Analysts Expect Cirrus Logic, Inc. (NASDAQ:CRUS) Will Post Earnings of $1.12 Per Share

Equities research analysts forecast that Cirrus Logic, Inc. (NASDAQ:CRUS) will announce earnings of $1.12 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Cirrus Logic’s earnings. The highest EPS estimate is $1.13 and the lowest is $1.12. Cirrus Logic reported earnings of $0.91 per share during the same quarter last year, which suggests a positive year over year growth rate of 23.1%. The business is scheduled to announce its next quarterly earnings report on Wednesday, January 29th.

On average, analysts expect that Cirrus Logic will report full year earnings of $3.39 per share for the current fiscal year, with EPS estimates ranging from $3.25 to $3.51. For the next financial year, analysts anticipate that the firm will report earnings of $3.32 per share, with EPS estimates ranging from $2.82 to $3.50. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow Cirrus Logic.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.61. Cirrus Logic had a return on equity of 13.04% and a net margin of 9.81%. The firm had revenue of $389.00 million during the quarter, compared to analyst estimates of $320.37 million. During the same quarter in the previous year, the business earned $1.08 earnings per share. Cirrus Logic’s quarterly revenue was up 6.2% on a year-over-year basis.

A number of equities analysts have recently issued reports on the company. Barclays raised Cirrus Logic from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $40.00 to $55.00 in a research report on Thursday, October 17th. Benchmark raised their price target on Cirrus Logic from $70.00 to $80.00 and gave the company a “market weight” rating in a research note on Friday, November 15th. Needham & Company LLC restated a “hold” rating on shares of Cirrus Logic in a report on Monday, August 5th. TheStreet raised shares of Cirrus Logic from a “c+” rating to a “b” rating in a research note on Thursday, October 31st. Finally, Cowen upped their price objective on shares of Cirrus Logic from $56.00 to $62.00 and gave the stock a “market perform” rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Cirrus Logic has a consensus rating of “Hold” and an average price target of $58.56.

In other news, VP Scott Arnold Anderson sold 16,000 shares of Cirrus Logic stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $71.13, for a total value of $1,138,080.00. Also, insider John Forsyth sold 7,521 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $72.24, for a total value of $543,317.04. In the last 90 days, insiders have sold 47,633 shares of company stock valued at $3,429,133. 2.79% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of CRUS. Amundi Pioneer Asset Management Inc. boosted its position in Cirrus Logic by 175.2% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 7,854 shares of the semiconductor company’s stock valued at $330,000 after purchasing an additional 5,000 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in Cirrus Logic in the second quarter worth about $44,000. HGK Asset Management Inc. raised its holdings in Cirrus Logic by 13.2% in the second quarter. HGK Asset Management Inc. now owns 11,981 shares of the semiconductor company’s stock worth $524,000 after purchasing an additional 1,397 shares in the last quarter. Convergence Investment Partners LLC purchased a new stake in shares of Cirrus Logic during the second quarter valued at about $248,000. Finally, NJ State Employees Deferred Compensation Plan purchased a new stake in shares of Cirrus Logic during the second quarter valued at about $262,000. Hedge funds and other institutional investors own 92.36% of the company’s stock.

CRUS traded down $0.19 during trading on Tuesday, hitting $70.67. 733,070 shares of the stock were exchanged, compared to its average volume of 700,297. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.63 and a current ratio of 3.38. The firm has a 50 day simple moving average of $65.78 and a 200 day simple moving average of $52.56. The firm has a market cap of $4.14 billion, a price-to-earnings ratio of 34.47, a P/E/G ratio of 1.76 and a beta of 0.94. Cirrus Logic has a 1 year low of $31.25 and a 1 year high of $73.50.

Cirrus Logic Company Profile

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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