Cirrus Logic Q2 profit beats estimates on demand for components in smartphones

Overview

• Cirrus Logic fiscal Q2 revenue grows to $561 mln, beating analyst expectations

• Adjusted EPS for fiscal Q2 beats consensus, reflecting strong performance

• Company expands into new markets, securing first mainstream consumer laptop design

Outlook

• Company expects Q3 FY26 revenue between $500 mln and $560 mln

• Cirrus Logic forecasts Q3 FY26 GAAP gross margin of 51% to 53%

• Company anticipates Q3 FY26 non-GAAP operating expenses between $128 mln and $134 mln

Result Drivers

• SMARTPHONE COMPONENT DEMAND - Record revenue driven by demand for components in smartphones, per CEO John Forsyth

• PC MARKET EXPANSION - Co secured first mainstream consumer laptop design and expanded collaboration with leading PC vendors

• INCREASED CUSTOMER INTEREST - Co reports increased interest in products for professional audio, industrial, automotive, and imaging markets

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the semiconductors peer group is "buy"

• Wall Street's median 12-month price target for Cirrus Logic Inc is $135.00, about 2.8% above its November 3 closing price of $131.24

• The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 14 three months ago

Press Release: ID:nBw8bfdxta

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)