Welcome to our dedicated page for Cirrus Logic news (Ticker: CRUS), a resource for investors and traders seeking the latest updates and insights on Cirrus Logic stock.
Cirrus Logic Inc. (symbol: CRUS) is a pioneering company in the design and development of high-performance, low-power integrated circuits (ICs) tailored for audio and voice signal processing applications. The company offers a comprehensive range of products that span the entire audio signal chain, from capture to playback. These innovative solutions are widely utilized in world-leading smartphones, tablets, digital headsets, wearables, and emerging smart home applications.
Headquartered in Austin, Texas, Cirrus Logic has earned global recognition for its award-winning corporate culture. Established in 1984, the company excels at developing sophisticated chip designs that prioritize feature integration and innovation. As of now, Cirrus Logic holds over 2,100 patents, which are integral to its more than 700 products serving over 2,500 end customers worldwide. The company engages in direct sales as well as distributor-based channel sales.
The core business of Cirrus Logic is divided into two main streams: portable audio products and non-portable audio and other products. These categories include analog and mixed-signal components that target mobile devices, smart homes, and various applications in the automotive, energy, and industrial markets. The firm's revenue is geographically diversified, with approximately half generated in China and the remaining from regions including the United States, Europe, South Korea, and other countries around the globe.
Recent developments at Cirrus Logic include key partnerships and collaborations aimed at enhancing product capabilities and expanding market reach. Financially, the company maintains a robust condition, supported by steady revenue growth and strategic initiatives that drive innovation.
For the latest updates, financial performance, and news related to Cirrus Logic, visit their official website at www.cirrus.com.
Cirrus Logic (NASDAQ: CRUS) reported fiscal Q1 2025 revenue of $374.0 million, exceeding guidance due to stronger-than-expected smartphone shipments. The company began production of custom boosted amplifiers and 22nm smart codecs for upcoming smartphone launches. GAAP EPS was $0.76, while non-GAAP EPS reached $1.12. Gross margin stood at 50.5% (GAAP) and 50.6% (non-GAAP).
For Q2 FY25, Cirrus Logic forecasts revenue between $490 million and $550 million, with GAAP gross margin expected to be 50-52%. The company is focusing on product and end-market diversification, seeing strong design activity in laptops and introducing new data converters for various applications.
Cirrus Logic (NASDAQ: CRUS) has announced it will release its first quarter fiscal year 2025 financial results and business outlook on Tuesday, August 6, at approximately 4 p.m. EDT. The information will be available on the company's Investor Relations website. Following the release, Cirrus Logic will host a live Q&A webcast session at 5 p.m. EDT to address questions related to the financial results and business outlook. For those unable to attend the live session, a replay will be available on the website shortly after the call's completion. Alternatively, interested parties can access the replay by dialing (609) 800-9909 or toll-free at (800) 770-2030 (Access Code: 95424).
Cirrus Logic (Nasdaq: CRUS) has launched new digital-to-analog converters (DACs) and an ultra-high-performance audio CODEC, enhancing its Pro Audio product family. The new devices, including the CS4308P, CS4304P, CS4302P DACs, and CS4282P CODEC, offer superior audio fidelity targeted at musicians, live entertainers, and recording engineers. These products feature hybrid gain control, advanced digital filters, and high efficiency, with power consumption as low as 10 mW/ch and sample rates up to 768 kHz. The CS4304/8P DACs and CS4282P CODEC are available for order now, while the CS4302P DAC will be available later in the year.
Cirrus Logic (Nasdaq: CRUS) has announced participation in two upcoming investor conferences. CEO John Forsyth will present at the Cowen 52nd Annual Technology, Media & Telecom Conference in New York on May 29 at 9:05 a.m. EDT and at the Stifel 2024 Cross Sector Insight Conference in Boston on June 4 at 8:35 a.m. EDT. The presentations will be webcast live and available for replay on the company's investor relations website. Cirrus Logic specializes in low-power, high-precision mixed-signal processing solutions for mobile and consumer applications and is based in Austin, Texas.
Cirrus Logic (NASDAQ: CRUS) announced the nomination of William D. Mosley for election to its board of directors at the 2024 Annual Meeting scheduled for July 26, 2024. Mosley, who has been the CEO of Seagate Technology since October 2017, brings extensive experience in global operations, technology, R&D, sales, and marketing. The announcement also includes the retirement of Tim Dehne, a board member since 2009, who will not stand for reelection. Cirrus Logic, known for its low-power, high-precision mixed-signal processing solutions, is headquartered in Austin, Texas.
Jacobs (NYSE:J) has appointed Venk Nathamuni as its new Chief Financial Officer, effective June 3, 2024. Nathamuni brings over 30 years of experience, including 15 years in executive finance roles, and will oversee Jacobs' financial operations, capital allocation, and investor relations. He previously served as CFO at Cirrus Logic, a $6 billion semiconductor company. Jacobs CEO Bob Pragada emphasized Nathamuni's strategic vision and leadership. Interim CFO Kevin Berryman will assist in the transition and continue as Special Advisor to the CEO. Nathamuni holds an MBA from Wharton and degrees in engineering from SUNY Stony Brook and Madurai Kamaraj University, India.
Cirrus Logic (NASDAQ: CRUS) announced that CFO Venk Nathamuni will resign effective May 24, 2024, to pursue an opportunity outside the semiconductor industry. The Board has appointed Ulf Habermann, Principal Accounting Officer, as interim CFO. Habermann, with 22 years at Cirrus Logic, has held roles such as Controller, Treasurer, and VP of Finance. This transition aims to ensure continuity while the company searches for a permanent CFO. Cirrus Logic specializes in low-power, high-precision mixed-signal processing solutions for mobile and consumer applications and is based in Austin, Texas.
Cirrus Logic, Inc. (NASDAQ: CRUS) reported revenue of $371.8 million for the fourth quarter and $1.79 billion for full fiscal year 2024. The company highlighted progress in product development, increased non-GAAP earnings per share, and positive business outlook for growth and diversification.
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