Cirrus Logic (CRUS) to Release Earnings on Tuesday

Cirrus Logic (NASDAQ:CRUS) will be announcing 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 registering for the company’s earnings conference call can do so using this link.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $2.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.83. The firm had revenue of $618.98 million for the quarter, compared to the consensus estimate of $539.55 million. Cirrus Logic had a net margin of 9.84% and a return on equity of 16.13%. 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 Up 2.0 %

CRUS stock opened at $90.30 on Tuesday. The stock has a market capitalization of $4.87 billion, a PE ratio of 28.67 and a beta of 1.00. Cirrus Logic has a 52 week low of $65.02 and a 52 week high of $95.87. The firm has a 50 day moving average of $90.01 and a 200 day moving average of $82.40.

Insider Buying and Selling

In related news, VP Andrew Brannan sold 3,250 shares of Cirrus Logic stock in a transaction that occurred 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 transaction, the vice president now owns 6,055 shares in the company, valued at $569,170. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CFO Venkatesh Nathamuni sold 1,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. Following the sale, the chief financial officer now directly owns 1,587 shares in the company, valued at approximately $150,765. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Andrew Brannan sold 3,250 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $94.00, for a total transaction of $305,500.00. Following the transaction, the vice president now directly owns 6,055 shares of the company’s stock, valued at approximately $569,170. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,530 shares of company stock worth $700,292. 0.89% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CRUS. Susquehanna boosted their price objective on shares of Cirrus Logic from $85.00 to $100.00 and gave the company a “positive” rating in a report on Wednesday, February 7th. StockNews.com lowered Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 20th. Barclays lifted their target price on Cirrus Logic from $90.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, January 16th. TheStreet upgraded shares of Cirrus Logic from a “c+” rating to a “b-” rating in a report on Tuesday, January 23rd. Finally, Stifel Nicolaus lifted their price objective on shares of Cirrus Logic from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average 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.