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Cirrus Logic (CRUS) to Report Q1 Earnings: What to Expect?

Zacks Equity Research
·3 mins read

Cirrus Logic, Inc. CRUS is slated to release first-quarter fiscal 2021 results on Aug 3.

For the fiscal first quarter, the company expects revenues between $200 million and $250 million. The Zacks Consensus Estimate is pegged at $225.5 million, indicating a year-over-year decline of 5.3%.

The Zacks Consensus Estimate for quarterly earnings is pinned at 30 cents, suggesting a 14.3% decline, year on year.

The company’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average being 66.8%.

Cirrus Logic, Inc. Price and Consensus

Cirrus Logic, Inc. Price and Consensus
Cirrus Logic, Inc. Price and Consensus

Cirrus Logic, Inc. price-consensus-chart | Cirrus Logic, Inc. Quote

In the last reported quarter, it delivered non-GAAP earnings per share of 68 cents, which outpaced the Zacks Consensus Estimate of 47 cents as well as came in higher than the year-ago figure of 35 cents.

Total revenues of $279.3 million also surpassed the Zacks Consensus Estimate of $263 million and improved 16% year over year.

Let’s see how things have shaped up for the upcoming announcement.

Key Factors

Cirrus Logic’s fiscal first-quarter performance is likely to have benefited from robust demand for certain components. Solid customer engagement across its portfolio is anticipated to have been a tailwind as well.

Rising demand for the company’s products in applications such as tablets, laptops and digital headsets is likely to have been a consistent growth driver. Buoyant demand for smart codecs, boosted amplifiers and haptic drivers in the Android market is also expected to have been a key growth catalyst.

Nonetheless, Cirrus Logic quarterly performance might have been affected by the decline in smartphone volumes due to the pandemic-induced shift in demand.

Additionally, intense competition, adverse currency translations and a volatile macroeconomic environment were primary challenges for the company during the quarter under review.

What Our Model Says

Our proven model does not predict an earnings beat for Cirrus Logic this season. The combination of a positive Earnings ESP, and Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. But that’s not the case here. You can uncover the best stocks to buy or sell, before they’re reported, with our Earnings ESP Filter.

Cirrus Logic currently carries a Zacks Rank of 3 and has an Earnings ESP of 0.00%.

Stocks With Favorable Combinations

Here are some companies, which, per our model, have the right combination of elements to post an earnings beat this quarter:

TakeTwo Interactive Software TTWO has an Earnings ESP of +8.26% and carries a Zacks Rank of 2, at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

AMETEK Inc. AME has an Earnings ESP of +3.96% and carries a Zacks Rank of 2, currently.

KLA Corporation KLAC has an Earnings ESP of +0.67% and currently carries a Zacks Rank of 2.

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