Cirrus Logic, Inc. (CRUS) Scheduled to Post Quarterly Earnings on Thursday
Cirrus Logic, Inc. (NASDAQ:CRUS) will be issuing its quarterly earnings data on Thursday, November 2nd. Analysts expect the company to announce earnings of $1.20 per share for the quarter.
Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Wednesday, August 2nd. The semiconductor company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.15. Cirrus Logic had a return on equity of 26.71% and a net margin of 17.38%. The firm had revenue of $320.70 million during the quarter, compared to analyst estimates of $320.32 million. During the same quarter last year, the firm earned $0.44 EPS. Cirrus Logic’s quarterly revenue was up 23.6% on a year-over-year basis. On average, analysts expect Cirrus Logic to post $4.22 EPS for the current fiscal year and $4.35 EPS for the next fiscal year.
Shares of Cirrus Logic, Inc. (NASDAQ CRUS) opened at 56.00 on Wednesday. The firm has a market cap of $3.57 billion, a price-to-earnings ratio of 13.10 and a beta of 0.01. Cirrus Logic, Inc. has a 52 week low of $49.05 and a 52 week high of $71.97. The firm’s 50-day moving average price is $54.62 and its 200-day moving average price is $60.42.
Several equities analysts recently issued reports on CRUS shares. Bank of America Corporation started coverage on Cirrus Logic in a research note on Monday, September 18th. They set an “underperform” rating and a $50.00 price target on the stock. Barclays PLC lowered Cirrus Logic from an “equal weight” rating to an “underweight” rating and set a $55.00 price target on the stock. in a research note on Tuesday, July 18th. Vetr upgraded Cirrus Logic from a “buy” rating to a “strong-buy” rating and set a $66.67 price target on the stock in a research note on Thursday, August 3rd. Craig Hallum restated a “hold” rating on shares of Cirrus Logic in a research note on Wednesday, September 13th. Finally, KeyCorp restated an “overweight” rating on shares of Cirrus Logic in a research note on Thursday, September 14th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Cirrus Logic has a consensus rating of “Buy” and an average target price of $67.69.
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In other news, VP Randolph K. Carlson sold 53,332 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $57.10, for a total value of $3,045,257.20. Following the sale, the vice president now directly owns 27,265 shares in the company, valued at approximately $1,556,831.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Alan R. Schuele sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $57.30, for a total value of $114,600.00. Following the completion of the sale, the director now owns 14,165 shares in the company, valued at $811,654.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 108,129 shares of company stock worth $6,091,052. Corporate insiders own 1.92% of the company’s stock.
About Cirrus Logic
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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