Analysts Anticipate Cirrus Logic, Inc. (CRUS) to Post $1.13 Earnings Per Share

Brokerages predict that Cirrus Logic, Inc. (NASDAQ:CRUS) will report earnings of $1.13 per share for the current quarter, Zacks reports. Three analysts have made estimates for Cirrus Logic’s earnings. The lowest EPS estimate is $1.04 and the highest is $1.16. Cirrus Logic reported earnings per share of $1.59 during the same quarter last year, which suggests a negative year over year growth rate of 28.9%. The company is expected to issue its next earnings report on Monday, February 4th.

On average, analysts expect that Cirrus Logic will report full-year earnings of $3.10 per share for the current financial year, with EPS estimates ranging from $2.95 to $3.20. For the next fiscal year, analysts forecast that the firm will report earnings of $3.22 per share, with EPS estimates ranging from $3.05 to $3.42. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that that provide coverage for Cirrus Logic.

Cirrus Logic (NASDAQ:CRUS) last released its earnings results on Thursday, November 1st. The semiconductor company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.34. The business had revenue of $366.30 million for the quarter, compared to the consensus estimate of $330.27 million. Cirrus Logic had a net margin of 7.09% and a return on equity of 15.55%. The firm’s quarterly revenue was down 13.9% compared to the same quarter last year. During the same period last year, the firm posted $1.36 earnings per share.

Several research analysts have recently weighed in on the stock. ValuEngine raised shares of Cirrus Logic from a “sell” rating to a “hold” rating in a research report on Tuesday, September 4th. Zacks Investment Research raised shares of Cirrus Logic from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research report on Tuesday, August 7th. BidaskClub downgraded shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Thursday, September 6th. Needham & Company LLC reissued a “hold” rating on shares of Cirrus Logic in a research report on Wednesday, November 21st. Finally, TheStreet raised shares of Cirrus Logic from a “c+” rating to a “b-” rating in a research report on Thursday, November 8th. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. Cirrus Logic currently has an average rating of “Hold” and a consensus price target of $47.48.

Shares of Cirrus Logic stock traded up $0.14 during trading on Friday, hitting $37.44. The stock had a trading volume of 948,610 shares, compared to its average volume of 1,132,780. The company has a market cap of $2.24 billion, a P/E ratio of 10.15, a price-to-earnings-growth ratio of 1.02 and a beta of 0.45. Cirrus Logic has a 1 year low of $34.49 and a 1 year high of $55.66.

Several hedge funds have recently bought and sold shares of CRUS. Principal Financial Group Inc. boosted its holdings in shares of Cirrus Logic by 1.7% during the first quarter. Principal Financial Group Inc. now owns 278,633 shares of the semiconductor company’s stock worth $11,321,000 after purchasing an additional 4,572 shares during the period. Fox Run Management L.L.C. acquired a new stake in shares of Cirrus Logic during the second quarter worth approximately $216,000. Alps Advisors Inc. acquired a new stake in shares of Cirrus Logic during the second quarter worth approximately $428,000. Adams Diversified Equity Fund Inc. boosted its holdings in shares of Cirrus Logic by 63.0% during the second quarter. Adams Diversified Equity Fund Inc. now owns 13,200 shares of the semiconductor company’s stock worth $506,000 after purchasing an additional 5,100 shares during the period. Finally, Aperio Group LLC boosted its holdings in shares of Cirrus Logic by 123.3% during the second quarter. Aperio Group LLC now owns 45,001 shares of the semiconductor company’s stock worth $1,725,000 after purchasing an additional 24,851 shares during the period. Institutional investors and hedge funds own 90.45% of the company’s stock.

About Cirrus Logic

Cirrus Logic, Inc, a fabless semiconductor company, develops, manufactures, and markets analog and mixed-signal integrated circuits (ICs) for a range of consumer and industrial markets. The company offers portable and non-portable audio, and other products. Its products include analog and mixed-signal audio converters, and digital signal processing products for mobile applications; codecs-chips that integrate analog-to-digital converters and digital-to-analog converters into a single IC; smart codecs, a codec with digital signal processer; boosted amplifiers; micro-electromechanical systems microphones; digital interface products; and standalone digital signal processors.

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