The Q1 beat is positive, but the Q2 guidance midpoint implies a YoY decline, and the lowered PC outlook is a headwind. Monitor the Q2 earnings call for updates on PC supply constraints and the ramp of new products (camera controller, smart power IC, AFE). The stock may trade sideways until the PC narrative clarifies.
Price Chart
Executive Summary
Cirrus Logic reported record Q1 FY27 revenue of $459.7M (+13% YoY) and non-GAAP EPS of $1.84, a 1.4% beat vs. the $1.81 consensus. However, the company lowered its FY27 PC revenue expectations due to supply constraints and OEM delays, and guided Q2 revenue to a midpoint of $540M, which implies a 4% YoY decline. The strong smartphone-driven quarter is offset by a cautious near-term outlook for the PC growth catalyst, creating a mixed picture for the stock.
Key Financial Metrics
Key Facts
- Record Q1 FY27 revenue of $459.7M, up 13% YoY and 2% QoQ.
- Non-GAAP EPS of $1.84 beat consensus of $1.81 by 1.4%.
- Q2 FY27 revenue guidance of $510M-$570M implies ~4% YoY decline at the midpoint.
- Lowered FY27 PC revenue expectations due to constrained supply of a key industry platform, memory/component shortages, and OEM delays.
- One customer contributed ~90% of Q1 revenue.
- Repurchased $34.5M in shares during Q1; an additional $50.5M in buybacks executed post-quarter.
- Cash and investments totaled $1.2B; operating cash flow was $64.1M.
Financial Impact
Record revenue and EPS beat offset by a cautious Q2 guidance implying a YoQ revenue decline and lowered PC expectations.
Risk Factors
- Q2 revenue guidance midpoint implies ~4% YoY decline.
- Lowered FY27 PC revenue expectations due to supply chain and OEM delays.
- Extreme customer concentration (~90% from one customer) remains a key risk.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000772406-26-000036 |
| Document: pressrelease.htm | 0000772406-26-000036 |
| Document: crus-20260805.htm | 0000772406-26-000036 |
| Document: 0000772406-26-000036-index-headers.html | 0000772406-26-000036 |
| Document: 0000772406-26-000036-index.html | 0000772406-26-000036 |
| Document: 0000772406-26-000036.txt | 0000772406-26-000036 |
| 8-K Data (Synthetic) | 0000772406-26-000036 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 14, 2026 6w ago | Institutional Cluster | $119.87 $116.34 | ▼ −2.94% | ▼ −1.42% | $121.17 (+1.08%) |
Aug 5, 2026 8w ago | 8-K | $123.51 $113.13 | ▼ −8.40% | ▼ −9.00% | $121.17 (−1.89%) |
Jul 2, 2026 13w ago | Insider Cluster | $146.24 $131.86 | ▼ −9.83% | ▼ −9.42% | $121.17 (−17.14%) |
Jun 30, 2026 13w ago | Insider Cluster | $146.42 $134.07 | ▼ −8.43% | ▼ −6.25% | $121.17 (−17.24%) |
Jun 2, 2026 17w ago | Insider Cluster | $178.90 $146.24 | ▼ −18.26% | ▼ −17.26% | $121.17 (−32.27%) |
May 26, 2026 18w ago | Insider Cluster | $173.59 $153.98 | ▼ −11.30% | ▼ −9.40% | $121.17 (−30.20%) |
May 21, 2026 19w ago | 144 | $171.17 $160.00 | ▼ −6.53% | ▼ −5.11% | $121.17 (−29.21%) |
May 6, 2026 21w ago | 8-K | $171.68 $178.90 | ▲ +4.21% | ▲ +1.07% | $121.17 (−29.42%) |
US Market Status
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