Cirrus Logic (CRUS) to Release Earnings on Tuesday

Cirrus Logic (NASDAQ:CRUS) will announce its earnings results after the market closes on Tuesday, May 7th. Analysts expect the company to announce earnings of $0.67 per share for the quarter. Cirrus Logic has set its Q4 2024 guidance at EPS.Individual interested in listening to the company’s earnings conference call can do so using this link.

Cirrus Logic (NASDAQ:CRUS) last announced its earnings results on Tuesday, February 6th. The semiconductor company reported $2.53 EPS for the quarter, beating the consensus estimate of $1.70 by $0.83. The business had revenue of $618.98 million for the quarter, compared to analysts’ expectations of $539.55 million. Cirrus Logic had a return on equity of 16.13% and a net margin of 9.84%. On average, analysts expect Cirrus Logic to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Cirrus Logic Stock Performance

Shares of NASDAQ CRUS opened at $88.48 on Friday. The company’s 50 day moving average price is $89.67 and its 200-day moving average price is $82.76. Cirrus Logic has a 52-week low of $65.02 and a 52-week high of $95.87. The company has a market capitalization of $4.77 billion, a P/E ratio of 28.09 and a beta of 0.99.

Insider Activity

In related news, SVP Justin E. Dougherty sold 3,280 shares of Cirrus Logic stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $91.40, for a total value of $299,792.00. Following the completion of the sale, the senior vice president now owns 6,000 shares of the company’s stock, valued at approximately $548,400. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, VP Andrew Brannan sold 3,250 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $94.00, for a total transaction of $305,500.00. Following the completion of the sale, the vice president now owns 6,055 shares in the company, valued at $569,170. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Justin E. Dougherty sold 3,280 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $91.40, for a total value of $299,792.00. Following the transaction, the senior vice president now owns 6,000 shares in the company, valued at $548,400. The disclosure for this sale can be found here. Insiders sold a total of 7,530 shares of company stock worth $700,292 over the last quarter. 0.89% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CRUS. Barclays upped their price target on shares of Cirrus Logic from $90.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, January 16th. Stifel Nicolaus lifted their target price on Cirrus Logic from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Susquehanna boosted their price target on Cirrus Logic from $85.00 to $100.00 and gave the company a “positive” rating in a research note on Wednesday, February 7th. TD Cowen raised their price objective on shares of Cirrus Logic from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Finally, StockNews.com downgraded shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 20th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, Cirrus Logic currently has a consensus rating of “Buy” and an average price target of $96.43.

About Cirrus Logic

Cirrus Logic, Inc, a fabless semiconductor company, develops low-power, high-precision mixed-signal processing solutions in China, the United States, and internationally. The company offers audio products, including codecs components that integrate analog-to-digital converters (ADCs) and digital-to-analog converters (DACs) into a single integrated circuit (IC); smart codecs, a codec with digital signal processing; boosted amplifiers; standalone digital signal processors; and SoundClear technology, which consists of a portfolio of tools, software, and algorithms that helps to enhance user experience with features, such as louder, high-fidelity sound, audio playback, voice capture, and hearing augmentation.