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CRUS Cirrus Logic

Cirrus Logic is a leader in low-power, high-precision mixed-signal processing solutions that create innovative user experiences for the world's top mobile and consumer applications. With headquarters in Austin, Texas, Cirrus Logic is recognized globally for its award-winning corporate culture.

Company profile

Ticker
CRUS
Exchange
Website
CEO
Jason Rhode
Employees
Incorporated
Location
Fiscal year end
Former names
CIRRUS LOGIC INC
SEC CIK
IRS number
770024818

CRUS stock data

(
)

Calendar

28 Jul 21
4 Aug 21
26 Mar 22
Quarter (USD)
Jun 21 Mar 21 Dec 20 Sep 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Mar 21 Mar 20 Mar 19 Mar 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 385.13M 385.13M 385.13M 385.13M 385.13M 385.13M
Cash burn (monthly) 19.01M (positive/no burn) (positive/no burn) (positive/no burn) 8.93M (positive/no burn)
Cash used (since last report) 24.7M n/a n/a n/a 11.61M n/a
Cash remaining 360.42M n/a n/a n/a 373.52M n/a
Runway (months of cash) 19.0 n/a n/a n/a 41.8 n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
30 Jul 21 Carter John C RSU Common Stock Grant Aquire A No No 0 2,300 0 2,300
30 Jul 21 Davern Alexander M RSU Common Stock Grant Aquire A No No 0 2,300 0 2,300
30 Jul 21 Tupman David J. RSU Common Stock Grant Aquire A No No 0 2,300 0 2,300
30 Jul 21 Deirdre Hanford RSU Common Stock Grant Aquire A No No 0 2,300 0 2,300
30 Jul 21 Lego Catherine P RSU Common Stock Grant Aquire A No No 0 2,300 0 2,300

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

85.1% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 309 305 +1.3%
Opened positions 45 54 -16.7%
Closed positions 41 32 +28.1%
Increased positions 103 77 +33.8%
Reduced positions 107 129 -17.1%
13F shares
Current Prev Q Change
Total value 4.16B 4.25B -2.2%
Total shares 49.03M 51.74M -5.2%
Total puts 335.1K 432.3K -22.5%
Total calls 330.8K 620.9K -46.7%
Total put/call ratio 1.0 0.7 +45.5%
Largest owners
Shares Value Change
FMR 8.71M $738.24M +0.1%
BLK Blackrock 6.63M $561.87M +4.0%
Vanguard 5.9M $500.16M +1.9%
STT State Street 1.66M $140.81M +1.4%
Dimensional Fund Advisors 1.52M $128.79M -2.1%
Contour Asset Management 1.04M $88M +64.6%
MCQEF Macquarie 1.01M $85.32M +5.8%
Geode Capital Management 981.82K $83.25M +6.2%
BAC Bank Of America 952.94K $80.8M +16.2%
Royce & Associates 798.79K $67.73M -1.1%
Largest transactions
Shares Bought/sold Change
Whale Rock Capital Management 0 -3.01M EXIT
Norges Bank 0 -795.78K EXIT
LSV Asset Management 519.42K -660.62K -56.0%
Contour Asset Management 1.04M +407.24K +64.6%
Millennium Management 707.27K +379.23K +115.6%
Point72 Asset Management 0 -347.29K EXIT
DB Deutsche Bank AG - Registered Shares 444.66K +333.29K +299.3%
Renaissance Technologies 311.82K +311.82K NEW
AO Asset Management 270.3K +270.3K NEW
BLK Blackrock 6.63M +257.71K +4.0%

Financial report summary

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Risks
  • We are dependent on third-party manufacturing and supply chain relationships for all of our products. Our reliance on third-party foundries and suppliers involves certain risks that may result in increased costs, delays in meeting our customers’ demand, and loss of revenue.
  • We depend on a limited number of customers and distributors for a substantial portion of our sales, and the loss of, or a significant reduction in orders from, or pricing on products sold to, any key customer or distributor could significantly reduce our sales and our profitability.
  • Our lack of diversification in our revenue and customer base increases the risk of an investment in our company, and our consolidated financial condition, results of operations, and stock price may deteriorate if we fail to diversify.
  • Our results may be affected by fluctuation in sales in the consumer electronics and smartphone markets.
  • We may be adversely impacted by global economic conditions. As a result, our financial results and the market price of our common shares may decline.
  • Changes in government trade policies, including the imposition of tariffs and export restrictions, could have an adverse impact on our business operations and sales.
  • System security risks, data protection breaches, cyber-attacks and other related cyber security issues could disrupt our internal operations and/or supply chain, and any such disruption could increase our expenses, damage our reputation and adversely affect our stock price.
  • Our sales could be materially impacted by the failure of other component suppliers to deliver required parts needed in the final assembly of our customers’ end products.
  • We face risks related to global health epidemics that could impact our sales, supply chain and operations, resulting in significantly reduced revenue and operating results.
  • We are subject to risks relating to product concentration.
  • In general, our customers may cancel or reschedule orders on short notice without incurring significant penalties; therefore, our sales and operating results in any quarter are difficult to forecast.
  • Strong competition in the semiconductor market may harm our business.
  • We have significant international sales, and risks associated with these sales could harm our operating results.
  • Because we depend on subcontractors internationally to perform key manufacturing functions for us, we are subject to political, economic, climate and natural disaster risks that could disrupt the fabrication, assembly, packaging, or testing of our products.
  • Our international operations subject our business to additional political and economic risks that could have an adverse impact on our business.
  • Our products may be subject to average selling prices that decline over time. If we are unable to maintain average selling prices for existing products, increase our volumes, introduce new or enhanced products with higher selling prices, or reduce our costs, our business and operating results could be harmed.
  • If we fail to attract, hire and retain qualified personnel, we may not be able to develop, market, or sell our products or successfully manage our business.
  • We may acquire other companies or technologies, which may create additional risks associated with our ability to successfully integrate them into our business.
  • We have entered into joint development agreements, custom product arrangements, and strategic relationships with some of our largest customers. These arrangements subject us to a number of risks, and any failure to execute on any of these arrangements could have a material adverse effect on our business, results of operations, and financial condition.
  • Our failure to develop and ramp new products into production in a timely manner could harm our operating results.
  • We continue to invest in research and development efforts for several new markets. If we are unable to commercialize these technologies, our future results and profits could be negatively affected.
  • Our products are increasingly complex and could contain defects, which could result in material costs to us.
  • Security vulnerabilities may exist in our products, which could expose us to significant costs and damage our business.
  • We frequently develop our products for the specific system architecture of our customers’ end products. If our customers were to change system architectures, develop competing technologies and integrated circuits, or incorporate some of the functionality of our products into other parts of the system, we risk the potential loss of revenue and reduced average selling prices.
  • We may experience difficulties developing and transitioning to advanced manufacturing process technologies, which could materially adversely affect our results.
  • We may be unable to protect our intellectual property rights.
  • Shifts in industry-wide capacity and our practice of ordering and purchasing our products based on sales forecasts may result in significant fluctuations in inventory and our quarterly and annual operating results.
  • We have historically experienced fluctuations in our operating results and expect these fluctuations to continue in future periods.
  • Our stock price has been and is likely to continue to be volatile.
  • We could be subject to changes in tax laws, the adoption of new U.S. or international tax legislation or exposure to additional tax liabilities.
  • Our foreign currency exposures may change over time as the level of activity in foreign markets grows and could have an adverse impact upon financial results.
  • Our debt obligations may be a burden on our future cash flows and cash resources.
  • Our Credit Agreement contains restrictions that could limit our flexibility in operating our business.
  • We are subject to the export control regulations of the U.S. Department of State and the Department of Commerce. A violation of these export control regulations could have a material adverse effect on our business or our results of operations, cash flows, or financial position.
  • Potential intellectual property claims and litigation could subject us to significant liability for damages and could invalidate our proprietary rights.
  • We have provisions in our Certificate of Incorporation and Bylaws, and are subject to certain provisions of Delaware law, which could prevent, delay or impede a change of control of our company. These provisions could affect the market price of our stock.
  • Our Bylaws provide, to the fullest extent permitted by applicable law, that the Court of Chancery of the State of Delaware or, if the Court of Chancery does not have jurisdiction, a state court located within the State of Delaware or, if no state court located within the State of Delaware has jurisdiction, the federal district court for the District of Delaware, will be the exclusive forum for certain legal actions between the Company and its stockholders, which could increase costs to bring a claim, discourage claims, or limit the ability of the Company’s stockholders to bring a claim in a judicial forum viewed by the stockholders as more favorable for disputes with the Company or the Company’s directors, officers, or other employees.
  • Corporate social responsibility initiatives, specifically related to environmental, social and governance ("ESG") matters, may impose additional costs and expose us to emerging areas of risk.
  • As we carry only limited insurance coverage, uninsured or under-insured losses could adversely affect our financial condition and results of operations.
  • We are subject to the risks of owning real property.
Management Discussion
  • ITEM 7.  Management’s Discussion and Analysis of Financial Condition and Results of Operations
  • Please read the following discussion in conjunction with our audited historical consolidated financial statements and notes thereto, which are included elsewhere in this Form 10-K. Management’s Discussion and Analysis of Financial Condition and Results of Operations contains statements that are forward-looking. These statements are based on current expectations and assumptions that are subject to risk, uncertainties and other factors. Actual results could differ materially because of the factors discussed in Part I, Item 1A. “Risk Factors” of this Form 10-K and elsewhere in this report, as well as in the documents filed by us with the SEC, specifically the most recent reports on Forms 10-Q and 8-K, each as it may be amended from time to time.
  • Our discussion and analysis of the Company’s financial condition and results of operations are based upon the consolidated financial statements included in this report, which have been prepared in accordance with U.S. generally accepted accounting principles. The preparation of these financial statements requires us to make estimates and judgments that affect the reported amounts. We evaluate the estimates on an on-going basis. We base these estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions and conditions.
Content analysis
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H.S. junior Avg
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Patents

GRANT
Utility
Virtual button characterization engine
3 Aug 21
A method may include receiving an input signal from a force sensor configured to sense a force associated with a human interaction with a virtual button, comparing the input signal to at least one behavioral model, the at least one behavioral model comprising one or more parameters associated with a valid human interaction with the virtual button, and determining whether a valid human interaction with the virtual button occurred based on the comparing.
GRANT
Utility
Speaker recognition
3 Aug 21
A biometric is formed for at least one enrolled speaker by: obtaining a sample of speech of the enrolled speaker; obtaining a measure of a fundamental frequency of the speech of the enrolled speaker in each of a plurality of speech frames; and forming a first distribution function of the fundamental frequency of the speech of the enrolled speaker.
GRANT
Utility
Highly linear input and output rail-to-rail amplifier
3 Aug 21
An amplifier includes input transconductors that receive an input signal, the input signal having a voltage swing.
APP
Utility
Biasing Circuitry
29 Jul 21
The present disclosure relates to circuitry for selecting a bias voltage to output at a bias voltage output node of the circuitry.
APP
Utility
Pole-zero Blocking Matrix for Low-delay Far-field Beamforming
29 Jul 21
A system performs pole-zero or IIR modeling and estimation of an inter-microphone transfer function between first and second microphones that output respective first and second microphone signals.