This page has not been authorized, sponsored, or otherwise approved or endorsed by the companies represented herein. Shares of CDNS have returned 12.1% in the past year. The long-term earnings growth rate of the company is pegged at 18.2%.Ĭadence’s earnings beat the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 11%. The Zacks Consensus Estimate for Cadence 2021 earnings is pegged at $3.25 per share. Shares of AAPL have rallied 30.2% in the past year. The long-term earnings growth rate of the company is pegged at 12.5%.Īpple’s earnings beat the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 20.3%. The Zacks Consensus Estimate for Apple’s fiscal 2022 earnings is pegged at $6.03 per share. Shares of Broadcom have increased 26.5% in the past year. The long-term earnings growth rate of the company is pegged at 14.5%.īroadcom’s earnings beat the Zacks Consensus Estimate in all the preceding four quarters, the average surprise being 1.41%. The Zacks Consensus Estimate for Broadcom’s fiscal 2022 earnings is pegged at $33.03 per share. You can see the complete list of today’s Zacks #1 Rank stocks here. While Broadcom and Apple sport a Zacks Rank #1 (Strong Buy), Cadence carries a Zacks Rank #2 (Buy). #GROSS BEAT TUTORIAL FREE#Some better-ranked stocks from the broader technology sector include Broadcom ( AVGO Quick Quote AVGO - Free Report), Apple ( AAPL Quick Quote AAPL - Free Report) and Cadence Design Systems ( CDNS Quick Quote CDNS - Free Report). Zacks Rank & Other Key PicksĬirrus currently carries a Zacks Rank #2 (Buy). Gross margin is expected in the range of 51-53%. At the mid-point, the guidance suggests growth of approximately 43% year over year. Outlookįor fourth-quarter fiscal 2022, the company projects revenues between $400 million and $440 million. As of Dec 25, 2021, the company has $267.5 million worth of shares remaining under its existing share repurchase authorization. The company repurchased 500,783 shares worth $40 million in the quarter under review. The company exited the fiscal third quarter with cash and marketable securities of $198.8 million compared with the $394.9 million seen at the end of the previous quarter.Īccounts receivables were $326.1 million compared with $281 million recorded in the prior quarter.ĭuring the fiscal third quarter, the company reported $135.9 million as cash used from operations. Moreover, non-GAAP operating margin expanded 180 bps to 31.8%. Non-GAAP operating income of $174.2 million increased 19.4% year over year. Non-GAAP gross margin expanded 100 basis points (bps) to 52.8%.Ĭirrus Logic’s non-GAAP operating expenses rose 9.2% year over year to $115.5 million. Non-GAAP gross profit of $289.8 million climbed 15.1% on a year-over-year basis. The Audio segment sales declined 10.5% to $341.9 million and made up 62.4% of the total revenues. During the first nine months of fiscal 2022, the segment contributed 33% to total revenues. Revenues from the same division surged 98.7% year over year to $206.5 million on solid strong demand for its camera controllers, haptics & sensing and recently acquired fast-charging solutions. The Texas-based company rearranged its reportable segments and created a separate category during fourth-quarter fiscal 2021, namely High-Performance Mixed-Signal and Audio.Ĭirrus Logic’s High-Performance Mixed-Signal segment includes a few of its non-audio products and contributed 37.6% to total revenues in the fiscal third quarter. #GROSS BEAT TUTORIAL ANDROID#As part of its strategic initiatives, the company is consistently focused on strengthening presence among its Android customers and ramping up shipments for the leading laptop original equipment manufacturers (“OEMs”). QuoteĪlong with increasing investments in R&D, Cirrus Logic is accelerating sales momentum and executing strategic initiatives, which will help achieve sustainable growth over the next year. price-consensus-eps-surprise-chart | Cirrus Logic, Inc. Price, Consensus and EPS SurpriseĬirrus Logic, Inc.
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