Welcome to our dedicated page for Cirrus Logic news (Ticker: CRUS), a resource for investors and traders seeking the latest updates and insights on Cirrus Logic stock.
Cirrus Logic Inc. develops low-power, high-precision mixed-signal processing and integrated circuit products for mobile, consumer, PC, automotive, industrial, imaging, and professional audio applications. Company news commonly covers quarterly shareholder letters, revenue drivers tied to smartphone components and PC design activity, and efforts to diversify beyond portable audio into broader general-market products.
Updates also include launches of industrial imaging analog front-end ICs for scanners and machine-vision scanning platforms, automotive-qualified closed-loop haptic drivers, and components used for audio, voice capture, camera control, sensing, battery, and power functions.
Cirrus Logic, Inc. (Nasdaq: CRUS) announced that Jason Rhode will step down as CEO and director on January 1, 2021. John Forsyth, the current president, will succeed him as CEO. Rhode will transition to an executive fellow role, focusing on customer relations and talent development. Additionally, David Tupman will take over as Chair of the Board. Rhode praised Forsyth's leadership skills and expressed confidence in the company's strategic direction. This leadership transition will be further discussed during the Q2 FY21 earnings call.
Cirrus Logic (Nasdaq: CRUS) reported Q2 FY21 revenue of $347.3 million, exceeding guidance, primarily driven by strong smartphone component sales. The company achieved a GAAP gross margin of 51.9% and earnings per share of $0.99. Looking ahead, Q3 FY21 revenue is projected between $440 million and $480 million. Notably, John Forsyth will succeed Jason Rhode as CEO effective January 1, 2021. The company also appointed David Tupman as chair of the Board, indicating a strategic leadership transition.
Cirrus Logic, Inc. (Nasdaq: CRUS) will release its second quarter fiscal year 2021 financial results and business outlook on Nov. 2 at 4 p.m. EST. A Q&A webcast will follow at 5 p.m. EST to discuss these results. Shareholders can submit questions via email. A replay of the session will be available two hours after the call ends. Cirrus Logic specializes in low-power, high-precision mixed-signal processing solutions for mobile and consumer applications, and is based in Austin, Texas.