Analysts Expect Cirrus Logic, Inc. (NASDAQ:CRUS) Will Post Earnings of $1.63 Per Share

Wall Street brokerages expect Cirrus Logic, Inc. (NASDAQ:CRUS) to announce $1.63 earnings per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Cirrus Logic’s earnings, with the highest EPS estimate coming in at $1.65 and the lowest estimate coming in at $1.61. Cirrus Logic reported earnings of $1.26 per share during the same quarter last year, which would indicate a positive year over year growth rate of 29.4%. The firm is expected to announce its next quarterly earnings report on Monday, November 1st.

According to Zacks, analysts expect that Cirrus Logic will report full-year earnings of $4.98 per share for the current year, with EPS estimates ranging from $4.69 to $5.23. For the next year, analysts expect that the firm will report earnings of $5.37 per share, with EPS estimates ranging from $5.16 to $5.55. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that cover Cirrus Logic.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Tuesday, July 27th. The semiconductor company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.38. The business had revenue of $277.25 million for the quarter, compared to analyst estimates of $260.79 million. Cirrus Logic had a return on equity of 16.55% and a net margin of 15.41%.

A number of equities research analysts have commented on CRUS shares. Loop Capital started coverage on Cirrus Logic in a research report on Thursday, June 17th. They issued a “buy” rating and a $111.00 price target on the stock. Craig Hallum upgraded Cirrus Logic from a “hold” rating to a “buy” rating and set a $105.00 price target on the stock in a research report on Thursday, July 29th. Susquehanna reiterated a “buy” rating and issued a $115.00 price target on shares of Cirrus Logic in a research report on Thursday, July 29th. Stifel Nicolaus reiterated a “buy” rating and issued a $112.00 price target on shares of Cirrus Logic in a research report on Thursday. Finally, Benchmark started coverage on Cirrus Logic in a research report on Thursday, July 29th. They issued a “buy” rating and a $110.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Cirrus Logic has a consensus rating of “Buy” and an average price target of $104.34.

In other Cirrus Logic news, VP Jodee Benson sold 10,562 shares of the stock in a transaction on Friday, September 10th. The stock was sold at an average price of $88.00, for a total transaction of $929,456.00. Following the completion of the transaction, the vice president now directly owns 15,054 shares of the company’s stock, valued at $1,324,752. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Alan R. Schuele sold 5,000 shares of the firm’s stock in a transaction on Wednesday, July 28th. The stock was sold at an average price of $83.29, for a total value of $416,450.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 65,851 shares of company stock valued at $5,604,019. 2.04% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the stock. IFP Advisors Inc raised its position in shares of Cirrus Logic by 332.8% in the second quarter. IFP Advisors Inc now owns 290 shares of the semiconductor company’s stock worth $25,000 after buying an additional 223 shares in the last quarter. Van ECK Associates Corp purchased a new stake in shares of Cirrus Logic in the first quarter worth $26,000. Parisi Gray Wealth Management purchased a new stake in shares of Cirrus Logic in the second quarter worth $82,000. Advisory Services Network LLC purchased a new stake in shares of Cirrus Logic in the second quarter worth $83,000. Finally, Lazard Asset Management LLC purchased a new stake in shares of Cirrus Logic in the first quarter worth $86,000. Institutional investors own 84.26% of the company’s stock.

Shares of CRUS stock opened at $84.73 on Wednesday. The firm has a market capitalization of $4.88 billion, a P/E ratio of 23.47, a P/E/G ratio of 2.35 and a beta of 0.87. Cirrus Logic has a twelve month low of $58.28 and a twelve month high of $103.25. The stock’s fifty day simple moving average is $82.82 and its 200 day simple moving average is $81.14.

About Cirrus Logic

Cirrus Logic, Inc develops high-precision, analog and mixed-signal integrated circuits for a range of customers. It builds an analog and signal-processing patent portfolio. The firm delivers optimized products for a variety of audio, industrial and energy-related applications. Its product lines include portable audio products and non-portable audio and other products.

Further Reading: Hold Rating

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Earnings History and Estimates for Cirrus Logic (NASDAQ:CRUS)

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