📈 Price History

Ratio Health

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By Category

📊 Sector Averages

About

Cirrus Logic, Inc., a fabless semiconductor company, develops mixed-signal processing solutions and audio products in China, the United States, and internationally.

Key Ratios Snapshot

📈 Growth Pattern

⚡ Latest Quarter —

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📊 Quick Scorecard

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⭐ Superinvestors Holding CRUS

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Manager	Shares	Value	% of Fund	Period
Jim Simons Renaissance Technologies LLC	226.5K	$32.8M	0.05%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔍 Concall Decoded

🎙 Management Tone Tracker Confident Specific → Stable 4 quarters analysed

Q1 2026

Confident Specific

Management used precise language: 'revenue of $407.3 million, above the top end of our guidance range', 'strong end demand', 'shipping more content in smartphones than ever before', and cited specific product milestones (22nm codec, camera controller growth, PC design wins).

Q2 2026

Confident Specific

Management uses strong positive language: 'record revenue', 'top end of guidance', 'excellent progress across each pillar', and provides granular details on strategy, design wins, and financial metrics. However, tone is guarded when discussing the largest customer, repeatedly citing company policy to avoid specifics.

Q3 2026

Confident Specific

Management used phrases like 'outstanding results', 'record GAAP and non-GAAP earnings per share', and 'extremely pleased with our progress' while providing detailed quantitative guidance and explicit growth milestones (e.g., 'doubling mainstream platforms in FY2027', 'over 60 SDCA programs in FY2027').

Q4 2026 latest

Confident Specific

Management repeatedly used phrases like 'record revenue of $2 billion', 'record GAAP and non-GAAP EPS', 'strongest pipeline of opportunities in recent history', and 'we believe these investments will generate substantial returns'. The tone was assertive with specific figures and milestones.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis is stronger after this call. Record revenue and EPS, combined with a Q1 guide above typical seasonality, suggest underlying demand is robust. The PC business is scaling quickly and becoming a meaningful growth driver, with SDCA adoption providing a multi-year tailwind. The new Face ID power socket expands the TAM beyond audio and camera controllers, though it is still 2+ years from revenue. The increased R&D spend signals management's confidence in the pipeline, but investors should monitor gross margin trends (expected to dip slightly in Q1) and the pace of new product ramps. Next quarter watch: actual revenue vs. guidance, gross margin execution, and any updates on the PC market environment.

AI-generated concall tone analysis · Updated 2026-06-08 · Not investment advice

🎙 Management Tone Confident Specific → Stable 4 quarters Full tone analysis in Intelligence →

📊 MIXED Cirrus Logic reports record FY2026 revenue of $2B, up 5% YoY, driven by smartphone and PC demand.

Revenue & Profitability

Q4 FY2026 revenue was $448.5 million, above guidance midpoint, up 6% YoY. Full fiscal year 2026 revenue was a record $2 billion, up 5% from the prior year. Non-GAAP net income for FY2026 was $489.3 million, with record EPS of $9.26. Non-GAAP operating income was $548.8 million, and operating margin improved to 27.5% from 26.5% a year ago.

Outlook

Management sees robust demand for components shipping into smartphones and PCs, with strong design momentum across the PC portfolio. They expect the PC market may see some pullback, but believe Cirrus can still deliver strong growth due to positioning with top OEMs and higher-tier devices. Voice and AI-enabled PCs are viewed as key enablers for future edge-device interactions.

Growth Drivers

Key growth levers include expanding HPMS content in smartphones (camera controllers, next-generation power ICs for Face ID), strong PC revenue growth driven by the SDCA audio interface transition (SDCA revenue tripled in FY2026 and is expected to reach ~80% of PC revenue in FY2027), and new general market product families in professional audio, automotive, industrial imaging, and power solutions. PC revenue grew from low tens of millions in FY2025 to the 40s in FY2026.

Balance Sheet & CapEx

CapEx in Q4 FY2026 was $2.4 million, and for full fiscal year 2026 it was $14.8 million. Management plans to increase R&D investment throughout FY2027 to capitalize on a strong pipeline of opportunities. Specific investments include collaboration with GlobalFoundries for next-generation high-voltage process technologies and U.S.-based fabrication.

Margins

Non-GAAP gross margin for Q4 FY2026 was 53%, down YoY due to higher freight expenses. For full FY2026, gross margin was 52.8%, up from the prior year due to favorable product mix. Non-GAAP operating margin for FY2026 was 27.5%, up from 26.5%. Guidance for Q1 FY2027 implies gross margin of 51%-53% and operating expenses of $132-$138 million as R&D spending increases.

Key Risks

Risks flagged include customer concentration (policy prevents discussing specifics with largest customer), potential PC market pullback due to memory shortages and broader industry softness, and higher freight expenses impacting margins. Management also noted that general market products take time to scale and may not move the needle in a single year.

Generated by AI · Q4 2026 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

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📞 Earnings Call Transcripts (5)

Q1 2027 Q1 2027 2026-08-05

Record Q1 revenue and EPS were driven by strong smartphone and HPMS demand, with robust cash flow and no debt. Guidance for Q2 anticipates higher revenue and a temporary gross margin boost, while R&D investment and new product launches support long-term growth.

Q4 2026 Q4 2026 2026-05-06

Record FY26 revenue and EPS driven by smartphone and PC demand, with strong growth in HPMS and general market products. FY27 guidance anticipates continued revenue growth and increased R&D investment, despite potential PC market headwinds.

Q3 2026 Q3 2026 2026-02-03

Record Q3 revenue and earnings were driven by strong smartphone demand and favorable mix, with robust cash flow and continued investment in PC, automotive, and AI-enabled markets. Guidance for Q4 remains strong, and new product launches are expected to drive future growth.

Q2 2026 Q2 2026 2025-11-04

Record Q2 revenue of $561 million was driven by strong smartphone demand and new product launches, with continued expansion in the PC market and high-margin general market products. Guidance for Q3 projects revenue of $500–$560 million and gross margin of 51%–53%.

Q1 2026 Q1 2026 2025-08-05

Revenue for the June quarter exceeded expectations, driven by strong smartphone demand and increased content per device. Guidance for Q2 is robust, with continued focus on diversification into laptops and automotive, and strong cash flow and share repurchases supporting shareholder value.

📊 Analysis Methodology

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