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Cirrus Logic Inc.
Traded as NASDAQ: CRUS
S&P 400 Component
Industry Semiconductor industry
Founded 1981
Founder Dr. Suhas Patil
Headquarters Austin, Texas, United States
Key people
Jason Rhode, Michael L. Hackworth
Revenue $714m (2014)
Operating income
$155m (2014)
Net income
$108m (2014)
Number of employees
1104
Website www.cirrus.com

Cirrus Logic Inc. is a fabless semiconductor supplier that specializes in analog, mixed-signal, and audio DSP integrated circuits (ICs). As of 2015 Cirrus Logic has its headquarters in Austin, Texas. The company's audio processors and audio converters feature in many professional audio and consumer entertainment products, including smartphones, tablets, portable media players, automotive entertainment systems, home-theater receivers, televisions and docking stations. Cirrus Logic's analog mixed-signal converter chips are also used in a wide variety of energy-related applications, including its new line of LED controllers for the incandescent light-bulb replacement market, as well as energy-measurement chips for applications such as digital utility meters.

Dr. Suhas Patil founded the company as "Patil Systems, Inc." in Salt Lake City in 1981; it adopted the name "Cirrus Logic" when it moved to Silicon Valley in 1984.

Cirrus Logic has more than 1,000 patents and more than 600 products serving more than 2,500 end-customers globally.

Patil Systems, Inc., was founded in Salt Lake City in 1981 by Dr. Suhas Patil, in 1983 the company was reorganized by Dr. Patil, Kamran Elahian, and venture capitalist Fred Nazem, whose firm, Nazem and Company provided the company's first/start-up round of financing. Later the company was renamed as Cirrus Logic when it moved to Silicon Valley in 1984 to focus on solutions for the growing PC components market. Michael Hackworth was named president and chief executive officer in January 1985, and served as CEO until February 1999. It joined the Nasdaq market listing in 1989 (symbol: CRUS). Cirrus Logic acquired Crystal Semiconductor, a supplier of analog and mixed-signal converter ICs, in 1991. In the early 1990s, Cirrus Logic became a supplier of PC graphics chips, audio converters and chips for magnetic storage products. David D. French joined Cirrus Logic, Inc., as president and chief operating officer in June 1998 and was named chief executive officer in February 1999. Soon after joining the company, through an acquisition strategy Mr. French repositioned the company into a premier supplier of high-performance analog and digital processing chip solutions for consumer entertainment electronics and soon afterwards, Mr. M. Yousuf Palla joined as Vice President of Operations and Manufacturing, contributing further to its success. The company announced in April 2000 that it had completed moving its headquarters to Austin, Texas. In June 2005, Cirrus Logic sold its video products operation to an investment firm, creating privately owned Magnum Semiconductor. After French resigned in March 2007, Jason Rhode, formerly the vice president and general manager of Cirrus Logic's Mixed Signal Audio Division, was named president and CEO in May 2007. Today, Cirrus Logic is focused on its high-precision technologies for digital signal processing components for audio and energy markets. In 2014 Cirrus Logic bought Wolfson Microelectronics for £291 million.

In the early 1990s, Cirrus Logic was a supplier of low-cost PC graphics chips. Cirrus' Microsoft Windows 2D GUI accelerators (GDI) were among the fastest in the low-end market-segment, outperforming competing VGA-chips from Oak Technologies, Trident Microsystems, and Paradise (Western Digital). For example, the Cirrus GD5422 (1992) supported hardware acceleration for both 8-bit color and 16-bit color. It was one of the lowest-priced SVGA controllers to support both.

By the mid-1990s, when PC's had migrated to the PCI bus, Cirrus had fallen behind S3 and Trident Microsystems. When the announced release date of the GD5470 "Mondello" came and went, Cirrus's reputation in desktop PC-graphics suffered. Mondello development took a back seat to the GD5464 which was near completion and proved to be a much faster design with the use of Rambus. (Because of this Mondello never got off the ground)

The company's final graphics chips, the GD546x "Laguna" series of PCI/AGP 3D-accelerators, were novel in that they were one of the few video cards to use Rambus RDRAM. The patented use of tiled memory used by the GD546x chips is still used by nearly all graphics processors today. However, like many other 2D/3D chips at the time were gate limited by the process technology available at the time, the feature set of perspective-correct texture mapping, bilinear filtering, single-pass lighting, gouraud shading, and alpha blending, was incomplete compared to the next generation of 3D chips. The GD546x family was limited by CPU processing at the time, CPU's could not feed it enough triangles which was the real performance block. The raw processing power of the GD546x was nearly 2.5 million 25 pixel triangles per second, much faster than competitors.

When Intel announced they were entering the 3D market with the i740 Cirrus Logic exited the market, which at the time for Cirrus Logic was worth 500 million dollars annually. (Intel didn't catch up in performance for many years, the i740 was not widely accepted and did not win any major designs).

Emulated Cirrus Logic graphic cards are used in emulators. QEMU emulate the Cirrus CLGD 5446 PCI VGA-card, which is also emulated by Bochs (which in addition also emulates the CL-GD5430 ISA card).

News

Cirrus Logic, Inc. 2.13% (technology)

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q2 2020 2020-10-28 Future report Set alerts
Q1 2020 2020-08-03 0.53 0.30
Q4 2019 2020-05-04 0.68 0.17
Q3 2019 2020-01-29 1.41 1.13
Q2 2019 2019-10-30 1.55 1.27
Q1 2019 2019-07-31 0.35 0.08
Q4 2018 2019-05-01 0.37 0.10
Q3 2018 2019-01-30 0.91 0.49
Q2 2018 2018-11-01 1.08 0.93
Q1 2018 2018-08-01 0.28 -0.07

Ratings

2016-06-21 Initiated Coverage Canaccord Genuity Buy $52.00
2016-06-07 Reiterated Rating Pacific Crest Overweight $40.00
2016-06-01 Reiterated Rating Stifel Nicolaus Buy $44.00 to $46.00
2016-05-16 Reiterated Rating Pacific Crest Overweight
2016-05-05 Downgrade Barclays Overweight to Equal Weight $37.00 to $35.00
2016-05-05 Downgrade Barclays PLC Overweight to Equal Weight $37.00 to $35.00
2016-04-27 Reiterated Rating Oppenheimer Outperform
2016-04-27 Reiterated Rating Needham & Company LLC Buy
2016-04-27 Reiterated Rating Oppenheimer Holdings Inc. Outperform
2016-04-14 Reiterated Rating Pacific Crest Buy $40.00
2016-03-15 Reiterated Rating Pacific Crest Overweight
2016-03-14 Initiated Coverage Needham & Company LLC Buy $50.00
2016-02-26 Initiated Coverage Topeka Capital Markets Buy $42.00
2016-02-24 Reiterated Rating Oppenheimer Buy
2016-02-23 Reiterated Rating Stifel Nicolaus Buy $42.00
2016-02-08 Reiterated Rating KeyBanc Overweight $40.00
2016-02-08 Reiterated Rating KeyCorp Overweight $40.00
2016-01-28 Lower Price Target Barclays Overweight $39.00 to $37.00
2016-01-28 Upgrade Oppenheimer Market Perform to Outperform $40.00
2016-01-15 Reiterated Rating Barclays Overweight $39.00
2016-01-09 Reiterated Rating Northland Securities Buy
2016-01-08 Lower Price Target Stifel Nicolaus Buy $45.00 to $38.00
2016-01-08 Upgrade Pacific Crest Sector Weight to Overweight $40.00
2015-11-30 Initiated Coverage Dougherty & Co Buy $52.00 to $52.00
2015-09-28 Reiterated Rating Piper Jaffray Buy $44.00
2015-09-28 Reiterated Rating Piper Jaffray Cos. Buy $44.00
2015-09-25 Reiterated Rating Barclays Buy
2015-09-25 Reiterated Rating Oppenheimer Market Perform
2015-08-21 Reiterated Rating Piper Jaffray Overweight $44.00
2015-07-23 Boost Price Target Rosenblatt Securities Buy $30.00 to $38.00
2015-07-23 Upgrade Stifel Nicolaus Hold to Buy $45.00
2015-07-10 Reiterated Rating Piper Jaffray Buy $44.00
2015-05-26 Boost Price Target Barclays Overweight $37.00 to $39.00
2015-05-15 Set Price Target Piper Jaffray Buy $44.00
2015-05-13 Set Price Target Northland Securities Buy $44.00
2015-04-29 Boost Price Target Northland Capital Partners Outperform $37.50 to $44.00
2015-04-29 Boost Price Target Northland Securities Outperform $37.50 to $44.00
2015-04-14 Boost Price Target Barclays Overweight $35.00 to $37.00
2015-04-09 Initiated Coverage Piper Jaffray Overweight
2015-03-06 Boost Price Target Northland Capital Partners Outperform $35.00 to $37.50
2015-03-06 Boost Price Target Northland Securities Outperform $35.00 to $37.50
2015-03-02 Boost Price Target Barclays Overweight $32.00 to $35.00
2015-02-11 Upgrade Barclays Buy $28.00
2015-01-29 Boost Price Target Barclays Overweight $28.00 to $32.00
2015-01-29 Upgrade Sidoti Neutral to Buy
2015-01-29 Boost Price Target Northland Securities Outperform $30.00 to $35.00
2015-01-23 Initiated Coverage Rosenblatt Securities Buy $30.00
2014-12-30 Upgrade Barclays Underweight to Overweight
2014-12-16 Upgrade Oppenheimer Underperform to Market Perform
2014-12-15 Upgrade Barclays Underweight to Overweight $18.00 to $28.00
2014-07-15 Boost Price Target Barclays Underweight $16.00 to $18.00
2014-04-25 Upgrade Northland Capital Market Perform to Outperform $22 to $27
2014-04-25 Upgrade Northland Securities Market Perform to Outperform $22.00 to $27.00
2014-04-14 Downgrade Feltl & Co. Buy to Hold
2014-01-29 Reiterated Needham Buy $25 to $21
2014-01-29 Lower Price Target Canaccord Genuity Hold $24.00 to $18.00
2014-01-29 Lower Price Target Needham & Company LLC Buy $25.00 to $21.00
2014-01-15 Downgrade Pacific Crest Sector Perform to Underperform
2013-12-16 Downgrade Oppenheimer Market Perform to Underperform
2013-11-12 Lower Price Target Sterne Agee CRT Buy $28.00 to $24.00
2013-11-11 Reiterated Rating Barclays Underweight $16.00
2013-10-30 Reiterated Northland Capital Outperform $26 to $27
2013-10-30 Downgrade Barclays Equal Weight to Underweight $21.06 to $16.00
2013-10-30 Boost Price Target Sterne Agee CRT Buy $25.00 to $28.00
2013-10-30 Boost Price Target Needham & Company LLC Buy $22.00 to $28.00
2013-10-30 Boost Price Target Canaccord Genuity Hold $18.00 to $24.00
2013-10-30 Downgrade Sidoti Buy to Neutral
2013-10-30 Boost Price Target Northland Securities Outperform $26.00 to $27.00
2013-09-25 Initiated Northland Capital Market Perform $26
2013-09-25 Initiated Coverage Northland Securities Market Perform $26.00
2013-08-28 Upgrade Feltl & Co. Hold to Buy $20 to $26
2013-07-26 Reiterated Feltl & Co. Hold $18 to $20
2013-05-28 Reiterated Feltl & Co. Hold $19 to $17
2013-05-24 Downgrade Canaccord Genuity Buy to Hold $25 to $18
2013-04-26 Reiterated Stifel Buy $34 to $32
2013-04-17 Reiterated Stifel Buy $42 to $34
2013-04-17 Reiterated Barclays Overweight $36 to $28
2013-04-17 Downgrade Needham Strong Buy to Buy $45 to $30
2013-01-25 Reiterated Needham Strong Buy $57 to $45
2013-01-25 Reiterated Feltl & Co. Hold $34 to $31
2013-01-03 Reiterated Barclays Overweight $47 to $36
2012-11-26 Reiterated Feltl & Co. Hold $44 to $34
2012-11-06 Initiated Capstone Investments Buy
2012-11-01 Upgrade Needham Buy to Strong Buy $53 to $57
2016-06-21 Initiated Coverage Canaccord Genuity Buy $52.00
2016-06-07 Reiterated Rating Pacific Crest Overweight $40.00
2016-06-01 Reiterated Rating Stifel Nicolaus Buy $44.00 to $46.00
2016-05-16 Reiterated Rating Pacific Crest Overweight
2016-05-05 Downgrade Barclays Overweight to Equal Weight $37.00 to $35.00

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
Rhode Jason P President & CEO 0.23%  (141776) CRUS /
CARTER JOHN C 0.04%  (26100) CRUS /
Benson JoDee VP Chief Culture Officer 0.03%  (17697) CRUS /
DEHNE TIMOTHY R 0.03%  (15968) CRUS / LMNX /
SCHUELE ALAN R 0.02%  (12165) CRUS /
KING CHRISTINE 0.02%  (9631) CRUS / IDA / QLGC / SWKS /
Tupman David J. 0.01%  (8703) CRUS / PXLW /
DAVERN ALEXANDER M 0.01%  (8664) CRUS / NATI /
Stein Thomas VP & GM Energy Exploratio 0.01%  (8247) CRUS /
THOMAS SCOTT VP General Counsel 0.01%  (7519) CRUS /
Brennan Gregory L VP APP 0.01%  (6881) CRUS /
Carlson Randolph K VP Supply Chain 0.01%  (5805) CRUS /
SHERMAN WILLIAM D 0.01%  (3911) CRUS /

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