Cirrus Logic Inc Stock Research

Market Summary

USD77.52-1.14

Market Closed

-1.45%

CRUS Stock Price

CRUS RSI Chart

CRUS Valuation

Market Cap

4.3B

Price/Earnings (Trailing)

13.1

Price/Sales (Trailing)

2.13

EV/EBITDA

7.83

Price/Free Cashflow

8.27

CRUS Price/Sales (Trailing)

CRUS Profitability

EBT Margin

20.91%

Return on Equity

19.04%

Return on Assets

15.09%

Free Cashflow Yield

12.09%

CRUS Fundamentals

CRUS Revenue

Revenue (TTM)

2.0B

Revenue Y/Y

7.7%

Revenue Q/Q

9.25%

CRUS Earnings

Earnings (TTM)

326.8M

Earnings Y/Y

-18.93%

Earnings Q/Q

18.68%

Price Action

52 Week Range

61.94111.15

(Low)(High)

Last 7 days

2.3%

Last 30 days

-9.6%

Last 90 days

-24.9%

Trailing 12 Months

-4.7%

CRUS Financial Health

Current Ratio

4.43

CRUS Investor Care

Buy Backs (1Y)

3.39%

Diluted EPS (TTM)

5.68

Peers (Alternatives to Cirrus Logic)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
NVDA	989.1B	27.0B	44.55%	113.39%	226.45	36.67	0.22%	-55.21%
AVGO	335.0B	34.4B	28.23%	42.22%	26.18	9.73	20.74%	63.44%
AMD	201.6B	23.1B	40.17%	22.50%	510.28	8.74	22.20%	-88.36%
TXN	160.1B	19.5B	5.59%	0.65%	19.4	8.21	2.86%	0.47%
INTC	124.6B	56.4B	-3.44%	-30.24%	-43.6	2.21	-27.40%	-111.60%
FSLR	21.6B	2.8B	10.86%	181.07%	519.12	7.72	12.61%	-80.70%
LSCC	11.6B	705.3M	5.93%	61.19%	57.94	16.48	26.82%	69.83%
MID-CAP
AMKR	6.2B	7.0B	13.41%	23.45%	9.73	0.89	8.70%	-7.69%
POWI	5.1B	575.3M	21.48%	4.10%	38.47	8.79	-19.17%	-23.05%
SMALL-CAP
SGH	1.1B	1.8B	49.16%	-7.63%	50.89	0.63	-1.63%	-39.40%
ICHR	904.1M	1.2B	11.81%	0.45%	13.96	0.75	7.76%	0.72%
AOSL	780.3M	723.8M	17.29%	-39.11%	27.32	1.08	-4.88%	-93.76%
CEVA	568.3M	129.0M	-3.42%	-34.65%	-21.56	4.41	-2.05%	-1231.29%
MX	425.5M	290.6M	12.50%	-49.19%	-10.9	1.46	-36.18%	-152.96%

Financials for Cirrus Logic

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	2.1%	2,015	1,973	1,898	1,781	1,585
Gross Profit	0.7%	1,029	1,022	986	924	813
Operating Expenses	1.7%	610	600	585	557	530
S&GA Expenses	-0.6%	155	156	154	151	145
R&D Expenses	2.5%	455	444	430	406	385
EBITDA	-0.5%	491	494	472	432	-
EBITDA Margin	-2.6%	0.24*	0.25*	0.25*	0.24*	-
Earnings Before Taxes	-0.8%	421	425	404	369	289
EBT Margin	-2.9%	0.21*	0.22*	0.21*	0.21*	-
Interest Expenses	0%	1.00	1.00	1.00	1.00	1.00
Net Income	-6.9%	327	351	349	326	255
Net Income Margin	-8.8%	0.16*	0.18*	0.18*	0.18*	-
Free Cahsflow	153.4%	518	204	204	99.00	-

Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	0.1%	2,166	2,164	2,106	2,123	2,068
Current Assets	6.0%	1,013	957	861	840	764
Cash Equivalents	22.4%	435	355	379	370	195
Inventory	-7.4%	152	165	174	138	149
Net PPE	-1.3%	157	159	157	157	157
Goodwill	0%	436	436	436	436	438
Current Liabilities	-19.1%	229	282	253	265	240
Shareholder's Equity	3.7%	1,716	1,655	1,599	1,600	1,563
Retained Earnings	97.6%	81.00	41.00	6.00	23.00	6.00
Additional Paid-In Capital	1.3%	1,639	1,618	1,597	1,578	1,557
Shares Outstanding	-0.9%	55.00	56.00	56.00	57.00	57.00

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	136.1%	550	233	226	125	39.00
Share Based Compensation	3.6%	76.00	73.00	70.00	66.00	64.00
Cashflow From Investing	-5.7%	-33.00	-31.22	-9.37	-18.37	-18.11
Cashflow From Financing	-18.8%	-277	-233	-222	-178	-153
Buy Backs	4.5%	231	221	211	168	137

Risks for CRUS

What is the probability of a big loss on CRUS?

95.8%

Probability that Cirrus Logic stock will be more than 20% underwater in next one year

35%

Probability that Cirrus Logic stock will be more than 30% underwater in next one year.

1.5%

Probability that Cirrus Logic stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does CRUS drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Cirrus Logic was unfortunately bought at previous high price.

Drawdowns

Returns for CRUS

Cumulative Returns on CRUS

15.6%

10-Year Cumulative Returns

11.6%

7-Year Cumulative Returns

15.6%

5-Year Cumulative Returns

2.3%

3-Year Cumulative Returns

What are the long-term rolling returns for CRUS?

FIve years rolling returns for Cirrus Logic.

Annualized Returns

Which funds bought or sold CRUS recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-05-26	ProShare Advisors LLC	reduced	-19.5	123,840	803,396	-%
2023-05-23	Toroso Investments, LLC	new	-	1,334,000	1,334,000	0.02%
2023-05-23	ROYCE & ASSOCIATES LP	reduced	-8.14	14,026,700	54,208,200	0.54%
2023-05-22	AMERIPRISE FINANCIAL INC	reduced	-13.43	15,015,800	70,369,800	0.02%
2023-05-22	EMC Capital Management	unchanged	-	75,000	233,000	0.20%
2023-05-18	JPMORGAN CHASE & CO	added	14.35	9,459,000	23,379,000	-%
2023-05-18	NEW YORK STATE COMMON RETIREMENT FUND	reduced	-3.35	1,851,000	6,265,000	0.01%
2023-05-17	Advisory Services Network, LLC	added	118	189,329	274,981	0.01%
2023-05-17	Thrivent Financial for Lutherans	reduced	-0.57	503,000	1,595,000	-%
2023-05-17	VIRGINIA RETIREMENT SYSTEMS ET AL	added	573	12,211,000	14,151,200	0.15%

Latest Funds Activity

Are funds buying CRUS calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own CRUS

No. of Funds

Cirrus Logic News

Schedule 13G FIlings of Cirrus Logic

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 09, 2023	fmr llc	-	0	SC 13G/A
Feb 09, 2023	vanguard group inc	11.08%	6,098,661	SC 13G/A
Jan 27, 2023	mackenzie financial corp	5.25%	2,891,480	SC 13G/A
Jan 24, 2023	blackrock inc.	9.9%	5,477,090	SC 13G
Feb 14, 2022	whale rock capital management llc	0%	0	SC 13G/A
Feb 09, 2022	fmr llc	-	0	SC 13G/A
Feb 09, 2022	vanguard group inc	10.10%	5,771,206	SC 13G/A
Jan 27, 2022	blackrock inc.	10.3%	5,910,845	SC 13G/A
Jan 25, 2022	blackrock inc.	10.3%	5,910,845	SC 13G/A
Feb 12, 2021	whale rock capital management llc	5.19%	3,005,710	SC 13G/A

CRUS Fair Value

Show Fair-Value

Recent SEC filings of Cirrus Logic

View All Filings

Date Filed	Form Type	Document
May 25, 2023	SD	SD
May 24, 2023	8-K	Current Report
May 19, 2023	10-K	Annual Report
May 08, 2023	4	Insider Trading
May 04, 2023	8-K	Current Report
Apr 10, 2023	4	Insider Trading
Mar 31, 2023	4	Insider Trading
Mar 28, 2023	8-K	Current Report
Mar 22, 2023	8-K	Current Report
Mar 08, 2023	8-K	Current Report

Latest Insider Trading transactions for CRUS

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-05-04	Nathamuni Venkatesh	acquired	-	-	3,421	chief financial officer
2023-05-04	Nathamuni Venkatesh	sold (taxes)	-69,222	83.00	-834	chief financial officer
2023-04-06	Grode Denise	acquired	-	-	2,947	chief human resources officer
2023-04-06	Grode Denise	sold (taxes)	-75,924	102	-739	chief human resources officer
2023-03-30	THOMAS SCOTT	acquired	560,764	54.65	10,261	sr vp, general counsel &
2023-03-30	THOMAS SCOTT	sold	-1,125,120	109	-10,261	sr vp, general counsel &
2023-02-13	DAVERN ALEXANDER M	sold	-	-	-1,000	-
2023-02-09	ANDERSON SCOTT ARNOLD	sold	-3,079,480	105	-29,229	sr vp, supply chain
2023-02-09	ANDERSON SCOTT ARNOLD	acquired	1,129,910	44.01	25,674	sr vp, supply chain
2023-02-08	Alberty Carl Jackson	acquired	122,475	44.1829	2,772	vp, msp

About Cirrus Logic

John Forsyth

www.cirrus.com

1480

Cirrus Logic, Inc., a fabless semiconductor company, provides low-power, high-precision mixed-signal processing solutions 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's audio products are used in smartphones, tablets, wireless headsets, laptops, AR/VR headsets, home theater systems, automotive entertainment systems, and professional audio systems. It also offers high-performance mixed-signal products, such as haptic driver and sensing solutions, camera controllers, and power-related components used in various industrial and energy applications comprising digital utility meters, power supplies, energy control, energy measurement, and energy exploration. The company markets and sells its products through direct sales force, external sales representatives, and distributors. Cirrus Logic, Inc. was incorporated in 1984 and is headquartered in Austin, Texas.

CRUS Income Statement

2023-03-25

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Mar. 25, 2023	Mar. 26, 2022	Mar. 27, 2021
Income Statement [Abstract]
Net sales	$ 1,897,617	$ 1,781,460	$ 1,369,230
Cost of sales	940,638	857,819	661,929
Gross profit	956,979	923,641	707,301
Operating expenses
Research and development	458,412	406,307	342,759
Selling, general and administrative	153,144	150,996	127,008
Lease impairments and restructuring	10,632	0	352
Intangibles impairment	85,760	0	0
Total operating expenses	707,948	557,303	470,119
Income from operations	249,031	366,338	237,182
Interest income	9,985	1,563	6,281
Interest expense	(898)	(948)	(1,057)
Other income (expense)	(3,379)	1,710	2,840
Income before income taxes	254,739	368,663	245,246
Provision for income taxes	78,036	42,308	27,902
Net income	$ 176,703	$ 326,355	$ 217,344
Basic earnings per share (in dollars per share)	$ 3.18	$ 5.70	$ 3.74
Diluted earnings per share (in dollars per share)	$ 3.09	$ 5.52	$ 3.62
Basic weighted average common shares outstanding (in shares)	55,614	57,278	58,106
Diluted weighted average common shares outstanding (in shares)	57,226	59,143	60,060

CRUS Balance Sheet

2023-03-25

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 25, 2023	Mar. 26, 2022
Current assets:
Cash and cash equivalents	$ 445,784	$ 369,814
Marketable securities	34,978	10,601
Accounts receivable, net	150,473	240,264
Inventories	233,450	138,436
Prepaid assets	35,507	40,822
Prepaid wafers	60,638	0
Other current assets	57,026	40,078
Total current assets	1,017,856	840,015
Long-term marketable securities	36,509	63,749
Right-of-use lease assets	128,145	171,003
Property and equipment, net	162,972	157,077
Intangibles, net	38,876	158,145
Goodwill	435,936	435,791
Deferred tax assets	35,580	11,068
Long-term prepaid wafers	134,363	195,000
Other assets	73,729	91,552
Total assets	2,063,966	2,123,400
Current liabilities:
Accounts payable	81,462	115,417
Accrued salaries and benefits	50,606	65,261
Software license agreements	20,948	21,736
Current lease liabilities	18,442	14,680
Acquisition-related liabilities	21,361	30,964
Other accrued liabilities	23,521	16,725
Total current liabilities	216,340	264,783
Long-term liabilities:
Non-current lease liabilities	122,631	163,162
Non-current income taxes	59,013	73,383
Long-term acquisition-related liabilities	0	8,692
Other long-term liabilities	7,700	13,563
Total long-term liabilities	189,344	258,800
Stockholders’ equity:
Preferred stock, 5.0 million shares authorized but unissued	0	0
Common stock, $0.001 par value, 280,000 shares authorized, 55,098 shares and 56,596 shares issued and outstanding at March 25, 2023 and March 26, 2022, respectively	55	57
Additional paid-in capital	1,670,086	1,578,370
Accumulated earnings (deficit)	(9,320)	23,435
Accumulated other comprehensive loss	(2,539)	(2,045)
Total stockholders’ equity	1,658,282	1,599,817
Total liabilities and stockholders’ equity	$ 2,063,966	$ 2,123,400