Cirrus Logic, Inc. (NASDAQ:CRUS) is reporting second quarter earnings results on Monday 2nd November 2020, after market close.
The consensus estimates from Thomson Reuters are income of $ 0.90 per share from $ 310.56 million in revenue.
For the full year, analysts predict revenues of $ 1186.39 million, while looking forward to income of $ 3.25 per share.
The Company Outlook
Revenue for 2Q21 are expected in a range of $ 290.00 million ~ $ 330.00 million
Click Here For More Historical Outlooks Of Cirrus Logic, Inc.
Previous Quarter Performance
Cirrus Logic, Inc. unveiled income for the first quarter of $ 0.53 per share, from the revenue of $ 242.57 million. The quarterly earnings increased 51.43 percent compared with the same quarter last year. According to street consensus, CRUS was expected to report 1Q21 income of $ 0.30 per share from revenue of $ 225.18 million. The bottom line results beat street analysts by $ 0.23 or 76.67 percent, at the same time, top line results outshined analysts by $ 17.39 million or 7.72 percent.
Stock Performance
On Friday, shares of Cirrus Logic, Inc. has traded high as $ 69.00 and has cracked $ 67.46 on the downward trend, reaching $ 68.87 with volume of 518.80 thousand shares.
According to the previous trading day, closing price of $ 68.87, representing a 48.00 % increase from the 52 week low of $ 47.04 and a 24.02 % decrease over the 52 week high of $ 91.63.
The company has a market capital of $ 4.02 billion and is part of the Technology sector and Semiconductors industry.
Recent Analyst recommendations
- On 14th September 2020, upgraded by Barclays to Equal-Weight from Underweight rating, with $ 65.00 target price.
- On 10th September 2020, upgraded by Craig Hallum to Buy from Hold rating.
Conference Call
Cirrus Logic, Inc. will be hosting a conference call at 5:00 PM eastern time on 2nd November 2020, to discuss its 2Q21 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.cirrus.com
Cirrus Logic, Inc., a fabless semiconductor company, develops, manufactures, and markets analog and mixed-signal integrated circuits (ICs) in the United States and internationally. It offers portable products, including codecs-chips that integrate analog-to-digital converters (ADCs) and digital-to-analog converters (DACs) into a single IC; smart codecs, a codec with digital signal processer; boosted amplifiers; micro-electromechanical systems microphones; haptic drivers; digital signal processors; and SoundClear technology, which consists of a portfolio of tools, software, and algorithms that offer enhanced voice quality, voice capture, and audio playback features. The company provides its portable products for use in smartphones, tablets, digital headsets, speakers, VR headsets, and action cameras; and wearables, such as smart watches and bands.
