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Cirrus Logic, Inc. (CRUS) Report Analysis

Corporate Events

Positive

Cirrus Logic, Inc.(NasdaqGS:CRUS) added to Russ...

2022-06-24 00:00:00

Cirrus Logic, Inc.(NasdaqGS:CRUS) added to Russell 1000 Value-Defensive Index

Positive

Cirrus Logic, Inc.(NasdaqGS:CRUS) added to Russ...

2022-06-24 00:00:00

Cirrus Logic, Inc.(NasdaqGS:CRUS) added to Russell 1000 Defensive Index

Neutral

Cirrus Logic, Inc. Presents at Cowen 50th Annua...

2022-05-23 20:00:00

Cirrus Logic, Inc. Presents at Cowen 50th Annual Technology, Media, and Telecom Conference, Jun-01-2022 08:30 AM. Venue: New York City, New Yo...

Neutral

Cirrus Logic, Inc. Presents at Stifel 2022 Cros...

2022-05-23 20:00:00

Cirrus Logic, Inc. Presents at Stifel 2022 Cross Sector Insight Conference, Jun-07-2022 01:15 PM. Venue: The InterContinental Boston Hotel, Bo...

Neutral

Cirrus Logic, Inc. Provides Earnings Guidance f...

2022-05-03 20:02:00

Cirrus Logic, Inc. provided earnings guidance for the first quarter of fiscal year 2023. For the quarter, the company expected revenue to be i...

Neutral

Tranche Update on Cirrus Logic, Inc. (NasdaqGS:...

2022-05-03 16:02:00

From December 26, 2021 to March 26, 2022, the company has repurchased 891,571 shares, representing 1.56% for $75 million. With this, the compa...

Negative

Cirrus Logic Appoints Venk Nathamuni as Chief F...

2022-04-12 20:02:00

Cirrus Logic Inc. announced the appointment of Venk Nathamuni as chief financial officer, effective April 18, 2022. Venk brings more than 30 y...

Neutral

Cirrus Logic, Inc. to Report Q4, 2022 Results o...

2022-04-11 20:00:00

Cirrus Logic, Inc. announced that they will report Q4, 2022 results at 4:00 PM, US Eastern Standard Time on May 03, 2022

Neutral

Cirrus Logic, Inc., Q4 2022 Earnings Call, May 03, 2022

2022-04-11 20:00:00

Cirrus Logic, Inc., Q4 2022 Earnings Call, May 03, 2022

Neutral

Stifel, Nicolaus & Company, Incorporated, Stife...

2022-03-02 19:15:00

Stifel, Nicolaus & Company, Incorporated, Stifel 2022 Cross Sector Insight Conference, Jun 06, 2022 through Jun 09, 2022. Venue: The InterCont...

Neutral

Cowen Inc., Cowen 50th Annual Technology, Media...

2022-02-07 20:29:00

Cowen Inc., Cowen 50th Annual Technology, Media, and Telecom Conference, Jun 01, 2022 through Jun 03, 2022. Venue: New York City, New York, Un...

Neutral

Cirrus Logic, Inc. Provides Earning Guidance fo...

2022-01-31 21:00:00

Cirrus Logic, Inc. provided earning guidance for four quarter of Fiscal Year 2022. For the period, revenue is expected to range between $400 m...

Neutral

Cirrus Logic, Inc. to Report Q3, 2022 Results o...

2022-01-06 21:00:00

Cirrus Logic, Inc. announced that they will report Q3, 2022 results at 4:00 PM, US Eastern Standard Time on Jan 31, 2022

Neutral

Cirrus Logic, Inc., Q3 2022 Earnings Call, Jan 31, 2022

2022-01-06 21:00:00

Cirrus Logic, Inc., Q3 2022 Earnings Call, Jan 31, 2022

Neutral

Cirrus Logic, Inc. Presents at Barclays Global ...

2021-12-01 21:00:00

Cirrus Logic, Inc. Presents at Barclays Global TMT Conference 2021, Dec-08-2021 12:35 PM. Speakers: John M. Forsyth, CEO, President & Director.

Negative

Cirrus Logic, Inc. Announces Resignation of Jo-...

2021-11-23 21:00:00

Cirrus Logic, Inc. announced that Jo-Dee M. Benson notified of her intention to resign as Chief Culture Officer effective December 31, 2021. O...

Positive

Biolinq Inc announced that it has received $100...

2021-11-02 00:00:00

On November 2, 2021, Biolinq Inc closed the transaction. The company raised $100,000,000 in the transaction. The round is led by RiverVest Ven...

Negative

Cirrus Logic, Inc. Announces Retirement of Thur...

2021-11-01 20:01:00

Cirrus Logic, Inc. announced that Thurman Case is planning to retire from his position as chief financial officer. Mr. Case will remain in his...

Neutral

Cirrus Logic, Inc. Provides Earnings Guidance f...

2021-11-01 20:01:00

Cirrus Logic, Inc. provided earnings guidance for the third quarter of fiscal 2022. For the quarter, revenue is expected to range between $490...

Neutral

Tranche Update on Cirrus Logic, Inc. (NasdaqGS:...

2021-11-01 16:03:00

From June 27, 2021 to September 25, 2021, the company has repurchased 505,000 shares, representing 0.88% for $40.04 million. With this, the co...

Neutral

Cirrus Logic, Inc. to Report Q2, 2022 Results o...

2021-10-01 20:00:00

Cirrus Logic, Inc. announced that they will report Q2, 2022 results at 4:00 PM, Eastern Daylight on Nov 01, 2021

Neutral

Cirrus Logic, Inc., Q2 2022 Earnings Call, Nov 01, 2021

2021-10-01 20:00:00

Cirrus Logic, Inc., Q2 2022 Earnings Call, Nov 01, 2021

Negative

Cirrus Logic, Inc. Appoints Raghib Hussain as Director

2021-10-01 15:02:00

Cirrus Logic, Inc. has announced that Raghib Hussain has been named to the company’s Board of Directors, effective September 29, 2021. Mr. Hus...

Negative

Jo-Dee M. Benson Intends to Resign as Chief Cul...

2021-09-21 20:47:00

On June 8, 2021, Jo-Dee M. Benson notified Cirrus Logic, Inc. of her intention to resign as Chief Culture Officer effective December 31, 2021.

Positive

Biolinq Inc announced that it expects to receiv...

2021-09-02 00:00:00

Biolinq Inc announced that it will receive $109,511,762 in a round of funding on September 2, 2021. The company will issue common shares in th...

Neutral

Cirrus Logic, Inc. Presents at Oppenheimer 24th...

2021-08-02 20:00:00

Cirrus Logic, Inc. Presents at Oppenheimer 24th Annual Technology, Internet and Communications Conference, Aug-10-2021 02:05 PM. Speakers: Dav...

Neutral

Cirrus Logic, Inc. Presents at 22nd Annual KeyB...

2021-08-02 20:00:00

Cirrus Logic, Inc. Presents at 22nd Annual KeyBanc Virtual Technology Leadership Forum, Aug-11-2021 12:40 PM. Venue: Grand Hyatt, Vail, Colora...

Neutral

Cirrus Logic, Inc. Provides Earnings Guidance f...

2021-07-28 20:01:00

Cirrus Logic, Inc. provided earnings guidance for the second quarter of fiscal year 2022. For the quarter, the company expects revenue to be i...

Neutral

Tranche Update on Cirrus Logic, Inc. (NasdaqGS:...

2021-07-28 16:02:00

From March 28, 2021 to June 26, 2021, the company has repurchased 32,274 shares, representing 0.06% for $2.43 million. With this, the company ...

Neutral

Tranche Update on Cirrus Logic, Inc. (NasdaqGS:...

2021-07-28 16:02:00

From March 28, 2021 to May 22, 2021, the company has repurchased 133,726 shares, representing 0.23% for $10.05 million. With this, the company...

Positive

Cirrus Logic, Inc. (NasdaqGS:CRUS) completed th...

2021-07-20 00:00:00

Cirrus Logic, Inc. (NasdaqGS:CRUS) entered into an agreement to acquire Lion Semiconductor Inc. for approximately $340 million on July 8, 2021...

Positive

Cirrus Logic, Inc. Enters into a Second Amended...

2021-07-08 20:03:00

On July 8, 2021, Cirrus Logic, Inc. entered into a second amended and restated credit agreement with Wells Fargo Bank, National Association, a...

Positive

Cirrus Logic, Inc. (NasdaqGS:CRUS) entered into...

2021-07-08 00:00:00

Cirrus Logic, Inc. (NasdaqGS:CRUS) entered into an agreement to acquire Lion Semiconductor Inc. for approximately $340 million on July 8, 2021...

Neutral

Cirrus Logic, Inc., Q1 2022 Earnings Call, Jul 28, 2021

2021-07-01 20:00:00

Cirrus Logic, Inc., Q1 2022 Earnings Call, Jul 28, 2021

Neutral

Cirrus Logic, Inc. to Report Q1, 2022 Results o...

2021-07-01 20:00:00

Cirrus Logic, Inc. announced that they will report Q1, 2022 results at 4:00 PM, US Eastern Standard Time on Jul 28, 2021

Positive

Cirrus Logic, Inc.(NasdaqGS:CRUS) added to Russell 1000 Value-Defensive Index

2022-06-24 00:00:00

Cirrus Logic, Inc.(NasdaqGS:CRUS) added to Russell 1000 Value-Defensive Index

Positive

Cirrus Logic, Inc.(NasdaqGS:CRUS) added to Russell 1000 Defensive Index

2022-06-24 00:00:00

Cirrus Logic, Inc.(NasdaqGS:CRUS) added to Russell 1000 Defensive Index

Neutral

Cirrus Logic, Inc. Presents at Cowen 50th Annual Technology, Media, and Telecom Conference, Jun-01-2022 08:30 AM

2022-05-23 20:00:00

Cirrus Logic, Inc. Presents at Cowen 50th Annual Technology, Media, and Telecom Conference, Jun-01-2022 08:30 AM. Venue: New York City, New York, United States. Speakers: John C. Carter, Independent Director, Venkatesh R. Nathamuni, Chief Financial Officer.

Neutral

Cirrus Logic, Inc. Presents at Stifel 2022 Cross Sector Insight Conference, Jun-07-2022 01:15 PM

2022-05-23 20:00:00

Cirrus Logic, Inc. Presents at Stifel 2022 Cross Sector Insight Conference, Jun-07-2022 01:15 PM. Venue: The InterContinental Boston Hotel, Boston, Massachusetts, United States. Speakers: John C. Carter, Independent Director, Venkatesh R. Nathamuni, Chief Financial Officer.

Neutral

Cirrus Logic, Inc. Provides Earnings Guidance for the First Quarter of Fiscal Year 2023

2022-05-03 20:02:00

Cirrus Logic, Inc. provided earnings guidance for the first quarter of fiscal year 2023. For the quarter, the company expected revenue to be in the range of $350 million to $390 million.

Neutral

Tranche Update on Cirrus Logic, Inc. (NasdaqGS:CRUS)'s Equity Buyback Plan announced on February 1, 2021.

2022-05-03 16:02:00

From December 26, 2021 to March 26, 2022, the company has repurchased 891,571 shares, representing 1.56% for $75 million. With this, the company has completed the repurchase of 1,929,845 shares, representing 3.37% for $157.48 million under the buyback announced on February 1, 2021.

Negative

Cirrus Logic Appoints Venk Nathamuni as Chief Financial Officer

2022-04-12 20:02:00

Cirrus Logic Inc. announced the appointment of Venk Nathamuni as chief financial officer, effective April 18, 2022. Venk brings more than 30 years of experience with deep knowledge of the semiconductor industry, corporate finance and strategy, business development, mergers and acquisitions, and investor relations. Venk joins Cirrus Logic from Arista Networks, where he served as head of corporate finance, M&A, investor relations, and information technology. As previously announced, Thurman Case is stepping down as CFO and will remain with the company in an advisory role until he retires in November 2022.

Neutral

Cirrus Logic, Inc. to Report Q4, 2022 Results on May 03, 2022

2022-04-11 20:00:00

Cirrus Logic, Inc. announced that they will report Q4, 2022 results at 4:00 PM, US Eastern Standard Time on May 03, 2022

Neutral

Cirrus Logic, Inc., Q4 2022 Earnings Call, May 03, 2022

2022-04-11 20:00:00

Cirrus Logic, Inc., Q4 2022 Earnings Call, May 03, 2022

Neutral

Stifel, Nicolaus & Company, Incorporated, Stifel 2022 Cross Sector Insight Conference, Jun 06, 2022 through Jun 09, 2022

2022-03-02 19:15:00

Stifel, Nicolaus & Company, Incorporated, Stifel 2022 Cross Sector Insight Conference, Jun 06, 2022 through Jun 09, 2022. Venue: The InterContinental Boston Hotel, Boston, Massachusetts, United States.

Neutral

Cowen Inc., Cowen 50th Annual Technology, Media, and Telecom Conference, Jun 01, 2022 through Jun 03, 2022

2022-02-07 20:29:00

Cowen Inc., Cowen 50th Annual Technology, Media, and Telecom Conference, Jun 01, 2022 through Jun 03, 2022. Venue: New York City, New York, United States.

Neutral

Cirrus Logic, Inc. Provides Earning Guidance for Four Quarter of Fiscal Year 2022

2022-01-31 21:00:00

Cirrus Logic, Inc. provided earning guidance for four quarter of Fiscal Year 2022. For the period, revenue is expected to range between $400 million and $440 million.

Neutral

Cirrus Logic, Inc. to Report Q3, 2022 Results on Jan 31, 2022

2022-01-06 21:00:00

Cirrus Logic, Inc. announced that they will report Q3, 2022 results at 4:00 PM, US Eastern Standard Time on Jan 31, 2022

Neutral

Cirrus Logic, Inc., Q3 2022 Earnings Call, Jan 31, 2022

2022-01-06 21:00:00

Cirrus Logic, Inc., Q3 2022 Earnings Call, Jan 31, 2022

Neutral

Cirrus Logic, Inc. Presents at Barclays Global TMT Conference 2021, Dec-08-2021 12:35 PM

2021-12-01 21:00:00

Cirrus Logic, Inc. Presents at Barclays Global TMT Conference 2021, Dec-08-2021 12:35 PM. Speakers: John M. Forsyth, CEO, President & Director.

Negative

Cirrus Logic, Inc. Announces Resignation of Jo-Dee M. Benson as Chief Culture Officer, Effective December 31, 2021

2021-11-23 21:00:00

Cirrus Logic, Inc. announced that Jo-Dee M. Benson notified of her intention to resign as Chief Culture Officer effective December 31, 2021. On November 22, 2021, Ms. Benson entered into a Transition Services Agreement providing for her resignation as of that date, followed by a six-month period during which Ms. Benson will act as a consultant to the Company to assist with transitional responsibilities as may be necessary.

Positive

Biolinq Inc announced that it has received $100 million in funding from a group of investors

2021-11-02 00:00:00

On November 2, 2021, Biolinq Inc closed the transaction. The company raised $100,000,000 in the transaction. The round is led by RiverVest Venture Partners, LLC. The transaction included participation from T&W Medical, Ascensia Diabetes Care Holdings AG, Longevity Vision Fund, a fund managed by Longevity Vision Investment Advisors, LLC, Falcon Edge Capital, LP, Aphelion Capital, LLC, Senvest Capital Inc, The Broe Group, Taisho Pharmaceutical Holdings Co., Ltd., Cirrus Logic, Inc, EOFLOW Co.,Ltd, _Able Partners NYC, LLC, new investors AXA IM Alts, Global Health Investment Fund I, LLC, a fund managed by Global Health Investment Advisors, LLC, returning investors Merck Ventures B.V., Hikma Ventures Limited and JDRF T1D Fund, a fund managed by returning investor Juvenile Diabetes Research Foundation International Inc., Endowment Arm. The company has raised $37,821,569 in its final tranche. The company has raised $77,946,902 pursuant to exemption provided under Regulation D from 62 investors.

Negative

Cirrus Logic, Inc. Announces Retirement of Thurman Case as Chief Financial Officer

2021-11-01 20:01:00

Cirrus Logic, Inc. announced that Thurman Case is planning to retire from his position as chief financial officer. Mr. Case will remain in his role and will work to help ensure a seamless transition following a comprehensive search to identify his successor.

Neutral

Cirrus Logic, Inc. Provides Earnings Guidance for the Third Quarter of Fiscal 2022

2021-11-01 20:01:00

Cirrus Logic, Inc. provided earnings guidance for the third quarter of fiscal 2022. For the quarter, revenue is expected to range between $490 million and $530 million.

Neutral

Tranche Update on Cirrus Logic, Inc. (NasdaqGS:CRUS)'s Equity Buyback Plan announced on February 1, 2021.

2021-11-01 16:03:00

From June 27, 2021 to September 25, 2021, the company has repurchased 505,000 shares, representing 0.88% for $40.04 million. With this, the company has completed the repurchase of 537,274 shares, representing 0.93% for $42.46 million under the buyback announced on February 1, 2021.

Neutral

Cirrus Logic, Inc. to Report Q2, 2022 Results on Nov 01, 2021

2021-10-01 20:00:00

Cirrus Logic, Inc. announced that they will report Q2, 2022 results at 4:00 PM, Eastern Daylight on Nov 01, 2021

Neutral

Cirrus Logic, Inc., Q2 2022 Earnings Call, Nov 01, 2021

2021-10-01 20:00:00

Cirrus Logic, Inc., Q2 2022 Earnings Call, Nov 01, 2021

Negative

Cirrus Logic, Inc. Appoints Raghib Hussain as Director

2021-10-01 15:02:00

Cirrus Logic, Inc. has announced that Raghib Hussain has been named to the company’s Board of Directors, effective September 29, 2021. Mr. Hussain will serve as a director with an initial term expiring at the company’s 2022 annual meeting of stockholders. Mr. Hussain has not been named to any committees of the Board. Hussain currently serves as president, Products and Technologies, for Marvell Technology, Inc. Prior to joining Marvell in 2018 as chief strategy officer, Hussain served as co-founder, chief technology officer and chief operating officer of Cavium, Inc.

Negative

Jo-Dee M. Benson Intends to Resign as Chief Culture Officer of Cirrus Logic, Inc., Effective December 31, 2021

2021-09-21 20:47:00

On June 8, 2021, Jo-Dee M. Benson notified Cirrus Logic, Inc. of her intention to resign as Chief Culture Officer effective December 31, 2021.

Positive

Biolinq Inc announced that it expects to receive funding

2021-09-02 00:00:00

Biolinq Inc announced that it will receive $109,511,762 in a round of funding on September 2, 2021. The company will issue common shares in the transaction. The company will issue securities pursuant to exemption provided under Regulation D.

Neutral

Cirrus Logic, Inc. Presents at Oppenheimer 24th Annual Technology, Internet and Communications Conference, Aug-10-2021 02:05 PM

2021-08-02 20:00:00

Cirrus Logic, Inc. Presents at Oppenheimer 24th Annual Technology, Internet and Communications Conference, Aug-10-2021 02:05 PM. Speakers: David Biven, Director of Corporate Development, Thurman K. Case, VP of Finance, CFO & Principal Accounting Officer.

Neutral

Cirrus Logic, Inc. Presents at 22nd Annual KeyBanc Virtual Technology Leadership Forum, Aug-11-2021 12:40 PM

2021-08-02 20:00:00

Cirrus Logic, Inc. Presents at 22nd Annual KeyBanc Virtual Technology Leadership Forum, Aug-11-2021 12:40 PM. Venue: Grand Hyatt, Vail, Colorado, United States. Speakers: Carl Jackson Alberty, Vice President of Mixed-Signal Products, Thurman K. Case, VP of Finance, CFO & Principal Accounting Officer.

Neutral

Cirrus Logic, Inc. Provides Earnings Guidance for the Second Quarter of Fiscal Year 2022

2021-07-28 20:01:00

Cirrus Logic, Inc. provided earnings guidance for the second quarter of fiscal year 2022. For the quarter, the company expects revenue to be in the range between $430 million and $470 million.

Neutral

Tranche Update on Cirrus Logic, Inc. (NasdaqGS:CRUS)'s Equity Buyback Plan announced on February 1, 2021.

2021-07-28 16:02:00

From March 28, 2021 to June 26, 2021, the company has repurchased 32,274 shares, representing 0.06% for $2.43 million. With this, the company has completed the repurchase of 32,274 shares, representing 0.06% for $2.43 million under the buyback announced on February 1, 2021.

Neutral

Tranche Update on Cirrus Logic, Inc. (NasdaqGS:CRUS)'s Equity Buyback Plan announced on January 30, 2019.

2021-07-28 16:02:00

From March 28, 2021 to May 22, 2021, the company has repurchased 133,726 shares, representing 0.23% for $10.05 million. With this, the company has completed the repurchase of 2,827,765 shares, representing 4.86% for $200 million under the buyback announced on January 30, 2019.

Positive

Cirrus Logic, Inc. (NasdaqGS:CRUS) completed the acquisition of Lion Semiconductor Inc.

2021-07-20 00:00:00

Cirrus Logic, Inc. (NasdaqGS:CRUS) entered into an agreement to acquire Lion Semiconductor Inc. for approximately $340 million on July 8, 2021. Cirrus Logic to pay $335 million in cash. Subject to the terms and conditions of the merger agreement, holders of Lion’s outstanding stock, options, warrants, and notes will be entitled to receive a portion of the merger consideration of $335 million in cash, which amount will be adjusted for cash, debt, net working capital, transaction expenses, and holdback amounts. Pursuant to the merger agreement, Lion continuing as the surviving corporation and a wholly owned subsidiary of Cirrus Logic. Lion Semicond have 35 employees with operation in San Francisco and Seoul. The closing is subject to the adoption of the Merger Agreement by Lion's stockholders, Section 280G Stockholder Approval and 85% of all employees of Lion Semiconductor or any Lion Semiconductor’s Subsidiary, which, for the avoidance of doubt, shall have remained continuously employed with Lion Semiconductor, as applicable, from the Agreement Date through the Closing and shall have signed an Offer Letter and Employee Confidentiality Agreement, and no action shall have been taken by any such individual to rescind any such document. The boards of directors of both companies have unanimously approved the transaction. Cirrus Logic expects the Merger to close in its fiscal second quarter. Lion is expected to be immediately accretive to GAAP and non-GAAP earnings per share, contributing approximately $60 million in revenue between deal close and the end of FY22. Wes Jones, Tom Wilson, Shane Tucker, Todd Way of Vinson & Elkins L.L.P. acted as legal advisor to Cirrus Logic. Glenn Luinenburg and Eric Hanson of Wilmer Cutler Pickering Hale and Dorr LLP acted as legal advisors to Lion Semiconductor. Fortis Advisors LLC acted as agent for Lion’s securityholders. Cirrus Logic, Inc. (NasdaqGS:CRUS) completed the acquisition of Lion Semiconductor Inc. on July 20, 2021. Lion is now a wholly-owned subsidiary of Cirrus Logic. At the acquisition date, total consideration transferred was approximately $280.5 million, inclusive of $4.9 million in cash acquired. During the third quarter of fiscal year 2022 an additional $1.2 million of consideration was paid related to contractual post-closing adjustment provisions. The remaining merger consideration of $31 million is subject to indemnity provisions as outlined in the merger agreement and is recorded as a liability as of December 25, 2021.

Positive

Cirrus Logic, Inc. Enters into a Second Amended and Restated Credit Agreement with Wells Fargo Bank

2021-07-08 20:03:00

On July 8, 2021, Cirrus Logic, Inc. entered into a second amended and restated credit agreement with Wells Fargo Bank, National Association, as Administrative Agent, and the Lenders party thereto. Capitalized terms used and not defined in this section of Item 1.01 have the meanings given to such terms in the Second Amended Credit Agreement. The Second Amended Credit Agreement provides for a $300 million senior secured revolving credit facility (the “Revolving Credit Facility”). The Revolving Credit Facility matures on July 8, 2026 (the “Maturity Date”). Cirrus Logic must repay any outstanding principal amount of all borrowings, together with all accrued but unpaid interest thereon, on the Maturity Date.The Revolving Credit Facility is required to be guaranteed by all of Cirrus Logic’s material domestic subsidiaries (the “Subsidiary Guarantors”). The Revolving Credit Facility is secured by substantially all the assets of Cirrus Logic and any Subsidiary Guarantors, except for certain excluded assets. Borrowings under the Revolving Credit Facility may, at Cirrus Logic’s election, bear interest at either (a) a Base Rate plus the Applicable Margin (“Base Rate Loans”) or (b) a LIBOR Rate plus the Applicable Margin (“LIBOR Rate Loans”). The Applicable Margin ranges from 0% to.75% per annum for Base Rate Loans and 1.00% to 1.75% per annum for LIBOR Rate Loans based on the ratio of consolidated funded indebtedness to consolidated EBITDA for the most recently ended period of four consecutive fiscal quarters (the “Consolidated Leverage Ratio”). The Second Amended Credit Agreement further provides a method for determining an alternative rate of interest if the LIBOR Rate is no longer available or upon the occurrence of certain other events.

Positive

Cirrus Logic, Inc. (NasdaqGS:CRUS) entered into an agreement to acquire Lion Semiconductor Inc. for approximately $340 million.

2021-07-08 00:00:00

Cirrus Logic, Inc. (NasdaqGS:CRUS) entered into an agreement to acquire Lion Semiconductor Inc. for approximately $340 million on July 8, 2021. Cirrus Logic to pay $335 million in cash. Subject to the terms and conditions of the merger agreement, holders of Lion’s outstanding stock, options, warrants, and notes will be entitled to receive a portion of the merger consideration of $335 million in cash, which amount will be adjusted for cash, debt, net working capital, transaction expenses, and holdback amounts. Pursuant to the merger agreement, Lion continuing as the surviving corporation and a wholly owned subsidiary of Cirrus Logic. Lion Semicond have 35 employees with operation in San Francisco and Seoul. The closing is subject to the adoption of the Merger Agreement by Lion's stockholders, Section 280G Stockholder Approval and 85% of all employees of Lion Semiconductor or any Lion Semiconductor’s Subsidiary, which, for the avoidance of doubt, shall have remained continuously employed with Lion Semiconductor, as applicable, from the Agreement Date through the Closing and shall have signed an Offer Letter and Employee Confidentiality Agreement, and no action shall have been taken by any such individual to rescind any such document. The boards of directors of both companies have unanimously approved the transaction. Cirrus Logic expects the Merger to close in its fiscal second quarter. Lion is expected to be immediately accretive to GAAP and non-GAAP earnings per share, contributing approximately $60 million in revenue between deal close and the end of FY22. Wes Jones, Tom Wilson, Shane Tucker, Todd Way of Vinson & Elkins L.L.P. acted as legal advisor to Cirrus Logic. Glenn Luinenburg and Eric Hanson of Wilmer Cutler Pickering Hale and Dorr LLP acted as legal advisors to Lion Semiconductor. Fortis Advisors LLC acted as agent for Lion’s securityholders.

Neutral

Cirrus Logic, Inc., Q1 2022 Earnings Call, Jul 28, 2021

2021-07-01 20:00:00

Cirrus Logic, Inc., Q1 2022 Earnings Call, Jul 28, 2021

Neutral

Cirrus Logic, Inc. to Report Q1, 2022 Results on Jul 28, 2021

2021-07-01 20:00:00

Cirrus Logic, Inc. announced that they will report Q1, 2022 results at 4:00 PM, US Eastern Standard Time on Jul 28, 2021

Fundamental Summary

The financials published by Cirrus Logic for Q1 were strong and encouraging. Their balanced results conveyed remarkable strength in terms of income and value factors. These above-average results make a strong case overperformance and for anticipating significant upside potential. Correspondingly, Cirrus Logic received a ranking of 92 and a STRONG BUY recommendation.

Cirrus Logic reported earnings results for the fourth quarter ended March 26, 2022. For the fourth quarter, the company reported revenue was USD 489.97 million compared to USD 293.54 million a year ago. Net income was USD 96.41 million compared to USD 25.28 million a year ago. Basic earnings per share from continuing operations was USD 1.69 compared to USD 0.44 a year ago. Diluted earnings per share from continuing operations was USD 1.64 compared to USD 0.42 a year ago.

Business Description

Cirrus Logic, a fabless semiconductor company, provides low-power and high-precision mixed-signal processing solutions in the United States and internationally. It offers portable products, including codecs components that integrate analog-to-digital converters (ADCs) and digital-to-analog converters (DACs) into a single integrated circuit (IC); smart codecs, a codec with digital signal processer; boosted amplifiers; digital signal processors; and SoundClear technology, which consists of a portfolio of tools, software, and algorithms that helps to enhance user experience with features, such as louder, high-fidelity sound, audio playback, voice capture, hearing augmentation, and active noise cancellation. 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 provides high-performance mixed-signal products, such as haptic driver and sensing solutions, camera controllers, power conversion, and control ICs and fast-charging ICs 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 was incorporated in 1984 and is headquartered in Austin, Texas.

Sector Overview

Cirrus Logic is included in the Semiconductors & Semiconductor Equipment according to GICS (global industry classification standard). The Semiconductors & Semiconductor Equipment industry is part of the Information Technology sector. It includes manufacturers of semiconductors, semiconductor equipment, and related products. Cirrus Logic's industry and sector affiliation are expected to negatively affect their likelihood to overperform the market in the upcoming period, as other sectors appear more likely to benefit from the macroeconomic environment we see now.

Fundamental Highlights


Parameter Value Change Score
Assets 2,123.4 2.7% 76
Liabilities 523.6 3.6% 73
Price to Book 2.5 -26.5% 74
Cash & Equivalents 369.8 89.5% 96
Equity 1,599.8 2.4% 81
EBITDA 448.3 24.6% 92
Total Revenues 1,781.5 12.4% 42
Parameter Value Change Score
Return on Equity 21.8 26.8% 93
Net Cashflow -72.4 45.3% 83
Capital Expenditure -26.1 -6.2% 61
Asset Turnover 0.9 10.7% 90
Free Cashflow 1.7 847.4% 98

* All values are TTM

The below chart reflects Cirrus Logic's birds-eye view on its performance with respect to its peers, the company's fillings as reported or to a similar industry, market cap, and country of origin. While Cirrus Logic's peer average final assessment score stands on 72.0, Cirrus Logic's score is 92.

  •  CRUS
  •  Peers average
Name Market Cap Balance Sheet Income Statement Cash Flow Rating Final Assessment mc_sort Hidden
NVIDIA Corporation 422.4B 71 63 82
Hold
76
76 0 1
Intel Corporation 157.9B 77 76 58
Hold
75
75 1 1
Texas Instruments Incorporated 143.5B 76 74 70
Buy
80
80 2 1
QUALCOMM Incorporated 142.4B 82 66 77
Buy
82
82 3 1
Advanced Micro Devices, Inc. 139.6B 88 59 57
Hold
69
69 4 1
Broadcom Inc. 102.5B 62 71 85
Buy
79
79 5 1
Applied Materials, Inc. 84.9B 60 72 69
Hold
69
69 6 1
Analog Devices, Inc. 78.3B 69 65 84
Hold
78
78 7 1
Micron Technology, Inc. 65.6B 81 74 80
Strong Buy
89
89 8 1
Lam Research Corporation 62.4B 59 74 68
Hold
70
70 9 1
KLA Corporation 50.5B 66 67 74
Hold
72
72 10 1
NXP Semiconductors N.V. 41.7B 64 71 73
Hold
73
73 11 1
Marvell Technology, Inc. 40.5B 60 64 65
Hold
61
61 12 1
Microchip Technology Incorporated 33.6B 78 71 79
Buy
85
85 13 1
GLOBALFOUNDRIES Inc. 24.5B 78 70 64
Hold
75
75 14 1
ON Semiconductor Corporation 23.5B 81 73 70
Buy
82
82 15 1
Monolithic Power Systems, Inc. 19.4B 84 66 77
Buy
83
83 16 1
SolarEdge Technologies, Inc. 16.5B 82 53 43
Underperform
54
54 17 1
Skyworks Solutions, Inc. 15.8B 62 70 71
Hold
70
70 18 1
Teradyne, Inc. 15.7B 51 75 68
Hold
66
66 19 1
Entegris, Inc. 14.2B 70 69 65
Hold
70
70 20 1
Qorvo, Inc. 10.6B 67 71 73
Hold
75
75 21 1
First Solar, Inc. 7.5B 58 73 53
Underperform
60
60 22 1
Lattice Semiconductor Corporation 7.2B 68 71 77
Hold
78
78 23 1
MKS Instruments, Inc. 6.0B 70 74 59
Hold
70
70 24 1
Universal Display Corporation 5.4B 75 68 71
Hold
76
76 25 1
Silicon Laboratories Inc. 5.3B 71 70 86
Buy
84
84 26 1
CMC Materials, Inc. 5.2B 80 76 75
Strong Buy
87
87 27 1
Tower Semiconductor Ltd. 5.1B 65 79 68
Buy
79
79 28 1
Synaptics Incorporated 5.1B 81 68 67
Hold
76
76 29 1
Power Integrations, Inc. 4.5B 61 80 82
Buy
83
83 30 1
Amkor Technology, Inc. 4.3B 74 70 60
Hold
71
71 31 1
Allegro MicroSystems, Inc. 4.1B 74 61 56
Hold
62
62 32 1
Semtech Corporation 3.6B 67 75 78
Buy
80
80 33 1
MACOM Technology Solutions Holdings, Inc. 3.4B 69 76 69
Hold
77
77 34 1
SunPower Corporation 3.2B 61 49 74
Underperform
56
56 35 1
FormFactor, Inc. 3.1B 83 80 68
Strong Buy
87
87 36 1
Diodes Incorporated 3.1B 61 76 72
Hold
75
75 37 1
Silicon Motion Technology Corporation 2.9B 54 72 61
Hold
65
65 38 1
Nova Ltd. 2.8B 61 70 54
Hold
64
64 39 1
MaxLinear, Inc. 2.7B 76 75 88
Strong Buy
91
91 40 1
Ambarella, Inc. 2.7B 63 71 80
Hold
77
77 41 1
Kulicke and Soffa Industries, Inc. 2.7B 57 79 83
Buy
80
80 42 1
Rambus Inc. 2.4B 48 64 90
Hold
69
69 43 1
Canadian Solar Inc. 2.2B 58 72 71
Hold
72
72 44 1
Axcelis Technologies, Inc. 1.9B 81 67 82
Buy
85
85 45 1
Credo Technology Group Holding Ltd 1.7B 88 60 53
Hold
67
67 46 1
Himax Technologies, Inc. 1.6B 77 70 67
Buy
79
79 47 1
Impinj, Inc. 1.4B 72 59 65
Hold
65
65 48 1
Ultra Clean Holdings, Inc. 1.4B 63 63 62
Hold
60
60 49 1
Cohu, Inc. 1.4B 57 75 59
Hold
64
64 50 1
Photronics, Inc. 1.3B 68 71 83
Buy
81
81 51 1
SMART Global Holdings, Inc. 1.1B 86 65 62
Hold
75
75 52 1
Veeco Instruments Inc. 1.0B 58 76 71
Hold
72
72 53 1
Alpha and Omega Semiconductor Limited 957.1M 77 69 54
Hold
68
68 54 1
PDF Solutions, Inc. 813.0M 62 71 89
Buy
82
82 55 1
CEVA, Inc. 804.5M 73 71 71
Hold
77
77 56 1
Ichor Holdings, Ltd. 789.3M 59 67 59
Underperform
59
59 57 1
Maxeon Solar Technologies, Ltd. 603.6M 53 49 84
Hold
60
60 58 1
Enphase Energy, Inc. 27.8B 58 57 60
Underperform
53
53 59 1
Wolfspeed, Inc. 8.7B 73 69 55
Hold
67
67 60 1
Daqo New Energy Corp. 5.4B 93 65 89
Strong Buy
95
95 61 1
SiTime Corporation 3.8B 58 64 62
Underperform
59
59 62 1
Onto Innovation Inc. 3.7B 77 67 85
Buy
85
85 63 1
JinkoSolar Holding Co., Ltd. 3.3B 89 62 74
Buy
81
81 64 1
Camtek Ltd. 1.1B 66 68 71
Hold
74
74 65 1
ACM Research, Inc. 950.7M 52 67 50
Underperform
50
50 66 1
NeoPhotonics Corporation 837.4M 66 69 72
Hold
72
72 67 1
Hanwha Q CELLS Co., Ltd. 818.9M 72 70 68
Hold
71
71 68 1
indie Semiconductor, Inc. 752.7M 44 43 85
Underperform
50
50 69 1
Magnachip Semiconductor Corporation 681.9M 74 90 57
Buy
83
83 70 1
Mykrolis Corp. 657.1M 72 67 75
Hold
76
76 71 1
Navitas Semiconductor Corporation 575.2M 67 53 90
Hold
72
72 72 1
Rigetti Computing, Inc. 426.1M 98 73 58
Buy
85
85 73 1
ChipMOS TECHNOLOGIES (Bermuda) LTD. 417.9M 56 66 73
Hold
62
62 74 1
Meta Materials Inc. 414.9M 41 43 84
Underperform
47
47 75 1
Helix Technology Corporation 364.9M 65 74 61
Hold
68
68 76 1
Valens Semiconductor Ltd. 350.3M 75 65 66
Hold
75
75 77 1
Rockley Photonics Holdings Limited 338.0M 41 79 59
Underperform
58
58 78 1
CyberOptics Corporation 278.5M 74 71 72
Buy
78
78 79 1
Transphorm, Inc. 260.9M 45 68 88
Hold
69
69 80 1

Technical Analysis

When trying to optimize the timing of an investment, it's critical to analyze whether the stock looks overbought or oversold, and in which direction the momentum is moving. Cirrus Logic's stock is now priced above its 5-day, but below its 50-day and 200-day moving average, while its MACD (moving average convergence divergence) indicates that the stock's price movement momentum is weakening. Historically, this is a positive setup in the near-term. Meanwhile, looking at the Stochastic Oscillator and RSI (relative strength index), Cirrus Logic's stock indicates that it's likely oversold. Overall, these technical indicators signal negative momentum. Therefore, this stock received a cumulative TA (technical analysis) score of 52.

Bearish 52
Close Price 73.83
52W Low 70.56
52W High 94.3
5D MA 72.05
50D MA 77.49
200D MA 82.54
MACD -2.06
RSI 14.05
STOCH 26.83

Balance Sheet Analysis

Overall, Cirrus Logic's critical balance sheet metrics appear to signal strong support and a high likelihood of positive growth going forward. Cirrus Logic reported a positive trendline in their cash and cash equivalents metrics. Specifically, they reported that cash and cash equivalents were 369.8, representing 89.5% change from the last report. This performance is significantly more impressive than its peers and competitors. It suggests that their stock price has room to grow to reflect its actual intrinsic value. The company's cash and cash equivalents movement, therefore, received a grade of 96. Also, Cirrus Logic produced great equity metrics for this filing, demonstrating management's skill in increasing shareholder value. Cirrus Logic's equity was reported as 1599.8, which represents a 2.4% change from the last report. Companies in the same sector and market capitalization will usually be affected by up to 4.3 percent by this parameter. These metrics are all the more impressive relative to their peers and should support an upswing in their stock price. Therefore, its equity movement component earned a score of 81. That said, one metric, Liabilities, stood out as particularly concerning. Cirrus Logic's liabilities stood at 523.6 in the current filing, which represents a 3.6% change from the previous report. This performance is relatively weak in comparison to their peers and suggests that its's stock price will likely suffer until this is solved. Discouraging results like these statistically lead to negative movement in stock prices, so we rated their liabilities movement component 73. Therefore, we scored the company's balance sheet a 86.

Parameter Value Change Score
Assets 2,123.4 2.7% 76
Liabilities 523.6 3.6% 73
Price to Book 2.5 -26.5% 74
Cash & Equivalents 369.8 89.5% 96
Equity 1,599.8 2.4% 81
* All values are TTM

The below chart describes Cirrus Logic's performance as reflected on its balance sheet with respect to its peers. While Cirrus Logic received a balance sheet score of 86, the average of its peers stands on 73.0.

  •  CRUS
  •  Peers average
Name Market Cap Liabilities Movement Asset Change Equity/Intangibles Adjustments Cash & Equivalents Book Value Momentum Balance Sheet mc_sort Hidden
NVIDIA Corporation 422.4B 78 70 65 97 54 71 0 1
Intel Corporation 157.9B 65 69 76 90 81 77 1 1
Texas Instruments Incorporated 143.5B 63 70 87 46 84 76 2 1
QUALCOMM Incorporated 142.4B 57 71 96 80 81 82 3 1
Advanced Micro Devices, Inc. 139.6B 94 61 78 96 81 88 4 1
Broadcom Inc. 102.5B 67 79 59 56 54 62 5 1
Applied Materials, Inc. 84.9B 71 72 64 41 55 60 6 1
Analog Devices, Inc. 78.3B 62 80 66 65 66 69 7 1
Micron Technology, Inc. 65.6B 73 69 85 76 74 81 8 1
Lam Research Corporation 62.4B 73 77 59 51 45 59 9 1
KLA Corporation 50.5B 75 62 73 53 66 66 10 1
NXP Semiconductors N.V. 41.7B 72 68 56 62 76 64 11 1
Marvell Technology, Inc. 40.5B 71 84 50 46 51 60 12 1
Microchip Technology Incorporated 33.6B 65 84 76 72 65 78 13 1
GLOBALFOUNDRIES Inc. 24.5B 81 66 73 82 74 78 14 1
ON Semiconductor Corporation 23.5B 74 69 77 88 82 81 15 1
Monolithic Power Systems, Inc. 19.4B 85 65 75 92 80 84 16 1
SolarEdge Technologies, Inc. 16.5B 77 62 77 96 86 82 17 1
Skyworks Solutions, Inc. 15.8B 69 77 64 46 52 62 18 1
Teradyne, Inc. 15.7B 48 81 63 45 47 51 19 1
Entegris, Inc. 14.2B 62 71 75 55 79 70 20 1
Qorvo, Inc. 10.6B 64 83 64 67 55 67 21 1
First Solar, Inc. 7.5B 77 70 50 58 57 58 22 1
Lattice Semiconductor Corporation 7.2B 53 79 79 60 64 68 23 1
MKS Instruments, Inc. 6.0B 59 74 72 76 72 70 24 1
Universal Display Corporation 5.4B 57 76 83 85 70 75 25 1
Silicon Laboratories Inc. 5.3B 89 81 60 45 47 71 26 1
CMC Materials, Inc. 5.2B 65 79 73 87 82 80 27 1
Tower Semiconductor Ltd. 5.1B 68 72 69 61 57 65 28 1
Synaptics Incorporated 5.1B 71 71 78 92 76 81 29 1
Power Integrations, Inc. 4.5B 55 82 59 79 56 61 30 1
Amkor Technology, Inc. 4.3B 70 68 75 74 77 74 31 1
Allegro MicroSystems, Inc. 4.1B 68 69 74 80 76 74 32 1
Semtech Corporation 3.6B 58 79 68 67 64 67 33 1
MACOM Technology Solutions Holdings, Inc. 3.4B 64 75 74 38 75 69 34 1
SunPower Corporation 3.2B 72 81 42 83 53 61 35 1
FormFactor, Inc. 3.1B 72 70 84 82 80 83 36 1
Diodes Incorporated 3.1B 46 78 71 51 72 61 37 1
Silicon Motion Technology Corporation 2.9B 40 85 60 40 47 54 38 1
Nova Ltd. 2.8B 86 45 76 48 82 61 39 1
MaxLinear, Inc. 2.7B 68 71 75 85 75 76 40 1
Ambarella, Inc. 2.7B 45 75 74 86 65 63 41 1
Kulicke and Soffa Industries, Inc. 2.7B 45 83 61 76 56 57 42 1
Rambus Inc. 2.4B 43 82 41 95 54 48 43 1
Canadian Solar Inc. 2.2B 91 54 59 62 62 58 44 1
Axcelis Technologies, Inc. 1.9B 76 68 85 71 74 81 45 1
Credo Technology Group Holding Ltd 1.7B 94 61 77 79 86 88 46 1
Himax Technologies, Inc. 1.6B 78 55 91 85 95 77 47 1
Impinj, Inc. 1.4B 62 68 78 39 92 72 48 1
Ultra Clean Holdings, Inc. 1.4B 55 78 68 48 68 63 49 1
Cohu, Inc. 1.4B 52 82 57 59 59 57 50 1
Photronics, Inc. 1.3B 53 85 66 76 66 68 51 1
SMART Global Holdings, Inc. 1.1B 90 63 75 95 82 86 52 1
Veeco Instruments Inc. 1.0B 84 72 41 78 47 58 53 1
Alpha and Omega Semiconductor Limited 957.1M 89 64 67 87 67 77 54 1
PDF Solutions, Inc. 813.0M 54 81 64 90 51 62 55 1
CEVA, Inc. 804.5M 82 74 60 87 60 73 56 1
Ichor Holdings, Ltd. 789.3M 59 76 65 38 63 59 57 1
Maxeon Solar Technologies, Ltd. 603.6M 87 68 40 78 38 53 58 1
Enphase Energy, Inc. 27.8B 89 61 39 97 55 58 59 1
Wolfspeed, Inc. 8.7B 96 63 58 97 56 73 60 1
Daqo New Energy Corp. 5.4B 92 62 81 95 93 93 61 1
SiTime Corporation 3.8B 57 67 65 73 64 58 62 1
Onto Innovation Inc. 3.7B 84 71 67 72 73 77 63 1
JinkoSolar Holding Co., Ltd. 3.3B 87 62 77 94 94 89 64 1
Camtek Ltd. 1.1B 63 61 82 37 90 66 65 1
ACM Research, Inc. 950.7M 87 57 51 43 50 52 66 1
NeoPhotonics Corporation 837.4M 89 66 49 72 64 66 67 1
Hanwha Q CELLS Co., Ltd. 818.9M 60 93 47 85 74 72 68 1
indie Semiconductor, Inc. 752.7M 49 54 72 56 56 44 69 1
Magnachip Semiconductor Corporation 681.9M 56 78 79 72 72 74 70 1
Mykrolis Corp. 657.1M 77 53 73 92 79 72 71 1
Navitas Semiconductor Corporation 575.2M 37 80 80 62 80 67 72 1
Rigetti Computing, Inc. 426.1M 94 62 85 99 98 98 73 1
ChipMOS TECHNOLOGIES (Bermuda) LTD. 417.9M 60 71 61 60 69 56 74 1
Meta Materials Inc. 414.9M 51 78 42 41 51 41 75 1
Helix Technology Corporation 364.9M 66 77 79 85 52 65 76 1
Valens Semiconductor Ltd. 350.3M 92 70 66 45 73 75 77 1
Rockley Photonics Holdings Limited 338.0M 48 82 40 37 52 41 78 1
CyberOptics Corporation 278.5M 71 66 72 64 86 74 79 1
Transphorm, Inc. 260.9M 41 87 39 47 55 45 80 1

Income Statement Analysis

Return Factors and EBITDA stand out as the most significant drivers of Cirrus Logic's income statement's strength. In this filing, Cirrus Logic reported a return on equity (ROE) ratio of 21.8, which represents a change of 26.8%. These numbers show that management has successfully encouraged growth while managing ROE and ROA metrics, especially relative to their peers. Therefore, its return factors component earned a score of 93. Also, Cirrus Logic reported impressive EBITDA this period. At filing, EBITDA was reported as 448.3, representing 24.6% change from the previous period. Companies in the same industry and market capitalization are typically affected by this parameter by up to 13.2%. The company is headed in the right direction regarding EBITDA, exhibiting efficient capital controls and strong overall financial performance. Therefore, its EBITDA component earned a score of 92. At the same time, one critical income statement metric, Revenue Efficiency, was notably weak. Cirrus Logic's revenue efficiency metrics look especially concerning this period, highlighting issues management is having controlling and reducing expenses while increasing earnings. This metric might have a 18.5 percent impact on companies in the same industry and with the same market capitalization. Their revenue efficiency, specifically in contrast to their industry peers', isn't encouraging. Consequently, their revenue efficiency received a grade of 42. Therefore, it received a score of 67.

Parameter Value Change Score
EBITDA 448.3 24.6% 92
Total Revenues 1,781.5 12.4% 42
Return on Equity 21.8 26.8% 93
* All values are TTM

The below chart describes Cirrus Logic's performance as reflected on its income statement with respect to its peers. While Cirrus Logic received a income statement score of 67 , the average of its peers stands on 69.0.

  •  CRUS
  •  Peers average
Name Market Cap Revenue Momentum Earning Movement Return Factors Momentum Income Statement mc_sort Hidden
NVIDIA Corporation 422.4B 46 83 68 63 0 1
Intel Corporation 157.9B 90 55 73 76 1 1
Texas Instruments Incorporated 143.5B 69 78 71 74 2 1
QUALCOMM Incorporated 142.4B 48 87 79 66 3 1
Advanced Micro Devices, Inc. 139.6B 40 89 38 59 4 1
Broadcom Inc. 102.5B 59 80 90 71 5 1
Applied Materials, Inc. 84.9B 72 68 73 72 6 1
Analog Devices, Inc. 78.3B 40 91 93 65 7 1
Micron Technology, Inc. 65.6B 59 88 90 74 8 1
Lam Research Corporation 62.4B 80 63 75 74 9 1
KLA Corporation 50.5B 56 77 77 67 10 1
NXP Semiconductors N.V. 41.7B 59 79 90 71 11 1
Marvell Technology, Inc. 40.5B 41 89 88 64 12 1
Microchip Technology Incorporated 33.6B 57 83 92 71 13 1
GLOBALFOUNDRIES Inc. 24.5B 50 93 85 70 14 1
ON Semiconductor Corporation 23.5B 53 92 94 73 15 1
Monolithic Power Systems, Inc. 19.4B 45 90 83 66 16 1
SolarEdge Technologies, Inc. 16.5B 41 70 48 53 17 1
Skyworks Solutions, Inc. 15.8B 69 70 63 70 18 1
Teradyne, Inc. 15.7B 88 57 62 75 19 1
Entegris, Inc. 14.2B 56 80 80 69 20 1
Qorvo, Inc. 10.6B 76 65 63 71 21 1
First Solar, Inc. 7.5B 98 43 40 73 22 1
Lattice Semiconductor Corporation 7.2B 54 88 89 71 23 1
MKS Instruments, Inc. 6.0B 78 66 65 74 24 1
Universal Display Corporation 5.4B 71 63 61 68 25 1
Silicon Laboratories Inc. 5.3B 44 96 98 70 26 1
CMC Materials, Inc. 5.2B 72 76 93 76 27 1
Tower Semiconductor Ltd. 5.1B 63 87 82 79 28 1
Synaptics Incorporated 5.1B 45 91 90 68 29 1
Power Integrations, Inc. 4.5B 80 76 83 80 30 1
Amkor Technology, Inc. 4.3B 63 76 77 70 31 1
Allegro MicroSystems, Inc. 4.1B 68 48 67 61 32 1
Semtech Corporation 3.6B 64 84 87 75 33 1
MACOM Technology Solutions Holdings, Inc. 3.4B 74 77 73 76 34 1
SunPower Corporation 3.2B 49 43 72 49 35 1
FormFactor, Inc. 3.1B 79 76 83 80 36 1
Diodes Incorporated 3.1B 66 84 86 76 37 1
Silicon Motion Technology Corporation 2.9B 54 83 78 72 38 1
Nova Ltd. 2.8B 41 89 78 70 39 1
MaxLinear, Inc. 2.7B 56 92 96 75 40 1
Ambarella, Inc. 2.7B 56 89 79 71 41 1
Kulicke and Soffa Industries, Inc. 2.7B 73 82 85 79 42 1
Rambus Inc. 2.4B 48 85 62 64 43 1
Canadian Solar Inc. 2.2B 73 76 53 72 44 1
Axcelis Technologies, Inc. 1.9B 44 91 91 67 45 1
Credo Technology Group Holding Ltd 1.7B 38 88 63 60 46 1
Himax Technologies, Inc. 1.6B 53 84 66 70 47 1
Impinj, Inc. 1.4B 64 53 52 59 48 1
Ultra Clean Holdings, Inc. 1.4B 53 73 71 63 49 1
Cohu, Inc. 1.4B 92 53 49 75 50 1
Photronics, Inc. 1.3B 55 86 92 71 51 1
SMART Global Holdings, Inc. 1.1B 48 86 68 65 52 1
Veeco Instruments Inc. 1.0B 66 84 91 76 53 1
Alpha and Omega Semiconductor Limited 957.1M 62 75 76 69 54 1
PDF Solutions, Inc. 813.0M 49 95 89 71 55 1
CEVA, Inc. 804.5M 51 90 97 71 56 1
Ichor Holdings, Ltd. 789.3M 72 60 55 67 57 1
Maxeon Solar Technologies, Ltd. 603.6M 50 49 60 49 58 1
Enphase Energy, Inc. 27.8B 45 74 55 57 59 1
Wolfspeed, Inc. 8.7B 49 90 86 69 60 1
Daqo New Energy Corp. 5.4B 37 96 94 65 61 1
SiTime Corporation 3.8B 39 93 78 64 62 1
Onto Innovation Inc. 3.7B 47 87 89 67 63 1
JinkoSolar Holding Co., Ltd. 3.3B 38 89 81 62 64 1
Camtek Ltd. 1.1B 50 81 71 68 65 1
ACM Research, Inc. 950.7M 88 42 42 67 66 1
NeoPhotonics Corporation 837.4M 45 95 90 69 67 1
Hanwha Q CELLS Co., Ltd. 818.9M 90 59 63 70 68 1
indie Semiconductor, Inc. 752.7M 37 47 69 43 69 1
Magnachip Semiconductor Corporation 681.9M 94 80 88 90 70 1
Mykrolis Corp. 657.1M 68 68 58 67 71 1
Navitas Semiconductor Corporation 575.2M 56 45 72 53 72 1
Rigetti Computing, Inc. 426.1M 92 44 69 73 73 1
ChipMOS TECHNOLOGIES (Bermuda) LTD. 417.9M 87 49 76 66 74 1
Meta Materials Inc. 414.9M 37 45 70 43 75 1
Helix Technology Corporation 364.9M 89 47 51 74 76 1
Valens Semiconductor Ltd. 350.3M 41 86 65 65 77 1
Rockley Photonics Holdings Limited 338.0M 97 50 83 79 78 1
CyberOptics Corporation 278.5M 54 87 87 71 79 1
Transphorm, Inc. 260.9M 37 81 97 68 80 1

Cash Flow Analysis

Overall, Cirrus Logic's critical cash flow metrics appear to signal strong support and a high likelihood of positive growth going forward. Free cash flow numbers published by Cirrus Logic were 1.7, which was a 847.4% change from the previous filing. Companies in the same industry and market capitalization are typically affected by this parameter by up to 7.4%. Their free cash flow situation is all the more impressive relative to their peers and competitors. Consequently, their free cash flow movement received a grade of 98. Also, Cirrus Logic's published asset turnover numbers were encouraging and reflected management's balanced change strategy. Cirrus Logic recorded asset turnover of 0.9, which represents a 10.7% change from the previous report. Companies in the same sector and market capitalization will usually be affected by up to 10.7 percent by this parameter. Their asset turnover numbers are significantly more impressive when contrasted against their peers and competitors. Correspondingly, their asset turnover movement received a grade of 90. That said, one metric, Capital Expenditure, stood out as strongly negative. Cirrus Logic's published capital expenditures (CapEx) numbers were discouraging and reflected management's unbalanced growth strategy. Cirrus Logic recorded CapEx of -26.1, which represents a -6.2% change from the previous report. They appears to be headed in the wrong direction regarding resource allocation, exhibiting prudent capital expenditure growth compared to its peers. Its CapEx movement, therefore, received a grade of 61. Because the company's management is doing an excellent job managing these critical metrics, the cash flow was given a score of 91.

Parameter Value Change Score
Net Cashflow -72.4 45.3% 83
Capital Expenditure -26.1 -6.2% 61
Asset Turnover 0.9 10.7% 90
Free Cashflow 1.7 847.4% 98
* All values are TTM

The below chart describes Cirrus Logic's performance as reflected on its cash flow with respect to its peers. While Cirrus Logic received a cash flow score of 91, the average of its peers stands on 68.0.

  •  CRUS
  •  Peers average
Name Market Cap Cashflow Momentum Free Cashflow Growth Capital Expenditure Growth Assets Factors Momentum Cash Flow mc_sort Hidden
NVIDIA Corporation 422.4B 93 65 61 86 82 0 1
Intel Corporation 157.9B 57 72 68 53 58 1 1
Texas Instruments Incorporated 143.5B 74 74 63 69 70 2 1
QUALCOMM Incorporated 142.4B 65 65 70 87 77 3 1
Advanced Micro Devices, Inc. 139.6B 93 66 69 37 57 4 1
Broadcom Inc. 102.5B 74 76 87 89 85 5 1
Applied Materials, Inc. 84.9B 75 59 69 72 69 6 1
Analog Devices, Inc. 78.3B 78 76 51 94 84 7 1
Micron Technology, Inc. 65.6B 81 85 81 74 80 8 1
Lam Research Corporation 62.4B 72 60 56 75 68 9 1
KLA Corporation 50.5B 70 76 52 79 74 10 1
NXP Semiconductors N.V. 41.7B 59 72 51 85 73 11 1
Marvell Technology, Inc. 40.5B 94 84 58 46 65 12 1
Microchip Technology Incorporated 33.6B 80 79 48 84 79 13 1
GLOBALFOUNDRIES Inc. 24.5B 54 86 45 64 64 14 1
ON Semiconductor Corporation 23.5B 60 79 55 74 70 15 1
Monolithic Power Systems, Inc. 19.4B 84 78 59 75 77 16 1
SolarEdge Technologies, Inc. 16.5B 46 38 55 52 43 17 1
Skyworks Solutions, Inc. 15.8B 78 57 79 73 71 18 1
Teradyne, Inc. 15.7B 75 65 66 68 68 19 1
Entegris, Inc. 14.2B 60 57 50 77 65 20 1
Qorvo, Inc. 10.6B 78 65 87 71 73 21 1
First Solar, Inc. 7.5B 46 84 56 46 53 22 1
Lattice Semiconductor Corporation 7.2B 79 77 43 82 77 23 1
MKS Instruments, Inc. 6.0B 58 58 92 56 59 24 1
Universal Display Corporation 5.4B 74 81 68 65 71 25 1
Silicon Laboratories Inc. 5.3B 70 89 81 88 86 26 1
CMC Materials, Inc. 5.2B 72 66 68 80 75 27 1
Tower Semiconductor Ltd. 5.1B 76 57 55 58 68 28 1
Synaptics Incorporated 5.1B 85 62 98 55 67 29 1
Power Integrations, Inc. 4.5B 88 77 64 82 82 30 1
Amkor Technology, Inc. 4.3B 46 57 61 71 60 31 1
Allegro MicroSystems, Inc. 4.1B 56 56 77 56 56 32 1
Semtech Corporation 3.6B 79 78 58 79 78 33 1
MACOM Technology Solutions Holdings, Inc. 3.4B 46 78 54 78 69 34 1
SunPower Corporation 3.2B 84 41 39 93 74 35 1
FormFactor, Inc. 3.1B 78 81 66 58 68 36 1
Diodes Incorporated 3.1B 77 61 52 80 72 37 1
Silicon Motion Technology Corporation 2.9B 63 53 46 85 61 38 1
Nova Ltd. 2.8B 58 53 39 56 54 39 1
MaxLinear, Inc. 2.7B 90 92 80 81 88 40 1
Ambarella, Inc. 2.7B 84 95 45 75 80 41 1
Kulicke and Soffa Industries, Inc. 2.7B 93 81 83 74 83 42 1
Rambus Inc. 2.4B 96 73 89 89 90 43 1
Canadian Solar Inc. 2.2B 69 70 74 68 71 44 1
Axcelis Technologies, Inc. 1.9B 81 77 68 85 82 45 1
Credo Technology Group Holding Ltd 1.7B 60 85 37 43 53 46 1
Himax Technologies, Inc. 1.6B 66 77 48 79 67 47 1
Impinj, Inc. 1.4B 70 38 85 73 65 48 1
Ultra Clean Holdings, Inc. 1.4B 68 41 41 76 62 49 1
Cohu, Inc. 1.4B 92 62 71 44 59 50 1
Photronics, Inc. 1.3B 65 92 96 79 83 51 1
SMART Global Holdings, Inc. 1.1B 47 85 95 54 62 52 1
Veeco Instruments Inc. 1.0B 73 82 48 69 71 53 1
Alpha and Omega Semiconductor Limited 957.1M 49 64 45 59 54 54 1
PDF Solutions, Inc. 813.0M 81 98 45 92 89 55 1
CEVA, Inc. 804.5M 57 54 84 83 71 56 1
Ichor Holdings, Ltd. 789.3M 51 37 87 71 59 57 1
Maxeon Solar Technologies, Ltd. 603.6M 87 90 59 88 84 58 1
Enphase Energy, Inc. 27.8B 89 77 64 40 60 59 1
Wolfspeed, Inc. 8.7B 57 74 76 46 55 60 1
Daqo New Energy Corp. 5.4B 78 86 63 96 89 61 1
SiTime Corporation 3.8B 83 87 56 44 62 62 1
Onto Innovation Inc. 3.7B 95 65 88 85 85 63 1
JinkoSolar Holding Co., Ltd. 3.3B 67 69 73 78 74 64 1
Camtek Ltd. 1.1B 69 70 74 72 71 65 1
ACM Research, Inc. 950.7M 62 43 50 54 50 66 1
NeoPhotonics Corporation 837.4M 50 63 67 87 72 67 1
Hanwha Q CELLS Co., Ltd. 818.9M 64 63 74 73 68 68 1
indie Semiconductor, Inc. 752.7M 69 80 52 98 85 69 1
Magnachip Semiconductor Corporation 681.9M 65 56 76 54 57 70 1
Mykrolis Corp. 657.1M 65 69 68 82 75 71 1
Navitas Semiconductor Corporation 575.2M 70 87 94 93 90 72 1
Rigetti Computing, Inc. 426.1M 48 76 51 60 58 73 1
ChipMOS TECHNOLOGIES (Bermuda) LTD. 417.9M 66 64 68 94 73 74 1
Meta Materials Inc. 414.9M 85 56 68 97 84 75 1
Helix Technology Corporation 364.9M 75 62 63 56 61 76 1
Valens Semiconductor Ltd. 350.3M 53 89 90 46 66 77 1
Rockley Photonics Holdings Limited 338.0M 80 72 66 46 59 78 1
CyberOptics Corporation 278.5M 49 74 89 78 72 79 1
Transphorm, Inc. 260.9M 81 87 96 94 88 80 1

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