57 and a 200-day moving average of $84.00. The company has a market cap of $4.40 billion, a PE ratio of 17.88, a PEG ratio of 1.53 and a beta of 0.88. Cirrus Logic has a one year low of $71.11 and a one year high of $95.84.
In other Cirrus Logic news, VP Carl Jackson Alberty sold 3,726 shares of the business’s stock in a transaction dated Friday, February 18th. The shares were sold at an average price of $85.74, for a total value of $319,467.24. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Allan Hughes sold 36,112 shares of the company’s stock in a transaction that occurred on Wednesday, February 9th. The shares were sold at an average price of $85.00, for a total transaction of $3,069,520.00. The disclosure for this sale can be found here. 1.83% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. lifted its stake in shares of Cirrus Logic by 678.4% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 397 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 346 shares in the last quarter. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Cirrus Logic during the 4th quarter valued at approximately $44,000. Covestor Ltd bought a new stake in Cirrus Logic during the 4th quarter worth approximately $59,000. JJJ Advisors Inc. increased its holdings in Cirrus Logic by 40.4% during the 4th quarter. JJJ Advisors Inc. now owns 873 shares of the semiconductor company’s stock worth $80,000 after acquiring an additional 251 shares during the period. Finally, Van ECK Associates Corp increased its holdings in Cirrus Logic by 59.2% during the 3rd quarter. Van ECK Associates Corp now owns 1,159 shares of the semiconductor company’s stock worth $95,000 after acquiring an additional 431 shares during the period. Institutional investors own 87.81% of the company’s stock.
About Cirrus Logic (Get Rating)
Cirrus Logic, Inc, a fabless semiconductor company, provides low-power, high-precision mixed-signal processing solutions in the United States and internationally. It offers portable products, including codecs-chips that integrate analog-to-digital converters (ADCs) and digital-to-analog converters (DACs) into a single IC; smart codecs, a codec with digital signal processer; boosted amplifiers; micro-electromechanical systems microphones; haptic drivers; digital signal processors; and SoundClear technology, which consists of a portfolio of tools, software, and algorithms that offer enhanced voice quality, voice capture, and audio playback features.
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