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

Cirrus Logic (NASDAQ:CRUS) is scheduled to 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 interested in participating in 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 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.83. The firm had revenue of $618.98 million for the quarter, compared to analyst estimates 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 Monday. The company has a market cap of $4.77 billion, a price-to-earnings ratio of 28.09 and a beta of 0.99. Cirrus Logic has a fifty-two week low of $65.02 and a fifty-two week high of $95.87. The stock has a fifty day moving average price of $89.67 and a 200-day moving average price of $82.86.

Insider Buying and Selling

In other Cirrus Logic news, CFO Venkatesh Nathamuni sold 1,000 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $95.00, for a total value of $95,000.00. Following the completion of the transaction, the chief financial officer now directly owns 1,587 shares in the company, valued at $150,765. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Cirrus Logic news, CFO Venkatesh Nathamuni sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. Following the completion of the transaction, the chief financial officer now directly owns 1,587 shares in the company, valued at approximately $150,765. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 transaction, the vice president now directly owns 6,055 shares of the company’s stock, valued at approximately $569,170. The disclosure for this sale can be found here. Insiders have sold 7,530 shares of company stock worth $700,292 in the last 90 days. Insiders own 0.89% of the company’s stock.

Analyst Upgrades and Downgrades

CRUS has been the subject of several recent analyst reports. Susquehanna upped their price objective on shares of Cirrus Logic from $85.00 to $100.00 and gave the stock a “positive” rating in a research report 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 boosted their price objective on shares of Cirrus Logic from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Barclays upped their target price on Cirrus Logic from $90.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. Finally, TD Cowen boosted their price target on Cirrus Logic from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently 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.