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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Sam who wrote (86407)

2/1/2021 7:42:47 PM

From: Sam

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Cirrus Logic Fiscal Q3 Results Top Street Estimates; Fiscal Q4 Revenue Guidance in Line
MT NEWSWIRES 4:12 PM ET 2/1/2021

Symbol Last Price Change

CRUS	97.86	+4.17 (+4.4508%)
QUOTES AS OF 04:00:00 PM ET 02/01/2021

04:12 PM EST, 02/01/2021 (MT Newswires) -- Cirrus Logic(CRUS) reported after markets closed Monday fiscal Q3 non-GAAP EPS of $2.13, up from $1.41 a year earlier. That surpassed the $1.86 average estimate of analysts polled by Capital IQ.

The US chipmaker also reported revenue of $485.8 million for the three months ended Dec. 26, up from $374.7 million a year earlier. That result also exceeded the consensus estimate of $460.9 million.

Looking ahead, Cirrus Logic(CRUS) said it anticipates fiscal Q4 revenue to be in a range of $280 million to $320 million. Wall Street was looking for $298.4 million.

Further, the company said it has recently authorized the buyback of up to an additional $350 million of its common stock, in addition to the $55 million remaining from the prior authorization set in January 2019.

Shares of Cirrus Logic(CRUS) fell more than 5% in after-hours trade.

Price: 91.50, Change: -6.36, Percent Change: -6.50