KeyCorp Forecasts Cirrus Logic's Q1 Earnings (NASDAQ:CRUS)

Key Points

• KeyCorp raised its Q1 2027 EPS estimate for Cirrus Logic to $1.45 from $0.72, while keeping an Overweight rating and $190 price target on the stock.
• Cirrus Logic recently beat its latest quarterly earnings, reporting $1.95 EPS versus estimates of $1.76 and revenue of $448.52 million, up 5.7% year over year.
• Despite the upbeat note, KeyCorp trimmed several forward estimates for later quarters, and the stock was trading around $136.97, below its recent highs and under pressure from a recent pullback.

Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) - KeyCorp lifted their Q1 2027 earnings estimates for Cirrus Logic in a note issued to investors on Monday, July 13th. KeyCorp analyst J. Vinh now forecasts that the semiconductor company will post earnings per share of $1.45 for the quarter, up from their prior estimate of $0.72. KeyCorp currently has a "Overweight" rating and a $190.00 target price on the stock. The consensus estimate for Cirrus Logic's current full-year earnings is $8.05 per share. KeyCorp also issued estimates for Cirrus Logic's Q2 2027 earnings at $2.17 EPS, Q3 2027 earnings at $2.63 EPS, Q4 2027 earnings at $1.06 EPS, FY2027 earnings at $7.31 EPS, Q1 2028 earnings at $0.99 EPS, Q2 2028 earnings at $2.38 EPS, Q3 2028 earnings at $2.92 EPS, Q4 2028 earnings at $1.32 EPS and FY2028 earnings at $7.61 EPS.

A number of other research firms have also recently weighed in on CRUS. Jefferies Financial Group raised Cirrus Logic to a "buy" rating in a research report on Thursday, June 4th. Weiss Ratings restated a "hold (c+)" rating on shares of Cirrus Logic in a research note on Wednesday, June 24th. Barclays increased their price target on Cirrus Logic from $120.00 to $140.00 and gave the stock an "equal weight" rating in a report on Thursday, May 7th. Stifel Nicolaus set a $197.00 price objective on shares of Cirrus Logic in a research note on Thursday, May 7th. Finally, Zacks Research downgraded shares of Cirrus Logic from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 27th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $160.29.

Cirrus Logic Stock Down 1.5%

NASDAQ CRUS opened at $136.97 on Friday. Cirrus Logic has a 52-week low of $92.02 and a 52-week high of $180.42. The business's 50-day moving average price is $160.02 and its 200 day moving average price is $147.87. The firm has a market cap of $6.91 billion, a P/E ratio of 17.47 and a beta of 1.17.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The semiconductor company reported $1.95 earnings per share for the quarter, topping analysts' consensus estimates of $1.76 by $0.19. Cirrus Logic had a net margin of 20.75% and a return on equity of 20.48%. The firm had revenue of $448.52 million during the quarter, compared to analysts' expectations of $442.25 million. During the same quarter in the prior year, the business earned $1.67 EPS. Cirrus Logic's quarterly revenue was up 5.7% compared to the same quarter last year.

Institutional Investors Weigh In On Cirrus Logic

Hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada raised its holdings in Cirrus Logic by 92.3% during the first quarter. Royal Bank of Canada now owns 72,134 shares of the semiconductor company's stock worth $7,189,000 after purchasing an additional 34,629 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Cirrus Logic by 24.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,320 shares of the semiconductor company's stock valued at $132,000 after purchasing an additional 263 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Cirrus Logic by 4.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 214,457 shares of the semiconductor company's stock valued at $21,372,000 after buying an additional 9,658 shares in the last quarter. Focus Partners Wealth purchased a new position in shares of Cirrus Logic in the first quarter valued at $361,000. Finally, Geneos Wealth Management Inc. raised its stake in shares of Cirrus Logic by 95.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 476 shares of the semiconductor company's stock worth $47,000 after buying an additional 232 shares during the last quarter. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Jeffrey W. Baumgartner sold 1,458 shares of the business's stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $145.97, for a total transaction of $212,824.26. Following the sale, the executive vice president owned 16,405 shares of the company's stock, valued at approximately $2,394,637.85. The trade was a 8.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Alexander M. Davern sold 1,000 shares of the company's stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $159.00, for a total transaction of $159,000.00. Following the transaction, the director owned 20,531 shares in the company, valued at $3,264,429. The trade was a 4.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 22,299 shares of company stock valued at $3,581,647 in the last quarter. Corporate insiders own 1.20% of the company's stock.

Key Headlines Impacting Cirrus Logic

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

• Positive Sentiment: KeyCorp reiterated an Overweight rating and a $190 price target on Cirrus Logic, signaling continued confidence in the company’s longer-term earnings power and valuation. Cirrus Logic analyst estimates
• Positive Sentiment: KeyCorp raised its Q1 2027 EPS estimate to $1.45 from $0.72, suggesting a stronger near-term earnings outlook for Cirrus Logic. Cirrus Logic analyst estimates
• Positive Sentiment: Zacks highlighted Cirrus Logic’s expanding PC business, including SDCA adoption, mainstream design wins and AI-focused audio products, which could support growth in fiscal 2027. Zacks article on Cirrus Logic PC business
• Neutral Sentiment: KeyCorp left its full-year FY2028 EPS estimate at $7.61, indicating a steady long-term view rather than a major re-rating. Cirrus Logic analyst estimates
• Negative Sentiment: KeyCorp trimmed several forward estimates, including FY2027 EPS to $7.31 from $7.40, Q2 2028 EPS to $2.38 from $2.39, Q3 2027 EPS to $2.63 from $3.11, and Q4 2027 EPS to $1.06 from $1.37, which may pressure sentiment around near-term growth expectations. Cirrus Logic analyst estimates
• Negative Sentiment: A Seeking Alpha piece titled “Cirrus Logic’s Price Correction” suggests investors are still focused on the stock’s recent pullback and valuation reset. Seeking Alpha article on Cirrus Logic price correction

Cirrus Logic Company Profile

Cirrus Logic, Inc, headquartered in Austin, Texas, is a fabless semiconductor company specializing in high-precision analog and mixed-signal processing solutions. The firm develops low-power, high-performance audio, voice, and power management integrated circuits, serving prominent consumer electronics OEMs. Its semiconductor devices are designed to enhance audio quality, battery life, and system integration in mobile phones, tablets, wireless headsets and other portable devices.

The company's product portfolio includes digital-to-analog converters (DACs), analog-to-digital converters (ADCs), audio codecs, power management ICs, voice processors and integrated amplifiers.

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