Cirrus Logic, Inc. (NASDAQ:CRUS) Expected to Post Earnings of $0.15 Per Share

Analysts expect Cirrus Logic, Inc. (NASDAQ:CRUS) to announce earnings of $0.15 per share for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Cirrus Logic’s earnings, with the highest EPS estimate coming in at $0.17 and the lowest estimate coming in at $0.14. Cirrus Logic posted earnings of $0.28 per share during the same quarter last year, which would suggest a negative year over year growth rate of 46.4%. The business is expected to issue its next quarterly earnings results on Wednesday, August 7th.

On average, analysts expect that Cirrus Logic will report full-year earnings of $2.24 per share for the current year, with EPS estimates ranging from $1.84 to $2.71. For the next fiscal year, analysts expect that the firm will report earnings of $2.51 per share, with EPS estimates ranging from $2.03 to $3.07. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Cirrus Logic.

Cirrus Logic (NASDAQ:CRUS) last released its earnings results on Wednesday, May 1st. The semiconductor company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.04. The company had revenue of $240.44 million during the quarter, compared to analyst estimates of $219.67 million. Cirrus Logic had a return on equity of 10.65% and a net margin of 7.59%. Cirrus Logic’s quarterly revenue was down 20.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.51 earnings per share.

CRUS has been the subject of several recent analyst reports. BidaskClub lowered Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Tuesday, May 14th. ValuEngine raised Cirrus Logic from a “hold” rating to a “buy” rating in a report on Friday, March 15th. MKM Partners upped their target price on Cirrus Logic to $55.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Zacks Investment Research raised Cirrus Logic from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 2nd. Finally, Cowen reaffirmed a “market perform” rating and issued a $48.00 target price (up from $38.00) on shares of Cirrus Logic in a report on Thursday, May 2nd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Cirrus Logic currently has an average rating of “Hold” and a consensus price target of $45.00.

In other Cirrus Logic news, SVP Scott Thomas sold 6,153 shares of the stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $45.00, for a total transaction of $276,885.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David J. Tupman sold 1,541 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $49.43, for a total value of $76,171.63. The disclosure for this sale can be found here. 2.79% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in CRUS. Investors Research Corp bought a new position in shares of Cirrus Logic in the first quarter worth $25,000. Quadrant Capital Group LLC boosted its holdings in shares of Cirrus Logic by 596.7% in the first quarter. Quadrant Capital Group LLC now owns 641 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 549 shares during the period. Pearl River Capital LLC bought a new position in shares of Cirrus Logic in the fourth quarter worth $32,000. Advisor Group Inc. boosted its holdings in shares of Cirrus Logic by 71.8% in the fourth quarter. Advisor Group Inc. now owns 2,166 shares of the semiconductor company’s stock worth $71,000 after acquiring an additional 905 shares during the period. Finally, Strs Ohio boosted its holdings in shares of Cirrus Logic by 316.7% in the fourth quarter. Strs Ohio now owns 2,500 shares of the semiconductor company’s stock worth $82,000 after acquiring an additional 1,900 shares during the period. 84.62% of the stock is owned by institutional investors and hedge funds.

CRUS stock opened at $41.26 on Wednesday. The company has a market capitalization of $2.44 billion, a PE ratio of 21.27, a price-to-earnings-growth ratio of 1.89 and a beta of 0.85. Cirrus Logic has a 12-month low of $31.25 and a 12-month high of $50.12.

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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