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.
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.
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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