Brokers Offer Predictions for Cirrus Logic, Inc.’s Q4 2018 Earnings (CRUS)

Cirrus Logic, Inc. (NASDAQ:CRUS) – Investment analysts at Oppenheimer decreased their Q4 2018 earnings per share (EPS) estimates for shares of Cirrus Logic in a report issued on Tuesday. Oppenheimer analyst R. Schafer now expects that the semiconductor company will post earnings per share of $0.44 for the quarter, down from their previous forecast of $0.61.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings results on Monday, February 5th. The semiconductor company reported $1.59 earnings per share for the quarter, missing analysts’ consensus estimates of $1.78 by ($0.19). Cirrus Logic had a net margin of 11.89% and a return on equity of 22.60%. The company had revenue of $482.70 million during the quarter, compared to analysts’ expectations of $530.99 million. During the same period last year, the firm earned $1.87 earnings per share. Cirrus Logic’s revenue was down 7.7% on a year-over-year basis.

Other equities research analysts have also recently issued reports about the stock. Barclays reduced their price target on shares of Cirrus Logic from $45.00 to $36.00 and set an “underweight” rating for the company in a research report on Tuesday. Needham & Company LLC cut shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Tuesday. Northland Securities reissued a “buy” rating and issued a $60.00 price target on shares of Cirrus Logic in a research report on Tuesday. BidaskClub cut shares of Cirrus Logic from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 12th. Finally, Craig Hallum reaffirmed a “hold” rating and issued a $54.00 target price (down from $63.00) on shares of Cirrus Logic in a report on Friday, November 3rd. Five analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $60.92.

Shares of Cirrus Logic (NASDAQ CRUS) traded up $2.01 on Friday, reaching $42.28. 1,589,574 shares of the company were exchanged, compared to its average volume of 1,399,309. Cirrus Logic has a 52-week low of $39.51 and a 52-week high of $71.97. The stock has a market capitalization of $2,600.00, a PE ratio of 14.78, a PEG ratio of 1.13 and a beta of -0.02.

Institutional investors have recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Cirrus Logic by 72.2% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,590 shares of the semiconductor company’s stock worth $138,000 after acquiring an additional 1,086 shares during the period. DekaBank Deutsche Girozentrale increased its stake in shares of Cirrus Logic by 96.2% during the third quarter. DekaBank Deutsche Girozentrale now owns 2,798 shares of the semiconductor company’s stock worth $157,000 after acquiring an additional 1,372 shares during the period. Capital Fund Management S.A. acquired a new position in shares of Cirrus Logic during the fourth quarter worth about $200,000. Sapphire Star Partners LP acquired a new position in Cirrus Logic during the third quarter worth about $211,000. Finally, Rational Advisors LLC acquired a new position in Cirrus Logic during the third quarter worth about $213,000. Institutional investors and hedge funds own 89.58% of the company’s stock.

In other news, Director Christine King sold 5,000 shares of the business’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $54.14, for a total transaction of $270,700.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have sold 6,140 shares of company stock worth $328,552. Company insiders own 1.92% of the company’s stock.

Cirrus Logic declared that its Board of Directors has authorized a stock repurchase program on Monday, February 5th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the semiconductor company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

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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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