Wall Street analysts expect Cirrus Logic, Inc. (NASDAQ:CRUS) to post $1.76 earnings per share for the current quarter, according to Zacks. Four analysts have made estimates for Cirrus Logic’s earnings. The highest EPS estimate is $1.78 and the lowest is $1.68. Cirrus Logic posted earnings of $1.87 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 5.9%. The firm is scheduled to issue its next earnings report on Wednesday, February 7th.
According to Zacks, analysts expect that Cirrus Logic will report full year earnings of $4.82 per share for the current fiscal year, with EPS estimates ranging from $4.44 to $4.90. For the next financial year, analysts expect that the firm will post earnings of $4.90 per share, with EPS estimates ranging from $4.79 to $4.98. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that cover Cirrus Logic.
Cirrus Logic (NASDAQ:CRUS) last released its earnings results on Thursday, November 2nd. The semiconductor company reported $1.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.16. Cirrus Logic had a return on equity of 25.37% and a net margin of 17.11%. The firm had revenue of $425.50 million for the quarter, compared to analysts’ expectations of $410.32 million. During the same quarter in the previous year, the business posted $1.35 earnings per share. The business’s revenue for the quarter was down .7% on a year-over-year basis.
CRUS has been the topic of a number of recent analyst reports. Stifel Nicolaus reiterated a “buy” rating and issued a $75.00 target price on shares of Cirrus Logic in a research report on Thursday, August 3rd. BidaskClub cut Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 2nd. Zacks Investment Research upgraded Cirrus Logic from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research report on Monday, August 7th. Canaccord Genuity reiterated a “buy” rating and issued a $76.00 target price on shares of Cirrus Logic in a research report on Tuesday, September 19th. Finally, ValuEngine upgraded Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Two research analysts have rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Cirrus Logic has a consensus rating of “Buy” and an average target price of $67.05.
Cirrus Logic (NASDAQ CRUS) traded down $0.94 during trading on Wednesday, reaching $54.78. The company’s stock had a trading volume of 1,197,400 shares, compared to its average volume of 1,161,244. Cirrus Logic has a 1 year low of $49.05 and a 1 year high of $71.97. The company has a market capitalization of $3,559.52, a PE ratio of 12.77, a PEG ratio of 1.02 and a beta of 0.05.
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In related news, VP Bradley J. Fluke sold 7,325 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $53.44, for a total value of $391,448.00. Following the sale, the vice president now directly owns 12,000 shares in the company, valued at $641,280. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Andrew Brannan sold 21,504 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $55.10, for a total value of $1,184,870.40. Following the completion of the sale, the vice president now owns 21,504 shares in the company, valued at $1,184,870.40. The disclosure for this sale can be found here. Insiders sold 39,367 shares of company stock worth $2,165,905 over the last quarter. 1.92% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. Fortaleza Asset Management Inc. bought a new stake in Cirrus Logic in the second quarter valued at approximately $102,000. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in Cirrus Logic by 72.2% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,590 shares of the semiconductor company’s stock valued at $138,000 after acquiring an additional 1,086 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in Cirrus Logic by 96.2% in the third quarter. DekaBank Deutsche Girozentrale now owns 2,798 shares of the semiconductor company’s stock valued at $157,000 after acquiring an additional 1,372 shares during the last quarter. ETRADE Capital Management LLC bought a new stake in Cirrus Logic in the second quarter valued at approximately $201,000. Finally, Sapphire Star Partners LP bought a new stake in Cirrus Logic in the third quarter valued at approximately $211,000. Institutional investors and hedge funds own 91.50% of the company’s stock.
Cirrus Logic Company Profile
Cirrus Logic, Inc is engaged in providing integrated circuits (ICs) for audio and voice signal processing applications. The Company develops analog and mixed-signal ICs for a range of customers. The Company offers two product lines: Portable Audio, and Non-Portable Audio and Other. The Company’s primary facility housing engineering, sales and marketing, and administration functions is located in Austin, Texas.
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