Cirrus Logic (CRUS)
NASDAQ:CRUS
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Cirrus Logic
(NASDAQ:CRUS)
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Rating:83Outperform
Price Target:
$200.00
▲(19.19% Upside)
Action:Reiterated
Date:05/08/26
The score is driven primarily by strong financial performance (improving margins, low leverage, and robust free cash flow) and supportive technicals (clear multi-timeframe uptrend with constructive momentum). The earnings call adds a positive tilt via record FY26 performance and growth-oriented FY27 guidance, while valuation (P/E 22.27 and no dividend yield provided) is the main moderating factor alongside noted volatility and inventory/OpEx risks.
Positive Factors
Strong free cash flow generation
High and high-quality free cash flow (FCF ~$636.6M, ~98% of net income) provides durable funding for R&D, share repurchases, and working capital. Reliable FCF reduces external financing needs and supports capital allocation through semiconductor cycles, strengthening long-term financial resilience.
Negative Factors
Customer concentration risk
A substantial portion of revenue remains tied to a small number of large OEMs historically, magnifying exposure to customer product cycles, design-win outcomes, and pricing negotiations. This concentration makes long-term revenue and planning sensitive to a few counterparties' choices.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong free cash flow generation
High and high-quality free cash flow (FCF ~$636.6M, ~98% of net income) provides durable funding for R&D, share repurchases, and working capital. Reliable FCF reduces external financing needs and supports capital allocation through semiconductor cycles, strengthening long-term financial resilience.
Read all positive factors
Cirrus Logic Key Performance Indicators (KPIs)
Any
Revenue by Geography
Shows where sales come from around the world, revealing geographic dependence and exposure to local demand cycles or trade risks. For Cirrus Logic, a heavy concentration in Asia (driven by smartphone and consumer electronics supply chains) can mean faster swings with handset demand or regional slowdowns, while growth in North America, Europe, or automotive markets would signal diversification and more stable long-term demand.
Shows where sales come from around the world, revealing geographic dependence and exposure to local demand cycles or trade risks. For Cirrus Logic, a heavy concentration in Asia (driven by smartphone and consumer electronics supply chains) can mean faster swings with handset demand or regional slowdowns, while growth in North America, Europe, or automotive markets would signal diversification and more stable long-term demand.
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The Fly
The FlyCirrus Logic (CRUS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$8.34B
Dividend YieldN/A
Average Volume (3M)578.30K
Price to Earnings (P/E)20.3
Beta (1Y)1.17
Revenue Growth5.34%
EPS Growth29.84%
CountryUS
Employees1,609
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)8.10
Shares Outstanding50,452,717
10 Day Avg. Volume531,544
30 Day Avg. Volume578,296
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 Cap0.89
Enterprise Value/Revenue3.71
Enterprise Value/Gross Profit7.04
Enterprise Value/Ebitda13.49
Forecast
1Y Price Target
$179.00Price Target Upside6.67% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)8.9
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 primarily by selling its semiconductor products (ICs) to electronics OEMs and their manufacturing partners, recognizing revenue from the shipment of these components. The company’s core revenue stream has historically been...
Cirrus Logic Earnings Call Summary
Earnings Call Date:May 06, 2026
(Q4-2026)
| % Change Since: |
Next Earnings Date:Aug 05, 2026
Earnings Call Sentiment Positive
The call presented a largely positive picture: record annual revenue and earnings, strong cash generation, product momentum across smartphones, PC and new markets, and meaningful progress on manufacturing diversification. Short-term headwinds were acknowledged — a sharp sequential Q4 revenue decline (-23%), a Q4 margin impact from higher freight, rising inventory and planned increases in R&D/OpEx — but management framed these as manageable and tied to strategic investments and seasonality. Given the combination of record financial results, strong pipeline and deliberate investment for growth, the positives notably outweigh the negatives.Positive Updates
Record Annual Revenue
Fiscal year 2026 revenue of $2.0 billion, up 5% year-over-year, marking a record for the company driven by smartphone components and higher PC sales.
Negative Updates
Quarterly Sequential Revenue Decline
Q4 revenue declined 23% sequentially, primarily due to lower smartphone unit volumes, indicating short-term seasonality and sensitivity to handset demand.
Read all updates
Q4-2026 Updates
Positive
Negative
Record Annual Revenue
Fiscal year 2026 revenue of $2.0 billion, up 5% year-over-year, marking a record for the company driven by smartphone components and higher PC sales.
Read all positive updates
Company Guidance
Cirrus guided Q1 FY2027 revenue of $430M–$490M (midpoint $460M), implying roughly a 3% sequential increase and ~13% year‑over‑year growth at the midpoint; non‑GAAP gross margin is expected to be 51%–53%; non‑GAAP operating expense is forecast at $132M–$138M (up sequentially, largely due to increased R&D) and management said FY‑27 OpEx will rise as R&D is increased; the non‑GAAP tax rate is expected to be about 16%–18%. For context, FY‑26 was a record year with $2.0B revenue, FY‑26 non‑GAAP gross margin of 52.8%, non‑GAAP operating income of $548.8M (27.5% operating margin), and FY‑26 non‑GAAP net income of $489.3M (EPS $9.26).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
Positive
167.80
Price Trends
166.53
Negative
152.95
Positive
137.80
Positive
Market Momentum
-0.91
Positive
49.75
Neutral
35.47
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CRUS, the sentiment is Positive. The current price of 167.8 is below the 20-day moving average (MA) of 167.91, above the 50-day MA of 166.53, and above the 200-day MA of 137.80, indicating a neutral trend. The MACD of -0.91 indicates Positive momentum. The RSI at 49.75 is Neutral, neither overbought nor oversold. The STOCH value of 35.47 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
83 Outperform | $8.34B | 20.27 | 20.21% | ― | 5.34% | 29.84% | |
77 Outperform | $19.24B | -792.16 | -2.15% | ― | 65.19% | 73.74% | |
71 Outperform | $10.99B | -733.92 | -1.57% | ― | 22.77% | 79.17% | |
70 Outperform | $22.42B | 51.35 | 9.96% | 0.81% | 12.71% | 37.49% | |
69 Neutral | $14.74B | -442.41 | -5.93% | ― | 14.22% | 81.01% | |
63 Neutral | $10.90B | 30.15 | 6.30% | 4.37% | 2.33% | -6.12% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
* Technology Sector Average
CRUS
Cirrus Logic
165.29
59.63
56.44%
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SITM
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729.04
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213.78%
ALGM
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27.12
85.07%
Cirrus Logic Corporate Events
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...
Business Operations and StrategyExecutive/Board Changes
Cirrus Logic Streamlines Finance Leadership, Expands CFO Role
Neutral
Mar 31, 2026
Effective March 25, 2026, Cirrus Logic, Inc. consolidated its top finance and accounting responsibilities as Chief Financial Officer Jeff Woolard also assumed the role of Principal Accounting Officer. The prior Principal Accounting Officer, Ulf Ha...
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.