Cirrus Logic (CRUS) to Release Quarterly Earnings on Tuesday

Cirrus Logic (NASDAQ:CRUS) will announce its earnings results after the market closes on Tuesday, May 7th. Analysts expect the company to announce earnings of $0.67 per share for the quarter. Cirrus Logic has set its Q4 2024 guidance at EPS.Parties that wish to register for the company’s conference call can do so using this link.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $2.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.83. The firm had revenue of $618.98 million for the quarter, compared to the consensus estimate of $539.55 million. Cirrus Logic had a return on equity of 16.13% and a net margin of 9.84%. On average, analysts expect Cirrus Logic to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Cirrus Logic Stock Performance

NASDAQ CRUS opened at $88.48 on Friday. Cirrus Logic has a 52 week low of $65.02 and a 52 week high of $95.87. The stock has a market capitalization of $4.77 billion, a P/E ratio of 28.09 and a beta of 0.99. The stock has a fifty day moving average of $89.67 and a 200-day moving average of $82.76.

Insiders Place Their Bets

In other news, VP Andrew Brannan sold 3,250 shares of Cirrus Logic stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $94.00, for a total transaction of $305,500.00. Following the transaction, the vice president now owns 6,055 shares in the company, valued at approximately $569,170. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Andrew Brannan sold 3,250 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $94.00, for a total transaction of $305,500.00. Following the sale, the vice president now directly owns 6,055 shares in the company, valued at $569,170. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Justin E. Dougherty sold 3,280 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $91.40, for a total transaction of $299,792.00. Following the completion of the sale, the senior vice president now directly owns 6,000 shares in the company, valued at $548,400. The disclosure for this sale can be found here. Insiders sold 7,530 shares of company stock worth $700,292 over the last ninety days. 0.89% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CRUS shares. Susquehanna raised their target price on shares of Cirrus Logic from $85.00 to $100.00 and gave the company a “positive” rating in a research note on Wednesday, February 7th. Barclays increased their price target on Cirrus Logic from $90.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, January 16th. Stifel Nicolaus lifted their price objective on Cirrus Logic from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. StockNews.com cut Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 20th. Finally, TheStreet raised Cirrus Logic from a “c+” rating to a “b-” rating in a research note on Tuesday, January 23rd. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $96.43.

Cirrus Logic Company Profile

Cirrus Logic, Inc, a fabless semiconductor company, develops low-power, high-precision mixed-signal processing solutions in China, the United States, and internationally. The company offers audio products, including codecs components that integrate analog-to-digital converters (ADCs) and digital-to-analog converters (DACs) into a single integrated circuit (IC); smart codecs, a codec with digital signal processing; boosted amplifiers; standalone digital signal processors; and SoundClear technology, which consists of a portfolio of tools, software, and algorithms that helps to enhance user experience with features, such as louder, high-fidelity sound, audio playback, voice capture, and hearing augmentation.