A downtrend has been apparent in Cirrus Logic (CRUS) lately with too much selling pressure. The stock has declined 13.3% over the past four weeks. However, given the fact that it is now in oversold territory and Wall Street analysts are majorly in agreement about the company's ability to report better earnings than they predicted earlier, the stock could be due for a turnaround.Here is How to Spot Oversold StocksWe use Relative Strength Index (RSI), one of the most commonly used technical indicators, for sp ...

Financial Data and Key Metrics Changes - Cirrus Logic reported record revenue of $541.9 million for Q2 FY '25, which is near the top end of the guidance range, reflecting a 45% sequential increase and a 13% year-over-year increase [9][18][19] - Non-GAAP gross profit was $282.9 million with a gross margin of 52.2%, showing a sequential increase of 160 basis points and a year-over-year increase of 90 basis points [20][22] - Non-GAAP net income reached $125.3 million, resulting in a record earnings per share of $2.25 [22] Business Line Data and Key Metrics Changes - The flagship smartphone audio business saw significant advancements with the introduction of a next-generation custom boosted amplifier and a 22 nanometer smart codec, contributing to improved power efficiency and audio quality [11][12] - The camera controller product line continued to gain traction, with increased content value since its introduction in 2020, benefiting from favorable smartphone market conditions [13] - The laptop business is in early stages but has secured its first high-volume design win with a new PC codec, indicating growth potential in this segment [15][16] Market Data and Key Metrics Changes - The overall smartphone market is experiencing a favorable mix that includes more devices featuring Cirrus Logic's camera controllers, enhancing revenue opportunities [13] - The company anticipates growth in the laptop market, with multiple Tier 1 customers integrating Cirrus Logic components into their devices [15][16] Company Strategy and Development Direction - The company's long-term strategy focuses on maintaining leadership in smartphone audio, expanding high-performance mixed signal functionality, and penetrating new markets [10] - Investments in R&D for advanced power sensing and battery technologies are expected to diversify product offerings and expand market presence [14] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the complexities in comparing December quarter results due to an extra week of production in the September quarter and a shift in fiscal year-end timing [35][36] - The company remains optimistic about future growth, emphasizing the importance of being positioned for growth even if smartphone unit sales remain flat [59][60] Other Important Information - The company ended the quarter with $706.6 million in cash and investments, with no debt outstanding and $300 million undrawn on its revolver [23] - Cirrus Logic plans to continue returning capital to shareholders through stock repurchases, with $224.1 million remaining in its repurchase authorization [27] Q&A Session Summary Question: December quarter expectations and content delivery - Management explained that the December quarter would face challenges due to an extra week of production in September and a comparison to a 14-week December quarter last year, impacting year-over-year comparisons [35][36] Question: Wafer obligations and inventory management - Management confirmed that they expect to build inventory into early FY '26 to fulfill wafer obligations, indicating a long-term selling strategy [40] Question: Impact of largest customer updates on supply chain - Management noted that the transition period is influenced more by the September quarter's timing than by customer updates, with ongoing excitement about new product features [43] Question: Growth opportunities in smartphone and laptop markets - Management highlighted that both content and unit growth are important, with significant opportunities for incremental additions and new sockets in the smartphone market [59][60] Question: Tracking of PC-focused products and revenue expectations - Management indicated that they are on track with low tens of millions in revenue from PC products, with expectations for a meaningful step up in FY '26 [56]

Cirrus Logic (CRUS) came out with quarterly earnings of $2.25 per share, beating the Zacks Consensus Estimate of $2.03 per share. This compares to earnings of $1.80 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 10.84%. A quarter ago, it was expected that this chipmaker would post earnings of $0.62 per share when it actually produced earnings of $1.12, delivering a surprise of 80.65%.Over the last four quarters, the company h ...

Investor Relations Update As of November 4, 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 fuel product and application diversification; our ability to maintain our leadership position in smartphone audio; our ability to increase HPMS content in smartphones; our ability to leverage our strength in audio and HPMS ...

Exhibit 99.2 Q2 FY25 Letter to Shareholders November 4, 2024 November 4, 2024 Dear Shareholders, In Q2 FY25, Cirrus Logic delivered record revenue and EPS for the September quarter, driven by strong demand for products shipping into smartphones and a higher-volume production week associated with typical seasonal product ramps. Revenue was $541.9 million, up 45 percent quarter over quarter and up 13 percent year over year. GAAP and non-GAAP operating profit were 24.3 percent and 28.8 percent, respectively, w ...

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 September 28, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from ____ to ____ Commission File Number 0-17795 CIRRUS LOGIC, INC. (Exact name of registrant as specified in its charter) Delaware 77-0024818 (State or other jurisdiction o ...

Growth investors focus on stocks that are seeing above-average financial growth, as this feature helps these securities garner the market's attention and deliver solid returns. But finding a growth stock that can live up to its true potential can be a tough task. In addition to volatility, these stocks carry above-average risk by their very nature. Also, one could end up losing from a stock whose growth story is actually over or nearing its end. However, the Zacks Growth Style Score (part of the Zacks Style ...

The strong demand for generative AI smartphones and this company's tight relationship with a key smartphone manufacturer point toward better times.Nvidia stock has been in stellar form on the market over the past couple of years thanks to the proliferation of artificial intelligence (AI), as the robust demand for the company's graphics cards that are deployed in data centers has led to outstanding growth in its revenue and earnings.Nvidia's dominant position in the AI chip market explains why its shares hav ...

Cirrus Logic (CRUS) could be a solid choice for investors given its recent upgrade to a Zacks Rank #1 (Strong Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.Indi ...

Cirrus Logic, Inc.’s (CRUS) stock has gained 45.4% in the past six months outperforming its sub-industry, the Zacks Computer and Technology sector and the S&P 500 Composite’s growth of 29.4%, 16.1% and 15.7%, respectively. Cirrus Logic is a fabless semiconductor supplier, which develops low-power, high-precision mixed-signal processing solutions.Six-Month Price Performance ChartImage Source: Zacks Investment ResearchClosing at $124.01 as of yesterday’s trading session, CRUS stock is currently trading 1.6% b ...