KeyCorp Issues Negative Estimate for Cirrus Logic Earnings

Cirrus Logic, Inc. (NASDAQ:CRUS) – Analysts at KeyCorp lowered their Q2 2027 earnings per share (EPS) estimates for Cirrus Logic in a note issued to investors on Wednesday, October 14th. KeyCorp analyst J. Vinh now expects that the semiconductor company will earn $2.11 per share for the quarter, down from their previous estimate of $2.17. KeyCorp currently has a “Sector Weight” rating on the stock. The consensus estimate for Cirrus Logic’s current full-year earnings is $7.20 per share. KeyCorp also issued estimates for Cirrus Logic’s Q3 2027 earnings at $2.19 EPS, Q4 2027 earnings at $1.27 EPS, FY2027 earnings at $7.09 EPS, Q1 2028 earnings at $1.09 EPS, Q2 2028 earnings at $2.09 EPS, Q3 2028 earnings at $2.41 EPS, Q4 2028 earnings at $0.88 EPS and FY2028 earnings at $6.47 EPS.

Cirrus Logic (NASDAQ:CRUS) last announced its earnings results on Wednesday, August 5th. The semiconductor company reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.81 by $0.03. The business had revenue of $459.72 million for the quarter, compared to analyst estimates of $460.32 million. Cirrus Logic had a net margin of 21.00% and a return on equity of 20.61%. Cirrus Logic’s revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.51 earnings per share.

Several other equities analysts have also recently commented on the company. Barclays cut their price target on Cirrus Logic from $140.00 to $130.00 and set an “equal weight” rating for the company in a report on Thursday, August 6th. Zacks Research downgraded Cirrus Logic from a “hold” rating to a “strong sell” rating in a research report on Friday, August 14th. Stifel Nicolaus decreased their price objective on Cirrus Logic from $197.00 to $160.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Wall Street Zen cut Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Sunday. Finally, Weiss Ratings upgraded Cirrus Logic from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $150.71.

Cirrus Logic Stock Up 0.7%

CRUS stock opened at $108.60 on Monday. Cirrus Logic has a twelve month low of $105.10 and a twelve month high of $180.42. The company has a market cap of $5.44 billion, a PE ratio of 13.29 and a beta of 1.17. The business’s 50-day simple moving average is $115.43 and its 200 day simple moving average is $141.30.

Insider Activity at Cirrus Logic

In other news, EVP Jeffrey Baumgartner sold 1,166 shares of the company’s stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $119.00, for a total value of $138,754.00. Following the sale, the executive vice president owned 12,907 shares of the company’s stock, valued at approximately $1,535,933. This represents a 8.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Cirrus Logic

Several institutional investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd raised its holdings in shares of Cirrus Logic by 7,333.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 223 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 220 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in Cirrus Logic in the 3rd quarter valued at about $30,000. Geneos Wealth Management Inc. increased its position in Cirrus Logic by 120.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 220 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 120 shares in the last quarter. Coppell Advisory Solutions LLC acquired a new stake in Cirrus Logic in the 2nd quarter valued at about $39,000. Finally, Elevation Wealth Partners LLC raised its stake in shares of Cirrus Logic by 72.5% in the second quarter. Elevation Wealth Partners LLC now owns 295 shares of the semiconductor company’s stock worth $44,000 after acquiring an additional 124 shares during the last quarter. 87.96% of the stock is owned by institutional investors.

Cirrus Logic Company Profile

Cirrus Logic, Inc is a fabless semiconductor company that designs high-performance, low-power analog and mixed-signal integrated circuits. Its products are used to process, manage and enhance audio and other signals in electronic devices, including smartphones, tablets, laptops, headphones, smart speakers and automotive systems.

The company’s product portfolio includes audio codecs, digital-to-analog and analog-to-digital converters, amplifiers, haptic controllers, sensing solutions and power-management components.