$260.79 Million in Sales Expected for Cirrus Logic, Inc. (NASDAQ:CRUS) This Quarter

Friday, June 11, 2021 | MarketBeat

Wall Street analysts forecast that Cirrus Logic, Inc. (NASDAQ:CRUS) will report $260.79 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Cirrus Logic's earnings, with the highest sales estimate coming in at $262.38 million and the lowest estimate coming in at $260.00 million. Cirrus Logic posted sales of $242.57 million during the same quarter last year, which would indicate a positive year over year growth rate of 7.5%. The business is scheduled to announce its next quarterly earnings results on Monday, August 2nd.

On average, analysts expect that Cirrus Logic will report full year sales of $1.49 billion for the current fiscal year, with estimates ranging from $1.47 billion to $1.53 billion. For the next financial year, analysts expect that the business will post sales of $1.59 billion, with estimates ranging from $1.51 billion to $1.66 billion. Zacks Investment Research's sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Cirrus Logic.

Cirrus Logic (NASDAQ:CRUS) last posted its earnings results on Thursday, April 29th. The semiconductor company reported $0.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.71 by ($0.05). Cirrus Logic had a return on equity of 17.06% and a net margin of 15.87%. The business had revenue of $293.54 million for the quarter, compared to the consensus estimate of $301.05 million.

A number of equities analysts have weighed in on CRUS shares. KeyCorp reduced their price target on Cirrus Logic from $110.00 to $100.00 and set an "overweight" rating for the company in a research report on Thursday, May 6th. Needham & Company LLC raised Cirrus Logic from a "hold" rating to a "buy" rating and set a $100.00 price target for the company in a research report on Tuesday, May 4th. Finally, Westpark Capital started coverage on Cirrus Logic in a research report on Wednesday. They set a "buy" rating and a $95.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of "Buy" and an average price target of $98.00.

In other Cirrus Logic news, Director Timothy R. Dehne sold 1,000 shares of the stock in a transaction on Thursday, April 1st. The stock was sold at an average price of $86.77, for a total transaction of $86,770.00. Following the transaction, the director now 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 can be accessed through this link. Also, VP Andrew Brannan sold 7,553 shares of the stock in a transaction on Tuesday, May 4th. The stock was sold at an average price of $75.00, for a total value of $566,475.00. Following the transaction, the vice president now owns 5,593 shares in the company, valued at approximately $419,475. The disclosure for this sale can be found here. Company insiders own 2.04% of the company's stock.

A number of hedge funds have recently bought and sold shares of the business. Principal Financial Group Inc. increased its position in Cirrus Logic by 16.3% during the 1st quarter. Principal Financial Group Inc. now owns 199,597 shares of the semiconductor company's stock worth $16,924,000 after buying an additional 27,916 shares during the period. B. Metzler seel. Sohn & Co. Holding AG increased its position in Cirrus Logic by 43.2% during the 1st quarter. B. Metzler seel. Sohn & Co. Holding AG now owns 4,732 shares of the semiconductor company's stock worth $401,000 after buying an additional 1,428 shares during the period. Earnest Partners LLC increased its position in Cirrus Logic by 30.7% during the 1st quarter. Earnest Partners LLC now owns 472,446 shares of the semiconductor company's stock worth $40,059,000 after buying an additional 110,864 shares during the period. Paloma Partners Management Co bought a new position in Cirrus Logic during the 1st quarter worth $271,000. Finally, Millennium Management LLC increased its position in shares of Cirrus Logic by 115.6% in the first quarter. Millennium Management LLC now owns 707,267 shares of the semiconductor company's stock worth $59,969,000 after purchasing an additional 379,227 shares during the period. Hedge funds and other institutional investors own 84.56% of the company's stock.

NASDAQ CRUS opened at $79.25 on Friday. The business's 50 day simple moving average is $79.95. Cirrus Logic has a 52-week low of $55.30 and a 52-week high of $103.25. The company has a market cap of $4.56 billion, a PE ratio of 21.89, a price-to-earnings-growth ratio of 2.39 and a beta of 0.90.

Cirrus Logic Company Profile

Cirrus Logic, Inc, a fabless semiconductor company, provides low-power, high-precision mixed-signal processing solutions 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.

Featured Article: Basic Economics

Get a free copy of the Zacks research report on Cirrus Logic (CRUS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Cirrus Logic (NASDAQ:CRUS)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Featured Article: Environmental, Social, and Governance (ESG) Investing


7 Cryptocurrencies That Are Leading The Market Higher

An Influx Of Capital Is Driving Cryptocurrency Higher

There is an influx of money to the cryptocurrency market that is driving the entire complex higher. Not only is institutional interest peaking but recognition and use are on the rise as well. With Bitcoin setting new all-time highs 100% above the 2017 highs the number of new Bitcoin millionaires is on the rise too.

But Bitcoin is not the only cryptocurrency on the market today by far. The number of cryptocurrencies on the market has been growing steadily with more than 4,000 listed on Coinmarketcap alone. But that doesn’t mean they are all worth your time. Many if not most will not stand the test of time.

One way to judge the market’s interest in a cryptocurrency is its market performance gains. A cryptocurrency that is gaining in value is certainly one that you may want to own. The better method of judging the market’s interest in a cryptocurrency is the market cap. The cryptocurrency market is worth upwards of $1 trillion and growing, and most of that value is centered in the top seven. Together, the bottom 3,993 odd cryptocurrencies only account for 12% of the market and have yet to prove any lasting value.

View the "7 Cryptocurrencies That Are Leading The Market Higher".


MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

MarketBeat is accredited by the Better Business Bureau

© American Consumer News, LLC dba MarketBeat® 2010-2021. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information

© 2021 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research.