Year-over-year growth is forecast to reach 2.20% up from the last financial year. will rise 57.40%, while the growth in revenue is estimated to hit -16.50% for the next quarter. The rating firms predict current quarter revenue for Cirrus Logic Inc. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2022 revenue estimates. As can be gleaned from the statistics, the company’s share value shot -24.23% over the past 6 months, a -20.87% in annual growth rate that is considerably lower than the industry average of 14.80%. share is performing relatively much not better than most of its peers within the same industry. (CRUS) estimates and forecastsĭata shows that the Cirrus Logic Inc. To hit the forecast high, the stock’s price needs a -72.27% plunge from its current level, while the stock would need to soar -14.84% for it to hit the projected low.
This change lagged the S&P 500s 0.71 gain on the day. According to analyst projections, CRUS’s forecast low is $80.00 with $120.00 as the target high. In the latest trading session, Cirrus Logic (CRUS) closed at 86.36, marking a -1.52 move from the previous day. The consensus price target for the stock as assigned by Wall Street analysts is $104.18, meaning bulls need an upside of 33.13% from its current market value. Cirrus Logic Inc.’s EPS for the current quarter is expected to be $0.85. Of the remaining, 2 recommended CRUS as a Hold, 9 felt it is a Buy and 1 rated the stock as Underweight. If you had invested in CIRRUS LOGIC stock at 10.63, your return over the last 24 years would have been 692.47, for an annualized return of 9. If we narrow down to specifics, the data shows that 0 out of 13 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. stock was originally listed at a price of 10.63 in Dec 31, 1997. (CRUS) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.20. When we look at Cirrus Logic Inc.’s average trading volume, we note the 3-month average coming to 441.95K.Īnalysts gave the Cirrus Logic Inc. The share price had its 52-week low at $70.11, which suggests the last value was -0.65% down since then. CRUS’s last price was a discount, traded about -37.58% off its 52-week high of $95.84. With the company’s per share price at $69.66 changed hands at -$2.88 or -3.97% during last session, the market valuation stood at $4.05B. (NASDAQ:CRUS) shares changed hands as the company’s beta touched 0.92. That compared with 630 worldwide and 445 in Austin at the end of December.Īlthough the company's audio business is expected to drive much of its near-term revenue growth, Rhode said that Cirrus also is working with makers of LED light bulbs to supply compatible dimmer technology that would enable new light bulbs to work in existing light sockets.In the last trading session, 0.39 million Cirrus Logic Inc. The average price target represents a 43.62 change from the last price of 69.63. The average price target is 100.00 with a high forecast of 120.00 and a low forecast of 80.00. The sale is expected to remove about $5 million in quarterly revenue and about 80 workers from Cirrus.Ĭirrus ended the past quarter with about 700 employees worldwide and 520 in Austin. Based on 7 Wall Street analysts offering 12 month price targets for Cirrus Logic in the last 3 months. We are very much in a talent- constrained situation right now," Rhode said.Ĭirrus also said it will sell some assets tied to its Apex Precision Power business in Tucson, Ariz., for about $26 million in the next 45 days.
We see a ton of new opportunities in front of us. "We need to make sure we are laying in enough engineers so we can keep growing off this higher (revenue base). The biggest challenge for the company, Rhode said, is finding enough skilled technical workers to work on new products including custom audio products. "They must have gotten a bigger piece of the pie," Moorhead said. That probably means, he said, that Cirrus is selling more chip content to its largest customer. Technology analyst Patrick Moorhead, with Moor Insights & Strategy, said Cirrus' projected revenue growth is higher than Apple's expected growth in the near future. The company also is completing work on a new audio amplifier chip that has not started shipment for revenue. The signal- processing chips can perform additional functions, such as canceling wind noise.
CIRRUS STOCK PORTABLE
Rhode did not comment on Apple but said that Cirrus is shipping increasing numbers of audio chips and programmable signal-processing chips to makers of portable products. But in after-hours trading after the new outlook was released, the stock was trading at $35.66 a share, up $5.82, or 19.5 percent.
Cirrus closed at $29.84 a share, up 88 cents, or 3 percent. The quarterly results were released after the close of the market on Monday. "The team's ability to formulate and execute a strategy is truly remarkable and gives us great confidence as we continue to increase our (research and development) investment in order to support our customers and pursue further growth opportunities."