Zacks Research Lowers Earnings Estimates for Cirrus Logic

Cirrus Logic, Inc. (NASDAQ:CRUS) – Equities research analysts at Zacks Research dropped their Q2 2027 EPS estimates for Cirrus Logic in a report issued on Wednesday, August 26th. Zacks Research analyst Team now expects that the semiconductor company will earn $2.15 per share for the quarter, down from their prior forecast of $2.42. Zacks Research has a “Strong Sell” rating on the stock. The consensus estimate for Cirrus Logic’s current full-year earnings is $7.47 per share. Zacks Research also issued estimates for Cirrus Logic’s Q3 2027 earnings at $2.48 EPS, FY2027 earnings at $7.47 EPS, Q1 2028 earnings at $1.40 EPS, Q3 2028 earnings at $2.71 EPS, FY2028 earnings at $7.75 EPS, Q1 2029 earnings at $1.52 EPS and FY2029 earnings at $8.73 EPS.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results on Wednesday, August 5th. The semiconductor company reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.81 by $0.03. The business had revenue of $459.72 million for the quarter, compared to analyst estimates of $460.32 million. Cirrus Logic had a net margin of 21.00% and a return on equity of 20.61%. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.51 earnings per share.

Other research analysts also recently issued reports about the company. Weiss Ratings restated a “hold (c+)” rating on shares of Cirrus Logic in a research note on Wednesday, June 24th. KeyCorp decreased their price target on Cirrus Logic from $190.00 to $170.00 and set an “overweight” rating for the company in a research note on Thursday, August 6th. Jefferies Financial Group upgraded shares of Cirrus Logic to a “buy” rating in a report on Thursday, June 4th. Wall Street Zen lowered shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Stifel Nicolaus lowered their target price on shares of Cirrus Logic from $197.00 to $160.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cirrus Logic has a consensus rating of “Hold” and a consensus price target of $150.71.

Cirrus Logic Trading Up 0.5%

Shares of CRUS opened at $110.88 on Friday. The firm has a market cap of $5.56 billion, a PE ratio of 13.57 and a beta of 1.18. Cirrus Logic has a 12 month low of $108.81 and a 12 month high of $180.42. The stock has a fifty day moving average price of $134.99 and a 200-day moving average price of $147.78.

Institutional Investors Weigh In On Cirrus Logic

A number of institutional investors and hedge funds have recently modified their holdings of CRUS. HighTower Advisors LLC boosted its position in Cirrus Logic by 11.2% in the second quarter. HighTower Advisors LLC now owns 16,119 shares of the semiconductor company’s stock valued at $2,394,000 after buying an additional 1,619 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Cirrus Logic during the 2nd quarter worth approximately $4,410,000. California State Teachers Retirement System raised its position in Cirrus Logic by 14,777.9% during the 2nd quarter. California State Teachers Retirement System now owns 8,769,954 shares of the semiconductor company’s stock worth $1,302,601,000 after buying an additional 8,711,008 shares during the last quarter. Wedmont Private Capital lifted its stake in Cirrus Logic by 6.9% during the 2nd quarter. Wedmont Private Capital now owns 1,644 shares of the semiconductor company’s stock valued at $247,000 after acquiring an additional 106 shares during the period. Finally, AlphaGrep UK Ltd purchased a new stake in shares of Cirrus Logic in the 2nd quarter valued at $244,000. Institutional investors and hedge funds own 87.96% of the company’s stock.

Insider Buying and Selling

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 3,907 shares of Cirrus Logic stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $168.54, for a total transaction of $658,485.78. Following the completion of the sale, the executive vice president owned 17,575 shares of the company’s stock, valued at approximately $2,962,090.50. The trade was a 18.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Scott Thomas sold 1,300 shares of Cirrus Logic stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $180.04, for a total value of $234,052.00. Following the sale, the executive vice president directly owned 31,048 shares of the company’s stock, valued at approximately $5,589,881.92. This represents a 4.02% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 16,631 shares of company stock worth $2,536,629 in the last 90 days. Insiders own 1.20% of the company’s stock.

Cirrus Logic News Summary

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

• Positive Sentiment: Zacks raised its FY2029 EPS forecast to $8.73 from $8.58, suggesting some longer-term earnings potential despite the firm’s negative rating.
• Neutral Sentiment: The current-year consensus EPS estimate remains $7.47. Cirrus Logic’s most recent quarterly results were also relatively solid, with EPS of $1.84 versus the $1.81 consensus and revenue of $459.72 million, up 12.9% year over year.
• Negative Sentiment: Zacks reduced its FY2027 EPS estimate to $7.47 from $8.08, while cutting FY2028 EPS to $7.75 from $8.53. The revisions imply weaker expected profitability across the next two fiscal years.
• Negative Sentiment: Several quarterly forecasts were lowered: Q2 FY2027 EPS to $2.15 from $2.42, Q3 FY2027 to $2.48 from $2.76, Q1 FY2028 to $1.40 from $1.50, Q2 FY2028 to $2.21 from $2.42, Q4 FY2027 to $1.33 from $1.49, and Q4 FY2028 to $1.42 from $1.56.
• Negative Sentiment: The Q3 FY2028 EPS forecast was cut particularly sharply, to $2.71 from $3.04. Collectively, the estimate reductions are likely weighing on CRUS because they point to slower earnings growth and reinforce the bearish analyst stance.

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.