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

Cirrus Logic

07/05/2024 23:41

* Cirrus Logic Inc  CRUS.OQ  reported quarterly adjusted
earnings
of $1.24​​ per share for the quarter ended in March, higher than
the same quarter last year, when the company reported EPS of 92
cents.  The mean expectation of eight analysts for the quarter
was for earnings of 64 cents per share. Wall Street expected
results to range from 48 cents to 70 cents per share.
    * Revenue fell 0.3% to $371.83 million from a year ago;
analysts
expected $316.52 million. 
    * Cirrus Logic Inc's reported EPS for the quarter was 81
cents​.
    * The company reported quarterly net income of $44.84
million.
    * Cirrus Logic Inc shares had fallen by 2.7% this
quarter and
gained 8.2% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 3.3%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 7 "strong buy" or "buy," 2
"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 $100.00 
This summary was machine generated from LSEG data May 7 at 10:41
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
 Mar. 31 2024      0.64           1.24           Beat
 Dec. 31 2023      2.01           2.89           Beat
 Sep. 30 2023      1.54           1.80           Beat
 Jun. 30 2023      0.41           0.67           Beat