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Cirrus Logic
(NASDAQ:CRUS)
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Rating:75Outperform
Price Target:
$150.00
▲(12.27% Upside)
Action:Reiterated
Date:08/06/26
The score is driven primarily by strong financial performance (profitability, cash generation, and low leverage) and a constructive earnings outlook despite some near-term operational headwinds. This is partially offset by weak technical conditions (below key moving averages with negative momentum) and only moderately supportive valuation based on the provided P/E.
Positive Factors
Cash generation & FCF conversion
Cirrus consistently converted earnings into cash in 2026, with FCF nearly matching net income. Durable high cash conversion funds R&D, buybacks, and working capital, reduces refinancing risk and provides flexibility to invest across product cycles while supporting returns to shareholders.
Negative Factors
Customer concentration
A material share of revenue ties to one large customer, limiting revenue visibility and increasing exposure to that customer's product cycles and design decisions. Limited disclosure on customer specifics makes assessing downside risk and revenue durability harder for long‑term planning.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation & FCF conversion
Cirrus consistently converted earnings into cash in 2026, with FCF nearly matching net income. Durable high cash conversion funds R&D, buybacks, and working capital, reduces refinancing risk and provides flexibility to invest across product cycles while supporting returns to shareholders.
Read all positive factors
Cirrus Logic Key Performance Indicators (KPIs)
Any
Revenue by Geography
Breaks down sales by region to show where the company earns most of its revenue and where demand is growing or weakening. Highlights geographic concentration risk, exposure to regional demand cycles in end markets like smartphones and consumer electronics, and potential currency or trade impacts.
Breaks down sales by region to show where the company earns most of its revenue and where demand is growing or weakening. Highlights geographic concentration risk, exposure to regional demand cycles in end markets like smartphones and consumer electronics, and potential currency or trade impacts.
Data provided by:
The Fly
The FlyCirrus Logic (CRUS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$6.53B
Dividend YieldN/A
Average Volume (3M)598.99K
Price to Earnings (P/E)16.0
Beta (1Y)1.22
Revenue Growth5.34%
EPS Growth29.84%
CountryUS
Employees1,668
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)8.10
Shares Outstanding50,452,717
10 Day Avg. Volume640,703
30 Day Avg. Volume598,991
Financial Highlights & Ratios
PEG Ratio0.59
Price to Book (P/B)3.42
Price to Sales (P/S)3.65
P/FCF Ratio11.45
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$174.25Price Target Upside30.42% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering5
EPS Forecast (FY)8.83
Revenue Forecast (FY)$2.10B
Cirrus Logic Business Overview & Revenue Model
Company Description
Cirrus Logic, Inc. (CRUS) is a semiconductor design firm that doesn't operate its own manufacturing plants. It specializes in crafting energy-efficient and highly accurate mixed-signal processing solutions for a worldwide customer base. The compan...
How the Company Makes Money
Cirrus Logic makes money mainly by selling mixed-signal semiconductor components (and, in some cases, accompanying software/firmware) to original equipment manufacturers (OEMs) and their manufacturing partners for inclusion in finished electronic ...
Cirrus Logic Earnings Call Summary
Earnings Call Date:Aug 05, 2026
(Q1-2027)
| % Change Since: |
Next Earnings Date:Nov 04, 2026
Earnings Call Sentiment Positive
The call presented multiple strong operational and financial highlights: record revenue and non‑GAAP EPS, healthy margins, a $1.2B cash position with no debt, active buybacks, a robust HPMS product pipeline, new product tape‑outs for smart meters, and a secured wafer supply agreement with GlobalFoundries. Offsetting these positives were timing headwinds in the PC business (supply constraints, memory shortages and OEM delays), sequential margin pressure related to anticipated pricing reductions and supply costs, a sequential inventory build (~110 days), and near‑term increases in OpEx as the company invests in R&D and supply‑chain tooling. Management framed many lowlights as timing or investment‑related rather than structural problems and provided constructive guidance for the next quarter. Overall, the positives — record results, strong cash and pipeline, and strategic supply agreements — appear to materially outweigh the transitory and timing challenges discussed.Positive Updates
Record Quarterly Revenue and Year-over-Year Growth
Reported record Q1 (June quarter) revenue of $460.0M, up 2% sequentially and 13% year-over-year, in line with the midpoint of guidance.
Negative Updates
Near-Term Weakness and Timing Delay in PC Business
Reduced expectations for the PC business this fiscal year due to three timing-related factors: constrained supply of a key industry platform, memory and component shortages with pricing pressure, and OEMs delaying new model introductions—pushing out higher‑content, higher‑volume designs.
Read all updates
Q1-2027 Updates
Positive
Negative
Record Quarterly Revenue and Year-over-Year Growth
Reported record Q1 (June quarter) revenue of $460.0M, up 2% sequentially and 13% year-over-year, in line with the midpoint of guidance.
Read all positive updates
Company Guidance
Guidance for Q2 fiscal 2027 calls for revenue of $510–$570 million, GAAP gross margin of 52%–54% (with a temporary benefit from a tranche of favorably priced wafers expected to largely sell through in Q2), non‑GAAP operating expense of $140–$146 million, and a fiscal‑year non‑GAAP effective tax rate of 16%–18%; management also reiterated that full‑year non‑GAAP OpEx will increase as it ramps R&D investment. For context, Cirrus delivered a record Q1 with revenue of $460M, GAAP EPS $1.47 and non‑GAAP EPS $1.84, non‑GAAP gross profit $242.1M (52.7% margin), non‑GAAP OpEx $135.4M, non‑GAAP operating income $106.7M (23.2% of revenue), non‑GAAP net income $96.1M and a Q1 non‑GAAP tax rate of 17.4%; balance sheet and cash metrics included $1.2B cash & investments, $262.7M inventory (~110 days), Q1 cash from operations $64.1M, CapEx $15.5M, Q1 non‑GAAP FCF margin 11% (TTM 28%), and $239.6M remaining on the buyback authorization after ~$85M of repurchases.Cirrus Logic Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
90
Very Positive
Cash Flow
88
Very Positive
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 2.00B | 1.90B | 1.79B | 1.90B | 1.78B |
| Gross Profit | 1.05B | 996.04M | 916.07M | 956.98M | 923.64M |
| EBITDA | 549.93M | 496.76M | 413.14M | 316.44M | 431.67M |
| Net Income | 414.41M | 331.51M | 274.57M | 176.70M | 326.36M |
Balance Sheet | |||||
| Total Assets | 2.49B | 2.33B | 2.23B | 2.06B | 2.12B |
| Cash, Cash Equivalents and Short-Term Investments | 887.63M | 595.78M | 526.54M | 480.76M | 380.42M |
| Total Debt | 133.98M | 143.72M | 155.22M | 141.07M | 177.84M |
| Total Liabilities | 361.38M | 377.62M | 414.56M | 405.68M | 523.58M |
| Stockholders Equity | 2.13B | 1.95B | 1.82B | 1.66B | 1.60B |
Cash Flow | |||||
| Free Cash Flow | 636.61M | 415.61M | 384.02M | 302.85M | 94.74M |
| Operating Cash Flow | 650.60M | 444.37M | 421.67M | 339.57M | 124.75M |
| Investing Cash Flow | -75.12M | -124.28M | -163.01M | -33.33M | -18.37M |
| Financing Cash Flow | -314.17M | -283.23M | -201.68M | -230.27M | -178.73M |
Cirrus Logic Technical Analysis
Negative
133.61
Price Trends
152.24
Negative
154.35
Negative
141.08
Negative
Market Momentum
-5.79
Negative
39.88
Neutral
28.88
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CRUS, the sentiment is Negative. The current price of 133.61 is below the 20-day moving average (MA) of 137.81, below the 50-day MA of 152.24, and below the 200-day MA of 141.08, indicating a bearish trend. The MACD of -5.79 indicates Negative momentum. The RSI at 39.88 is Neutral, neither overbought nor oversold. The STOCH value of 28.88 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CRUS.
Cirrus Logic Risk Analysis
Cirrus Logic disclosed 44 risk factors in its most recent earnings report. Cirrus Logic reported the most risks in the "Production" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Cirrus Logic Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $6.53B | 15.97 | 20.21% | ― | 5.34% | 29.84% | |
72 Outperform | $14.13B | -535.20 | -2.15% | ― | 65.19% | 73.74% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
61 Neutral | $12.39B | 22.26 | 12.37% | 0.51% | 17.93% | 82.27% | |
59 Neutral | $10.98B | -316.21 | -5.93% | ― | 14.22% | 81.01% | |
58 Neutral | $9.37B | 32.10 | 5.04% | 4.72% | 0.06% | -22.93% | |
57 Neutral | $7.73B | 543.19 | 1.48% | ― | 24.22% | ― |
* Technology Sector Average
CRUS
Cirrus Logic
129.42
32.17
33.08%
AMKR
Amkor
53.86
31.84
144.58%
SMTC
Semtech
121.25
70.28
137.89%
SWKS
Skyworks Solutions
66.99
1.63
2.50%
SITM
SiTime Corporation
543.12
332.42
157.77%
ALGM
Allegro MicroSystems
41.80
10.99
35.67%
Cirrus Logic Corporate Events
Business Operations and StrategyFinancial Disclosures
Cirrus Logic Reports Record Fiscal Q1 2027 Results
Positive
Aug 5, 2026
On August 5, 2026, Cirrus Logic reported record fiscal first quarter 2027 revenue of $459.7 million for the period ended June 27, 2026, alongside GAAP earnings per share of $1.47 and non-GAAP earnings per share of $1.84. Gross margin held at 52.6%...
Executive/Board ChangesShareholder Meetings
Cirrus Logic Stockholders Reaffirm Board and Governance Framework
Positive
Aug 3, 2026
At its Annual Meeting of Stockholders held on July 31, 2026, Cirrus Logic stockholders elected all seven director nominees, with each receiving a substantial majority of votes cast despite some variation in support levels. The election results rea...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Cirrus Logic Posts Record Fiscal 2026 Results, Provides Outlook
Positive
May 6, 2026
On May 4, 2026, Cirrus Logic entered into a third amended and restated credit agreement establishing a $350 million senior secured revolving credit facility maturing in 2031, guaranteed by material domestic subsidiaries and secured by substantiall...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.