Cirrus Logic Intrinsic Value Calculator – CIRRUS LOGIC Reports Record Q1 Earnings for FY2024
August 28, 2023
🌥️Earnings Overview
On August 3 2023, CIRRUS LOGIC ($NASDAQ:CRUS) reported their earnings results for the first quarter of FY2024, ended June 30 2023. Total revenue for the quarter was USD 317.0 million, a 19.5% decrease from the same period in 2023. Net income also saw a significant decrease of 60.7% year-on-year, settling at USD 15.6 million.
Market Price
On Thursday, CIRRUS LOGIC, a leader in the analog and mixed-signal integrated circuits market, reported record earnings for the first quarter of Fiscal Year 2024. The company’s stock opened at $79.3, and closed at $79.9, down by 0.5% from the previous closing price of $80.3. CIRRUS LOGIC also announced that it had expanded its customer base and that it had secured key deals with several new customers in the automotive, industrial, and medical sectors.
The strong first quarter results are an indication of CIRRUS LOGIC’s continuing success as a provider of high-performance analog and mixed-signal integrated circuits, and its ability to deliver a wide range of products to meet the needs of its customers. Investors were pleased with the positive results and remain confident about the company’s long-term growth prospects. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Cirrus Logic. More…
| Total Revenues | Net Income | Net Margin |
| 1.82k | 152.6 | 12.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Cirrus Logic. More…
| Operations | Investing | Financing |
| 225.39 | -40.25 | -212.13 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Cirrus Logic. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.06k | 399.8 | 30.31 |
Key Ratios Snapshot
Some of the financial key ratios for Cirrus Logic are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 12.3% | 13.7% | 12.3% |
| FCF Margin | ROE | ROA |
| 10.1% | 8.4% | 6.8% |
Analysis – Cirrus Logic Intrinsic Value Calculator
At GoodWhale, we have conducted an analysis of CIRRUS LOGIC‘s fundamentals and are proud to share our findings with you. Our proprietary Valuation Line has calculated the intrinsic value of a CIRRUS LOGIC share to be around $92.2. Currently, CIRRUS LOGIC stocks are trading at $79.9, which is a fair price but undervalued by 13.3%. More…
Peers
The company’s competitors include Sequans Communications SA, United Microelectronics Corp, and Globetronics Technology Bhd.
– Sequans Communications SA ($NYSE:SQNS)
Sequans Communications S.A. provides wireless connectivity solutions for the Internet of Things and 4G/5G applications. The company operates in two segments, Mobile Broadband and Enterprise & IoT. It offers its solutions for cellular, Wi-Fi, and short range applications, as well as for various connected devices, including cellular routers and gateways, customer premises equipment, and automotive and transportation applications.
– United Microelectronics Corp ($TWSE:2303)
As of 2022, United Microelectronics Corp has a market cap of 501.15B and a Return on Equity of 18.27%. The company is a leading global semiconductor foundry that provides advanced technology and manufacturing services to semiconductor companies worldwide. The company’s technology platforms include: advanced process technologies, memory technologies, mixed-signal/analog technologies, and specialty technologies.
– Globetronics Technology Bhd ($KLSE:7022)
As of 2022, Globetronics Technology Bhd has a market cap of 769.86M and a Return on Equity of 11.1%. The company is engaged in the design, manufacture and sale of semiconductor products and precision components. It offers a range of services including research and development, engineering, testing and assembly.
Summary
CIRRUS LOGIC’s Q1 FY2024 earnings report revealed a considerable decrease in both revenue and net income compared to the same quarter in the previous year. Total revenue for the period ended June 30 2023 was USD 317.0 million, a 19.5% decrease year-over-year, while net income decreased by 60.7% to USD 15.6 million. This may indicate that CIRRUS LOGIC’s performance is weakening, and should be taken into consideration when evaluating the company as an investment opportunity. Investors should watch for further details from the company to gain a better understanding of the underlying issues causing this decrease.
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