Cirrus Logic Inc reports results for the quarter ended in January - Earnings Summary

Cirrus Logic

06/08/2024 23:00

* Cirrus Logic Inc  CRUS.OQ  reported quarterly adjusted
earnings
of $1.12​​ per share for the quarter ended in January, higher
than the same quarter last year, when the company reported EPS
of 67 cents.  The mean expectation of eight analysts for the
quarter was for earnings of 61 cents per share. Wall Street
expected results to range from 47 cents to 69 cents per share.
    * Revenue rose 18% to $374.03 million from a year ago;
analysts
expected $318.71 million. 
    * Cirrus Logic Inc's reported EPS for the quarter was 76
cents​.
    * The company reported quarterly net income of $42.1
million.
    * Cirrus Logic Inc shares had fallen by 11.6% this
quarter and
gained 35.7% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 8.3%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 6 "strong buy" or "buy," 3
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the
semiconductors peer
group is also "buy"

Wall Street's median 12-month price target for Cirrus Logic Inc
is $150.00 
This summary was machine generated from LSEG data August 6 at
10:00 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      0.61           1.12           Beat
 Mar. 31 2024      0.64           1.24           Beat
 Dec. 31 2023      2.01           2.89           Beat
 Sep. 30 2023      1.54           1.80           Beat