KeyCorp Issues Negative Forecast for Cirrus Logic Earnings

Cirrus Logic, Inc. (NASDAQ:CRUS) – KeyCorp cut their Q2 2027 earnings per share (EPS) estimates for shares of Cirrus Logic in a report issued on Wednesday, October 14th. KeyCorp analyst J. Vinh now expects that the semiconductor company will post earnings of $2.11 per share for the quarter, down from their previous estimate of $2.17. KeyCorp has a “Sector Weight” rating on the stock. The consensus estimate for Cirrus Logic’s current full-year earnings is $7.20 per share. KeyCorp also issued estimates for Cirrus Logic’s Q3 2027 earnings at $2.19 EPS, Q4 2027 earnings at $1.27 EPS, FY2027 earnings at $7.09 EPS, Q1 2028 earnings at $1.09 EPS, Q2 2028 earnings at $2.09 EPS, Q3 2028 earnings at $2.41 EPS, Q4 2028 earnings at $0.88 EPS and FY2028 earnings at $6.47 EPS.

Cirrus Logic (NASDAQ:CRUS) last released its earnings results on Wednesday, August 5th. The semiconductor company reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.81 by $0.03. The business had revenue of $459.72 million during the quarter, compared to analyst estimates of $460.32 million. Cirrus Logic had a net margin of 21.00% and a return on equity of 20.61%. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.51 earnings per share.

Several other research firms have also recently commented on CRUS. Zacks Research cut Cirrus Logic from a “hold” rating to a “strong sell” rating in a report on Friday, August 14th. Barclays lowered Cirrus Logic from an “equal weight” rating to an “underweight” rating in a research note on Tuesday. Weiss Ratings upgraded shares of Cirrus Logic from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday. Wall Street Zen lowered Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Sunday. Finally, Stifel Nicolaus cut their target price on Cirrus Logic from $197.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $150.71.

Cirrus Logic Price Performance

Shares of Cirrus Logic stock opened at $110.81 on Monday. The stock has a market cap of $5.55 billion, a P/E ratio of 13.56 and a beta of 1.17. The stock’s 50 day simple moving average is $115.20 and its 200-day simple moving average is $141.05. Cirrus Logic has a 1-year low of $105.10 and a 1-year high of $180.42.

Insider Buying and Selling

In other Cirrus Logic news, EVP Jeffrey Baumgartner sold 1,166 shares of Cirrus Logic stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $119.00, for a total value of $138,754.00. Following the completion of the transaction, the executive vice president directly owned 12,907 shares of the company’s stock, valued at $1,535,933. The trade was a 8.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.20% of the stock is owned by company insiders.

Institutional Trading of Cirrus Logic

Institutional investors and hedge funds have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd grew its stake in shares of Cirrus Logic by 7,333.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 223 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 220 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in Cirrus Logic in the third quarter valued at $30,000. Geneos Wealth Management Inc. raised its stake in Cirrus Logic by 120.0% in the first quarter. Geneos Wealth Management Inc. now owns 220 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 120 shares in the last quarter. Coppell Advisory Solutions LLC acquired a new stake in Cirrus Logic in the second quarter valued at $39,000. Finally, Elevation Wealth Partners LLC raised its stake in Cirrus Logic by 72.5% in the second quarter. Elevation Wealth Partners LLC now owns 295 shares of the semiconductor company’s stock valued at $44,000 after buying an additional 124 shares in the last quarter. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

About Cirrus Logic

Cirrus Logic, Inc is a fabless semiconductor company that designs high-performance, low-power analog and mixed-signal integrated circuits. Its products are used to process, manage and enhance audio and other signals in electronic devices, including smartphones, tablets, laptops, headphones, smart speakers and automotive systems.

The company’s product portfolio includes audio codecs, digital-to-analog and analog-to-digital converters, amplifiers, haptic controllers, sensing solutions and power-management components.