Cirrus Logic (CRUS)
NASDAQ:CRUS
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Cirrus Logic
(NASDAQ:CRUS)
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Rating:83Outperform
Price Target:
$186.00
▲(15.46% Upside)
Action:ReiteratedDate:02/05/26
The score is driven primarily by strong financial performance (high margins, strong cash conversion, and low leverage) and supportive technical momentum (price above key moving averages with positive MACD). Offsetting this are moderate valuation support (no dividend, mid-range P/E) and earnings-call risks centered on extreme customer concentration and a sharply lower next-quarter revenue guide.
Positive Factors
High profit margins
Sustained high gross and net margins reflect strong product differentiation and pricing power in mixed-signal audio ICs. These margins enable durable operating leverage, funding R&D and capex while supporting consistent profitability through semiconductor cycles.
Negative Factors
Extreme customer concentration
Dependence on one customer creates outsized revenue and negotiating-risk: product wins or design decisions by that customer drive large swings in revenue and margin. This structural concentration limits predictability and exposes results to an external partner's product cycles.
Read all positive and negative factors
Positive Factors
Negative Factors
High profit margins
Sustained high gross and net margins reflect strong product differentiation and pricing power in mixed-signal audio ICs. These margins enable durable operating leverage, funding R&D and capex while supporting consistent profitability through semiconductor cycles.
Read all positive factors
Cirrus Logic (CRUS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$8.16B
Dividend YieldN/A
Average Volume (3M)579.95K
Price to Earnings (P/E)11.0
Beta (1Y)1.29
Revenue Growth2.19%
EPS Growth19.22%
CountryUS
Employees1,609
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)2.97
Shares Outstanding51,007,390
10 Day Avg. Volume581,687
30 Day Avg. Volume579,949
Financial Highlights & Ratios
PEG Ratio0.68
Price to Book (P/B)2.71
Price to Sales (P/S)2.79
P/FCF Ratio12.72
Enterprise Value/Market Cap0.94
Enterprise Value/Revenue3.90
Enterprise Value/Gross Profit7.38
Enterprise Value/Ebitda14.77
Forecast
1Y Price Target
$150.50Price Target Upside-6.58% Downside
Rating ConsensusModerate Buy
Number of Analyst Covering7
EPS Forecast (FY)8.74
Revenue Forecast (FY)$2.06B
Cirrus Logic Business Overview & Revenue Model
Company Description
Cirrus Logic, Inc., a fabless semiconductor company, provides low-power and high-precision mixed-signal processing solutions in the United States and internationally. It offers portable products, including codecs components that integrate analog-t...
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 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.
Data provided by:
The Fly
The FlyCirrus Logic Earnings Call Summary
Earnings Call Date:Feb 03, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:May 06, 2026
Earnings Call Sentiment Positive
The call presented strong, tangible financial and operational traction: a revenue beat, record EPS, robust cash generation, margin improvement sequentially, meaningful progress ramping new PC and other market products, and a healthy balance sheet. Offsetting these positives are material risks and near-term headwinds including very high customer concentration (~94%), weaker general market sales (partly from a strategic pullback from Android and end-of-life product unwind), anticipated pricing pressure that compressed YoY margins (~50 bps), and a significant drop implied by Q4 guidance (midpoint down ~24% QoQ). On balance, the company demonstrated strong execution and momentum while also signaling concentrated customer exposure and near-term seasonality/transition risks.Positive Updates
Revenue Beat and Growth
Q3 revenue of $580.6M, above the top end of guidance; revenue up 4% sequentially and up 4% year-over-year, driven by stronger-than-expected smartphone unit volumes and favorable mix.
Negative Updates
High Customer Concentration
Largest customer represented roughly 94% of the company's mix in the quarter, creating material revenue concentration and associated dependency risk.
Read all updates
Q3-2026 Updates
Positive
Negative
Revenue Beat and Growth
Q3 revenue of $580.6M, above the top end of guidance; revenue up 4% sequentially and up 4% year-over-year, driven by stronger-than-expected smartphone unit volumes and favorable mix.
Read all positive updates
Company Guidance
For Q4 fiscal 2026 the company guided revenue of $410 million to $470 million, GAAP gross margin of 51% to 53%, non‑GAAP operating expense of $124 million to $130 million, and a fiscal‑year 2026 non‑GAAP effective tax rate of 16% to 18%; management also limited guidance to the next quarter and indicated no material change to historical seasonality.Cirrus Logic Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
90
Very Positive
Cash Flow
88
Very Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.97B | 1.90B | 1.79B | 1.90B | 1.78B | 1.37B |
| Gross Profit | 1.04B | 996.04M | 916.07M | 956.98M | 923.64M | 707.30M |
| EBITDA | 521.26M | 496.76M | 413.14M | 316.44M | 431.67M | 285.70M |
| Net Income | 403.87M | 331.51M | 274.57M | 176.70M | 326.36M | 217.34M |
Balance Sheet | ||||||
| Total Assets | 2.46B | 2.33B | 2.23B | 2.06B | 2.12B | 1.83B |
| Cash, Cash Equivalents and Short-Term Investments | 822.36M | 595.78M | 526.54M | 480.76M | 380.42M | 497.86M |
| Total Debt | 254.91M | 143.72M | 155.22M | 141.07M | 177.84M | 142.46M |
| Total Liabilities | 353.29M | 377.62M | 414.56M | 405.68M | 523.58M | 441.61M |
| Stockholders Equity | 2.10B | 1.95B | 1.82B | 1.66B | 1.60B | 1.39B |
Cash Flow | ||||||
| Free Cash Flow | 614.54M | 415.61M | 384.02M | 302.85M | 94.74M | 330.69M |
| Operating Cash Flow | 629.57M | 444.37M | 421.67M | 339.57M | 124.75M | 348.94M |
| Investing Cash Flow | -33.82M | -124.28M | -163.01M | -33.33M | -18.37M | -77.67M |
| Financing Cash Flow | -344.10M | -283.23M | -201.68M | -230.27M | -178.73M | -121.22M |
Cirrus Logic Technical Analysis
Positive
161.10
Price Trends
140.56
Positive
131.24
Positive
123.52
Positive
Market Momentum
5.00
Negative
70.83
Negative
93.41
Negative
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 161.1 is above the 20-day moving average (MA) of 143.73, above the 50-day MA of 140.56, and above the 200-day MA of 123.52, indicating a bullish trend. The MACD of 5.00 indicates Negative momentum. The RSI at 70.83 is Negative, neither overbought nor oversold. The STOCH value of 93.41 is Negative, 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 | $8.16B | 10.99 | 20.13% | ― | 2.19% | 19.22% | |
68 Neutral | $14.33B | 26.10 | 8.73% | 0.81% | 0.13% | -16.17% | |
68 Neutral | $11.05B | -205.54 | -4.23% | ― | 59.04% | 28.50% | |
66 Neutral | $6.95B | 149.88 | -1.40% | ― | -7.23% | -15.69% | |
64 Neutral | $8.48B | 30.39 | 6.83% | 4.37% | -2.18% | -16.84% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
55 Neutral | $7.92B | -177.61 | -7.22% | ― | 20.60% | ― |
* Technology Sector Average
CRUS
Cirrus Logic
161.10
73.69
84.30%
AMKR
Amkor
60.44
43.66
260.17%
SMTC
Semtech
91.83
64.83
240.11%
SWKS
Skyworks Solutions
56.50
1.19
2.16%
SITM
SiTime Corporation
447.08
309.84
225.77%
ALGM
Allegro MicroSystems
38.04
16.03
72.83%
Cirrus Logic Corporate Events
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...
Business Operations and StrategyFinancial Disclosures
Cirrus Logic Posts Strong Q3 Results, Guides Lower Q4
Positive
Feb 3, 2026
On February 3, 2026, Cirrus Logic reported financial results for its third quarter of fiscal 2026, which ended on December 27, 2025, posting revenue of $580.6 million, above the high end of its guidance, driven by stronger-than-expected demand for...
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.