Equities analysts expect that Cirrus Logic, Inc. (NASDAQ:CRUS) will post $261.19 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Cirrus Logic’s earnings. The highest sales estimate is $262.38 million and the lowest is $260.00 million. Cirrus Logic reported sales of $242.57 million during the same quarter last year, which indicates a positive year-over-year growth rate of 7.7%. The firm is scheduled to issue its next earnings report on Monday, August 2nd.
On average, analysts expect that Cirrus Logic will report full-year sales of $1.48 billion for the current financial year, with estimates ranging from $1.45 billion to $1.53 billion. For the next fiscal year, analysts expect that the firm will report sales of $1.57 billion, with estimates ranging from $1.50 billion to $1.66 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Cirrus Logic.
Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Thursday, April 29th. The semiconductor company reported $0.66 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by ($0.05). Cirrus Logic had a return on equity of 14.92% and a net margin of 12.57%.
In related news, Director Timothy R. Dehne sold 1,000 shares of the firm’s stock in a transaction on Thursday, April 1st. The shares were sold at an average price of $86.77, for a total value of $86,770.00. Following the transaction, the director now directly owns 16,014 shares in the company, valued at approximately $1,389,534.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.83% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in CRUS. Edgestream Partners L.P. bought a new position in Cirrus Logic in the fourth quarter worth $7,017,000. Norges Bank bought a new stake in Cirrus Logic in the fourth quarter valued at about $65,413,000. Cardinal Capital Management raised its position in Cirrus Logic by 1.9% in the fourth quarter. Cardinal Capital Management now owns 13,623 shares of the semiconductor company’s stock worth $1,120,000 after purchasing an additional 257 shares in the last quarter. First Quadrant L P CA raised its position in Cirrus Logic by 487.0% in the first quarter. First Quadrant L P CA now owns 4,279 shares of the semiconductor company’s stock worth $363,000 after purchasing an additional 3,550 shares in the last quarter. Finally, Retirement Systems of Alabama boosted its holdings in Cirrus Logic by 3.3% during the first quarter. Retirement Systems of Alabama now owns 160,762 shares of the semiconductor company’s stock valued at $13,631,000 after purchasing an additional 5,207 shares in the last quarter. 84.24% of the stock is currently owned by institutional investors.
NASDAQ:CRUS opened at $75.12 on Wednesday. The stock has a market cap of $4.36 billion, a price-to-earnings ratio of 29.00, a PEG ratio of 3.77 and a beta of 0.88. Cirrus Logic has a 1 year low of $55.30 and a 1 year high of $103.25. The business has a fifty day moving average of $83.15 and a 200-day moving average of $82.33.
Cirrus Logic announced that its Board of Directors has approved a stock buyback plan on Monday, February 1st that permits the company to repurchase $350.00 million in shares. This repurchase authorization permits the semiconductor company to buy up to 6.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
About Cirrus Logic
Cirrus Logic, Inc, a fabless semiconductor company, develops, manufactures, and markets analog and mixed-signal integrated circuits (ICs) in the United States and internationally. It offers portable products, including codecs-chips that integrate analog-to-digital converters (ADCs) and digital-to-analog converters (DACs) into a single IC; smart codecs, a codec with digital signal processer; boosted amplifiers; micro-electromechanical systems microphones; haptic drivers; digital signal processors; and SoundClear technology, which consists of a portfolio of tools, software, and algorithms that offer enhanced voice quality, voice capture, and audio playback features.
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