Equities research analysts expect Cirrus Logic, Inc. (NASDAQ:CRUS – Get Rating) to announce $420.40 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Cirrus Logic’s earnings. The lowest sales estimate is $420.00 million and the highest is $421.21 million. Cirrus Logic reported sales of $293.54 million in the same quarter last year, which would suggest a positive year over year growth rate of 43.2%. The firm is scheduled to issue its next quarterly earnings results after the market closes on Monday, January 1st.
According to Zacks, analysts expect that Cirrus Logic will report full year sales of $1.71 billion for the current fiscal year. For the next financial year, analysts anticipate that the business will post sales of $1.78 billion, with estimates ranging from $1.73 billion to $1.86 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Cirrus Logic.
Cirrus Logic (NASDAQ:CRUS – Get Rating) last issued its quarterly earnings results on Monday, January 31st. The semiconductor company reported $2.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.92 by $0.36. Cirrus Logic had a return on equity of 19.14% and a net margin of 16.10%. The firm had revenue of $548.35 million during the quarter, compared to analyst estimates of $511.13 million. During the same period last year, the company earned $1.94 EPS.
Shares of NASDAQ CRUS traded down $1.21 during mid-day trading on Monday, reaching $75.80. The company had a trading volume of 450,342 shares, compared to its average volume of 349,205. The stock has a market cap of $4.34 billion, a price-to-earnings ratio of 17.63, a price-to-earnings-growth ratio of 1.92 and a beta of 0.88. Cirrus Logic has a 52 week low of $71.11 and a 52 week high of $95.84. The business’s 50-day moving average is $81.61 and its 200-day moving average is $83.79.
In related news, VP Carl Jackson Alberty sold 3,726 shares of the company’s stock in a transaction that occurred on Friday, February 18th. The stock was sold at an average price of $85.74, for a total value of $319,467.24. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Allan Hughes sold 36,112 shares of the firm’s stock in a transaction that occurred on Wednesday, February 9th. The stock was sold at an average price of $85.00, for a total transaction of $3,069,520.00. The disclosure for this sale can be found here. 1.83% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. grew its position in Cirrus Logic by 678.4% during the third quarter. Rockefeller Capital Management L.P. now owns 397 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 346 shares during the period. C M Bidwell & Associates Ltd. purchased a new position in Cirrus Logic in the 1st quarter valued at about $40,000. Nisa Investment Advisors LLC boosted its holdings in Cirrus Logic by 500.0% in the 1st quarter. Nisa Investment Advisors LLC now owns 480 shares of the semiconductor company’s stock worth $41,000 after buying an additional 400 shares during the last quarter. Edmond DE Rothschild Holding S.A. purchased a new stake in Cirrus Logic during the 4th quarter worth approximately $44,000. Finally, Covestor Ltd acquired a new position in shares of Cirrus Logic during the fourth quarter valued at approximately $59,000. Institutional investors own 87.81% of the company’s stock.
Cirrus Logic Company Profile (Get Rating)
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.
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