Cirrus Logic (CRUS) reported quarterly earnings results on Tuesday, Apr-26-2016. The company said it had a profit of $0.38 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.17. Analysts had a consensus of $0.21. The company posted revenue of $232.00 million in the period, compared to analysts expectations of $226.24 million. The company’s revenue was down -9.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 EPS.
Many Wall Street Analysts have commented on Cirrus Logic. Topeka Capital Markets Initiated Cirrus Logic on Feb 26, 2016 to “Buy”, Price Target of the shares are set at $42.Oppenheimer Upgraded Cirrus Logic on Jan 28, 2016 to ” Outperform”, Price Target of the shares are set at $40.
Cirrus Logic closed down -0.02 points or -0.06% at $34.2 with 11,58,146 shares getting traded on Friday. Post opening the session at $33.8, the shares hit an intraday low of $33.3646 and an intraday high of $34.38 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Apr 5, 2016, William D Sherman (director) sold 270 shares at $37.15 per share price. According to the SEC, on Mar 7, 2016, Jason P Rhode (President & CEO) sold 50,000 shares at $36.05 per share price. On Feb 3, 2016, Scott Arnold Anderson (SVP & GM Mixed Signal Audio) sold 12,713 shares at $35.24 per share price, according to the Form-4 filing with the securities and exchange commission.
Cirrus Logic Inc. (Cirrus Logic) develops high-precision analog and mixed-signal integrated circuits (ICs) for a range of audio and energy markets. Cirrus Logic delivers products for consumer and professional audio automotive entertainment and targeted industrial applications including energy control energy measurement light emitting diode (LED) lighting and energy exploration. The Company also serves customers from sales offices in the United States Europe and Asia including the Peoples Republic of China Hong Kong South Korea Japan Singapore Taiwan and the United Kingdom. The Audio Products segment offers analog and mixed-signal audio converter and audio DSP products. The Energy Products provides high-precision analog and mixed-signal ICs for targeted energy control energy measurement LED lighting and energy exploration applications.