KeyCorp Comments on Cirrus Logic's Q2 Earnings (NASDAQ:CRUS)

Key Points

• KeyCorp lowered its Q2 2027 EPS estimate for Cirrus Logic to $2.11 from $2.17 and maintains a “Sector Weight” rating. The firm projects fiscal 2027 EPS of $7.09 and fiscal 2028 EPS of $6.47.
• Analyst sentiment is mixed, with Cirrus Logic carrying a consensus “Hold” rating and an average price target of $150.71. Recent actions included target-price cuts from Stifel and Barclays, along with a downgrade from Zacks Research.
• Cirrus Logic’s latest quarterly results beat EPS expectations by reporting $1.84 per share, while revenue rose 12.9% year over year but slightly missed forecasts. Shares recently traded near $107.87, well below their 12-month high of $180.42.

Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) - Stock analysts at KeyCorp cut their Q2 2027 EPS estimates for shares of Cirrus Logic in a report released on Wednesday, October 14th. KeyCorp analyst J. Vinh now anticipates that the semiconductor company will post earnings of $2.11 per share for the quarter, down from their previous estimate of $2.17. KeyCorp currently 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.

Other equities research analysts have also issued reports about the company. Zacks Research lowered Cirrus Logic from a "hold" rating to a "strong sell" rating in a research note on Friday, August 14th. Stifel Nicolaus dropped their target price on Cirrus Logic from $197.00 to $160.00 and set a "buy" rating for the company in a report on Thursday, August 6th. Barclays cut their target price on Cirrus Logic from $140.00 to $130.00 and set an "equal weight" rating for the company in a research report on Thursday, August 6th. Weiss Ratings raised Cirrus Logic from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday. Finally, Wall Street Zen lowered Cirrus Logic from a "buy" rating to a "hold" rating in a research note on Sunday. Four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Cirrus Logic has a consensus rating of "Hold" and a consensus price target of $150.71.

Cirrus Logic Price Performance

Shares of CRUS opened at $107.87 on Monday. The company has a 50-day moving average price of $115.69 and a two-hundred day moving average price of $141.55. The stock has a market cap of $5.41 billion, a price-to-earnings ratio of 13.20 and a beta of 1.17. Cirrus Logic has a 12 month low of $105.10 and a 12 month high of $180.42.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last posted its earnings results on Wednesday, August 5th. The semiconductor company reported $1.84 earnings per share for the quarter, beating analysts' consensus estimates of $1.81 by $0.03. The business had revenue of $459.72 million for the quarter, compared to analysts' expectations of $460.32 million. Cirrus Logic had a net margin of 21.00% and a return on equity of 20.61%. The firm's revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.51 earnings per share.

Insider Activity

In related news, EVP Jeffrey Baumgartner sold 1,166 shares of the stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $119.00, for a total transaction of $138,754.00. Following the completion of the sale, the executive vice president owned 12,907 shares in the company, valued at $1,535,933. This trade represents a 8.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cirrus Logic

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CRUS. Counterpoint Mutual Funds LLC acquired a new position in Cirrus Logic in the third quarter worth $529,000. Pension & Wealth Management Advisors Inc. bought a new stake in shares of Cirrus Logic during the third quarter worth $170,000. V Square Quantitative Management LLC bought a new stake in shares of Cirrus Logic during the third quarter worth $30,000. ABLE Financial Group LLC increased its stake in shares of Cirrus Logic by 7.1% in the third quarter. ABLE Financial Group LLC now owns 14,358 shares of the semiconductor company's stock valued at $1,723,000 after buying an additional 957 shares in the last quarter. Finally, RHS Financial LLC increased its stake in shares of Cirrus Logic by 6.8% in the third quarter. RHS Financial LLC now owns 1,968 shares of the semiconductor company's stock valued at $236,000 after buying an additional 125 shares in the last quarter. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Key Cirrus Logic News

Here are the key news stories impacting Cirrus Logic this week:

• Positive Sentiment: GlobalFoundries plans to build two New York semiconductor fabs with up to $21 billion in Japanese-backed funding. Cirrus Logic is listed among the expected customers, alongside Apple, General Motors and Renesas, potentially improving long-term supply capacity and manufacturing visibility when the facilities begin operating in 2029. GlobalFoundries' $21 Billion Deal Could Change the Economics of Chipmaking
• Positive Sentiment: Analysts’ average price target of approximately $150.71 remains materially above recent trading levels, suggesting potential upside if Cirrus Logic meets expectations and the company’s growth outlook improves. Nine analysts set USD 150.71 target for Cirrus Logic stock
• Neutral Sentiment: Cirrus Logic’s quarterly results previously exceeded the consensus EPS estimate, while revenue increased year over year. However, the company slightly missed the revenue forecast, leaving investors focused on forward demand and customer concentration.
• Negative Sentiment: KeyBanc downgraded Cirrus Logic from Overweight to Equal Weight/Sector Weight after its Asia trip, citing concerns related to Apple. Although the firm noted strength in memory and analog markets, the downgrade removes a bullish recommendation and likely weighs on sentiment. KeyBanc Downgrades Cirrus Logic to Sector Weight Cirrus Logic downgraded by KeyBanc on Apple concerns

About Cirrus Logic

Cirrus Logic, Inc is a fabless semiconductor company that develops high-performance, low-power analog and mixed-signal processing solutions. Its technologies are designed to capture, process, and enhance audio and other sensory signals in electronic devices.

The company's products include audio converters, codecs, amplifiers, digital signal processors, voice-input components, and haptic and sensing solutions. These products are used in smartphones, laptops, tablets, headphones, home audio equipment, automotive systems, and other consumer and industrial applications.

Headquartered in Austin, Texas, Cirrus Logic serves customers globally through a combination of product development, engineering, sales, and support operations.

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