Cirrus Logic (CRUS) Set to Announce Quarterly Earnings on Tuesday

Cirrus Logic (NASDAQ:CRUS) is scheduled to release its earnings data 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.Investors that are interested in participating in the company’s conference call can do so using this link.

Cirrus Logic (NASDAQ:CRUS) last announced its earnings results on Tuesday, February 6th. The semiconductor company reported $2.53 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.83. Cirrus Logic had a net margin of 9.84% and a return on equity of 16.13%. The business had revenue of $618.98 million during the quarter, compared to the consensus estimate of $539.55 million. 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 Price Performance

Cirrus Logic stock opened at $88.48 on Monday. The firm’s fifty day moving average price is $89.67 and its 200 day moving average price is $82.86. The company has a market capitalization of $4.77 billion, a price-to-earnings ratio of 28.09 and a beta of 0.99. Cirrus Logic has a 12-month low of $65.02 and a 12-month high of $95.87.

Insider Activity at Cirrus Logic

In other Cirrus Logic news, VP Andrew Brannan sold 3,250 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $94.00, for a total value of $305,500.00. Following the sale, the vice president now directly owns 6,055 shares of the company’s stock, valued at $569,170. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP Justin E. Dougherty sold 3,280 shares of Cirrus Logic stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $91.40, for a total transaction of $299,792.00. Following the sale, the senior vice president now owns 6,000 shares of the company’s stock, valued at $548,400. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Andrew Brannan sold 3,250 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $94.00, for a total value of $305,500.00. Following the completion of the transaction, the vice president now directly owns 6,055 shares of the company’s stock, valued at $569,170. The disclosure for this sale can be found here. Insiders sold 7,530 shares of company stock worth $700,292 in the last 90 days. 0.89% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on CRUS. Susquehanna boosted their price target on Cirrus Logic from $85.00 to $100.00 and gave the stock a “positive” rating in a research note on Wednesday, February 7th. Stifel Nicolaus raised their price target on shares of Cirrus Logic from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. TD Cowen upped their target price on shares of Cirrus Logic from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. StockNews.com downgraded Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 20th. Finally, Barclays lifted their target price on Cirrus Logic from $90.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 16th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average 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.