Cirrus Logic, Inc. (NASDAQ:CRUS) – Analysts at KeyCorp cut their Q3 2019 earnings per share (EPS) estimates for shares of Cirrus Logic in a research note issued on Monday, December 3rd. KeyCorp analyst J. Vinh now expects that the semiconductor company will post earnings of $0.64 per share for the quarter, down from their prior forecast of $1.00. KeyCorp also issued estimates for Cirrus Logic’s FY2019 earnings at $2.10 EPS.

CRUS has been the topic of several other research reports. BidaskClub downgraded Cirrus Logic from a “sell” rating to a “strong sell” rating in a research report on Thursday, October 4th. ValuEngine downgraded Cirrus Logic from a “hold” rating to a “sell” rating in a research report on Wednesday, September 12th. Cowen reaffirmed a “market perform” rating and issued a $42.00 price objective (down previously from $44.00) on shares of Cirrus Logic in a research report on Thursday, November 29th. Craig Hallum reaffirmed a “buy” rating and issued a $47.00 price objective (down previously from $51.00) on shares of Cirrus Logic in a research report on Friday, November 2nd. Finally, Barclays cut their price objective on Cirrus Logic from $32.00 to $30.00 and set an “underweight” rating on the stock in a research report on Friday, November 16th. Four analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $45.88.

Shares of Cirrus Logic stock opened at $37.98 on Thursday. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of 10.29, a price-to-earnings-growth ratio of 1.11 and a beta of 0.50. Cirrus Logic has a 52 week low of $34.49 and a 52 week high of $55.13.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings data on Thursday, November 1st. The semiconductor company reported $1.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.34. The company had revenue of $366.30 million for the quarter, compared to the consensus estimate of $330.27 million. Cirrus Logic had a return on equity of 15.55% and a net margin of 7.09%. Cirrus Logic’s quarterly revenue was down 13.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.36 EPS.

Hedge funds have recently modified their holdings of the business. grace capital purchased a new stake in shares of Cirrus Logic in the 2nd quarter worth $115,000. Bank of Montreal Can lifted its holdings in shares of Cirrus Logic by 88.7% in the 3rd quarter. Bank of Montreal Can now owns 3,388 shares of the semiconductor company’s stock worth $131,000 after buying an additional 1,593 shares during the period. First Hawaiian Bank purchased a new stake in shares of Cirrus Logic in the 3rd quarter worth $140,000. Itau Unibanco Holding S.A. lifted its holdings in shares of Cirrus Logic by 91.8% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 3,723 shares of the semiconductor company’s stock worth $143,000 after buying an additional 1,782 shares during the period. Finally, Virginia National Bank purchased a new stake in shares of Cirrus Logic in the 3rd quarter worth $220,000. Institutional investors and hedge funds own 90.44% of the company’s stock.

Cirrus Logic Company Profile

Cirrus Logic, Inc, a fabless semiconductor company, develops, manufactures, and markets analog and mixed-signal integrated circuits (ICs) for a range of consumer and industrial markets. The company offers portable and non-portable audio, and other products. Its products include analog and mixed-signal audio converters, and digital signal processing products for mobile applications; codecs-chips that integrate analog-to-digital converters and digital-to-analog converters into a single IC; smart codecs, a codec with digital signal processer; boosted amplifiers; micro-electromechanical systems microphones; digital interface products; and standalone digital signal processors.

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

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