Cirrus Logic Q1 revenue hits record but slightly misses estimates

Cirrus Logic

05/08/2026 21:09

Overview
Mixed-signal chipmaker's fiscal Q1 revenue hit record but slightly missed analyst expectations
Adjusted EPS for fiscal Q1 beat analyst expectations
Company cites strong smartphone component demand and new product progress as key drivers

Outlook
Cirrus Logic expects Q2 FY27 revenue between $510 mln and $570 mln
Company forecasts Q2 FY27 GAAP gross margin of 52% to 54%
Non-GAAP operating expenses for Q2 FY27 anticipated at $140 mln to $146 mln

Result Drivers
SMARTPHONE DEMAND - Co said strong demand for custom components shipping into smartphones drove Q1 results
AI-ENABLED PC INTEREST - Co reported considerable customer interest in its latest smart codec for AI-enabled PCs
NEW PRODUCT DEVELOPMENT - Co taped out a new high-performance analog front-end component targeting metrology applications

Company press release: ID:nBw75Tk3Ra

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Slight Miss*
$460 mln
$460.30 mln (5 Analysts)
Q1 Adjusted EPS
Beat
$1.84
$1.81 (5 Analysts)
Q1 EPS
 
$1.47
 
Q1 Adjusted Operating Expenses
 
$135.42 mln
 
Q1 Operating Expenses
 
$157.41 mln
 
*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the semiconductors peer group is "buy"
Wall Street's median 12-month price target for Cirrus Logic, Inc. is $190.00, about 42.2% above its August 4 closing price of $133.59
The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 18 three months ago

Reuters Recommended Reads
Aug 4 - Lattice Semiconductor Q2 profit beats estimates on AI-related server demand
Aug 5 - Germany's Infineon Q3 revenue rises on strong AI data center demand

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)