Did you analyze how Cirrus Logic (CRUS) fared in its international operations for the quarter ending June 2024? Given the widespread global presence of this chipmaker, scrutinizing the trends in international revenues becomes imperative to assess its financial strength and future growth possibilities. The global economy today is deeply interlinked, making a company's engagement with international markets a critical factor in determining its financial success and growth path. It has become essential for inve ...

Cirrus Logic Inc. (CRUS) reported first-quarter fiscal 2025 adjusted earnings per share (EPS) of $1.12, which surpassed the Zacks Consensus Estimate by 80.7%. Also, the bottom line expanded 67.2% from the prior-year quarter’s 67 cents.Total revenues of $374 million beat the Zacks Consensus Estimate by 17.7% and soared 18% year over year. The uptick was driven primarily by stronger-than-anticipated shipments into the smartphone market. The company’s largest customer accounted for 88% of total revenues in the ...

Cirrus Logic, Inc. (NASDAQ:CRUS) Q1 2025 Earnings Conference Call August 6, 2024 5:00 PM ET Company Participants Chelsea Heffernan - Vice President of Investor Relations John Forsyth - Chief Executive Officer Ulf Habermann - Interim Chief Financial Officer Conference Call Participants Thomas O'Malley - Barclays Capital Matt Ramsay - TD Cowen David Williams - The Benchmark Company Operator Ladies and gentlemen, thank you for standing by. Welcome to the Cirrus Logic First Quarter Fiscal Year 2025 Financial Re ...

Core Insights - Cirrus Logic (CRUS) reported quarterly earnings of $1.12 per share, significantly exceeding the Zacks Consensus Estimate of $0.62 per share, and up from $0.67 per share a year ago, representing an earnings surprise of 80.65% [1] - The company achieved revenues of $374.03 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 17.73% and increasing from $317.02 million year-over-year [1] Earnings Performance - Cirrus Logic has consistently outperformed consensus EPS estimates over the last four quarters, achieving this four times [1] - The company also exceeded consensus revenue estimates in each of the last four quarters [1] Stock Performance - Cirrus Logic shares have increased by approximately 35.7% since the beginning of the year, compared to an 8.7% gain in the S&P 500 [2] Future Outlook - The company's earnings outlook is favorable, with a current consensus EPS estimate of $1.70 on revenues of $477.77 million for the upcoming quarter, and $6.04 on revenues of $1.75 billion for the current fiscal year [4] - The Zacks Rank for Cirrus Logic is 2 (Buy), indicating expectations for the stock to outperform the market in the near future [4] Industry Context - The Electronics - Semiconductors industry, to which Cirrus Logic belongs, is currently ranked in the bottom 40% of over 250 Zacks industries, which may impact stock performance [5] - Another company in the same industry, Pixelworks (PXLW), is expected to report a quarterly loss of $0.15 per share, reflecting a year-over-year decline of 66.7% [5][6]

Investor Relations Update As of August 6, 2024 Safe Harbor Statement Except for historical information contained herein, the matters set forth in this presentation contain forward-looking statements, including industry market projections; our revenue growth opportunities; our ability to grow the percent revenue derived from high-performance mixed-signal (HPMS) solutions beyond audio; our ability to fuel product and application diversification; our ability to maintain our leadership position in smartphone au ...

For the Transition Period from ____ to ____ Commission File Number 0-17795 CIRRUS LOGIC, INC. (Exact name of registrant as specified in its charter) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 29, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | Title of each class | Trading Symbol | Name of each e ...

Exhibit 99.2 Q1 FY25 Letter to Shareholders August 6, 2024 August 6, 2024 Dear Shareholders, In Q1 FY25, Cirrus Logic delivered revenue of $374.0 million, up 18% year over year. Revenue was above the top end of our guidance range due to stronger-than-expected shipments into smartphones. GAAP and non- GAAP operating profit were 12.5 percent and 19.0 percent, respectively, while GAAP and non-GAAP earnings per share were $0.76 and $1.12, respectively. During the quarter, we started ramping production of our ne ...

The semiconductor industry’s global sales are gaining momentum. The Semiconductor Industry Association recently reported a 1.7% month-over-month increase and 18.3% year-over-year growth in global semiconductor sales, reaching $50 billion in May.Year-over-year growth was strongest in the Americas, with sales jumping 42.8%, trailed by China and Asia Pacific/All Other, sales of which increased 21.6% and 12.7%, respectively.In the second quarter of 2024, global sales increased 18.3% year over year and 6.5% sequ ...

An optimistic note from a Wall Street analyst lifted Cirrus and other chip stocks, too.Shares of audio mixed-signal chipmaker Cirrus Logic (CRUS 3.86%) were rising on Tuesday, up as much as 6.3% at one point before pulling back to a 4.1% gain as of 2:30 p.m. ET. Cirrus rose on the back of a positive analyst note, which had good news for this smartphone-related chipmaker, as well as others.Keybanc's checks leave its chip analyst optimisticIn a research note published today, Keybanc analyst John Vinh raised h ...

Core Viewpoint - Cirrus Logic's stock has surged 48% in 2024 due to optimism surrounding a recovery in the smartphone market, strong quarterly results, and potential improvements in its largest customer, Apple [1][3]. Group 1: Financial Performance - Cirrus Logic reported $372 million in revenue for Q4 fiscal 2024, flat year-over-year but exceeding Wall Street's estimate of $317 million [3]. - Non-GAAP earnings rose 35% year-over-year to $1.24 per share, significantly above the consensus estimate of $0.64 per share [3]. - The company forecasts $320 million in revenue for the current quarter, surpassing the analyst estimate of $302 million [3]. Group 2: Customer Dependency - Apple accounted for 87% of Cirrus Logic's revenue in fiscal 2024, up from 83% and 79% in the previous two fiscal years [1][2]. - The decline in Apple's iPhone shipments by nearly 10% year-over-year in Q1 2024 impacted Cirrus Logic's top-line growth [4]. Group 3: Market Outlook - The AI smartphone market is projected to grow at a CAGR of 65% through 2027, which could benefit Cirrus Logic as Apple integrates AI features into its products [4][5]. - Analysts expect Apple to sell 244 million iPhones in fiscal 2025, a 10% increase from the current fiscal year, with continued growth anticipated in fiscal 2026 [5][6]. - The upcoming release of AI-capable MacBooks and the expected upgrade cycle for iPhones could further enhance Cirrus Logic's growth prospects [6][7]. Group 4: Investment Considerations - Cirrus Logic's revenue in fiscal 2024 decreased by almost 6% to $1.79 billion, but analysts predict a small improvement in the current fiscal year [7]. - The stock trades at 26 times trailing earnings, which is a discount compared to the Nasdaq-100's trailing earnings multiple of 32, indicating potential for further upside [7][8].