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

Cirrus Logic

02/11/2023 21:03

* Cirrus Logic Inc  CRUS.OQ  reported quarterly adjusted
earnings
of $1.80​​ per share for the quarter ended in September, lower
than the same quarter last year, when the company reported EPS
of $1.99.  The mean expectation of eight analysts for the
quarter was for earnings of $1.54 per share. Wall Street
expected results to range from $1.42  to $1.57 per share.
    * Revenue fell 11% to $481.06 million from a year ago;
analysts
expected $457.49 million. 
    * Cirrus Logic Inc's reported EPS for the quarter was
$1.34​.
    * The company reported quarterly net income of $75.41
million.
    * Cirrus Logic Inc shares had fallen by 8.1% this
quarter and
lost 8.8% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 9.5%
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 $97.50 
This summary was machine generated from LSEG data November 2 at
09:02 p.m. UTC. ​All figures in US dollars unless otherwise
stated. QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Sep. 30 2023      1.54           1.80           Beat
 Jun. 30 2023      0.41           0.67           Beat
 Mar. 31 2023      0.84           0.92           Beat
 Dec. 31 2022      1.99           2.40           Beat