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Cirrus Logic, Inc. (CRUS) is a fabless semiconductor company.
The company develops, manufactures, and markets analog and mixed-signal integrated circuits (ICs) in the United States and internationally.
It offers portable products, including codecs-chips that integrate analog-to-digital converters (ADCs) and digital-to-analog converters (DACs) into a single IC; smart codecs, a codec with digital signal processer; boosted amplifiers; micro-electromechanical systems microphones; haptic drivers; digital signal processors; and SoundClear technology, which consists of a portfolio of tools, software, and algorithms that offer enhanced voice quality, voice capture, and audio playback features.
The company provides its portable products for use in smartphones, tablets, digital headsets, speakers, VR headsets, and action cameras; and wearables, such as smart watches and bands. It also offers non-portable and other products comprising codecs, ADCs, DACs, digital interfaces, and amplifiers for use in laptops, audio/video receivers, home theater systems, set-top boxes, musical instruments, and professional audio products; satellite radio systems, telematics, and multi-speaker car-audio systems; and high-precision industrial and energy-related applications, including digital utility meters, power supplies, energy control, energy measurement, and energy exploration applications.
The company markets and sells its products through direct sales force, external sales representatives, and distributors. The company is scheduled to report its results on October 30th. Ahead of that shares are on the cusp of a breakout. On July 30th, Cirrus reported 1st Quarter June 2019 earnings of $0.36 per share on revenue of $238.3 million. The consensus earnings estimate was $0.15 per share on revenue of $222.0 million. Revenue fell 6.4% compared to the same quarter a year ago.
The company said it expects second quarter revenue of $300.0 million to $340.0 million. The current consensus revenue estimate is $287.0 million for the quarter ending September 30, 2019.
Entry Point: $57.00
Trading Range: $31.25 to $60.00
Stop Loss: $54.15
Target Price: $62.70
CRUS closed at $63.40.
