Cirrus Logic (CRUS) Scheduled to Post Quarterly Earnings on Tuesday

Cirrus Logic (NASDAQ:CRUS) will issue its quarterly 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.Parties that are interested in registering for the company’s conference call can do so using this link.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $2.53 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.83. The business had revenue of $618.98 million for the quarter, compared to analyst estimates of $539.55 million. Cirrus Logic had a net margin of 9.84% and a return on equity of 16.13%. 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 Up 2.0 %

NASDAQ CRUS opened at $90.30 on Tuesday. The firm has a 50-day moving average price of $90.01 and a two-hundred day moving average price of $82.40. Cirrus Logic has a 12-month low of $65.02 and a 12-month high of $95.87. The company has a market capitalization of $4.87 billion, a P/E ratio of 28.67 and a beta of 1.00.

Insider Buying and Selling

In other Cirrus Logic news, VP Andrew Brannan sold 3,250 shares of the firm’s stock in a transaction that occurred 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 completion of 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 SEC, which can be accessed through the SEC website. In related news, 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 transaction, the senior vice president now owns 6,000 shares in the company, valued at approximately $548,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Andrew Brannan sold 3,250 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $94.00, for a total transaction of $305,500.00. Following the completion of the sale, the vice president now owns 6,055 shares of the company’s stock, valued at $569,170. The disclosure for this sale can be found here. Insiders have sold a total of 7,530 shares of company stock valued at $700,292 over the last ninety days. 0.89% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CRUS has been the subject of a number of analyst reports. TD Cowen boosted their price target on 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 lowered shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 20th. Stifel Nicolaus upped their target price on Cirrus Logic from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Susquehanna lifted their price target on Cirrus Logic from $85.00 to $100.00 and gave the company a “positive” rating in a research note on Wednesday, February 7th. Finally, TheStreet upgraded Cirrus Logic from a “c+” rating to a “b-” rating in a research report on Tuesday, January 23rd. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Cirrus Logic presently has an average rating of “Buy” and a consensus 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.