Cirrus Logic Inc reports results for the quarter ended in September 30 - Earnings Summary

Cirrus Logic

05/11/2024 07:45

* Cirrus Logic Inc  CRUS.OQ  reported quarterly adjusted
earnings
of $2.25​​ per share for the quarter ended September 30, higher
than the same quarter last year, when the company reported EPS
of $1.80.  The mean expectation of seven analysts for the
quarter was for earnings of $2.02 per share. Wall Street
expected results to range from $2.00  to $2.03 per share.
    * Revenue rose 12.6% to $541.86 million from a year ago;
analysts
expected $520.48 million. 
    * Cirrus Logic Inc's reported EPS for the quarter was
$1.83​.
    * The company reported quarterly net income of $102.14
million.
    * Cirrus Logic Inc shares had fallen by 10.9% this
quarter and
gained 33.0% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 10.8%
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 4 "strong buy" or "buy," 4
"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 $135.00 
This summary was machine generated from LSEG data November 5 at
07:45 a.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
 Sep. 30 2024      2.02           2.25           Beat
 Jun. 30 2024      0.61           1.12           Beat
 Mar. 31 2024      0.64           1.24           Beat
 Dec. 31 2023      2.01           2.89           Beat