secwatch.observer — SEC 8-K summary
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Issuer:     CIRRUS LOGIC, INC. (CRUS)
CIK:        0000772406
Form:       8-K
Filed at:   2023-02-02T23:59:59+00:00
Accession:  0000772406-23-000005
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cirrus Logic Q3 FY23 record revenue $590.6M, above guidance; Q4 guidance $340-400M
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- Record revenue $590.6M (+8% YoY, +9% QoQ), above high end of guidance; driven by smartphone demand.
- GAAP EPS $1.83, non-GAAP EPS $2.40; GAAP gross margin 50.2%, non-GAAP 50.3%.
- One customer contributed 88% of revenue; HPMS revenue 41% of total.
- Q4 FY23 guidance: revenue $340-400M (down ~37% seq); gross margin 49-51%.
- Repurchased $50M of stock (712,883 shares at avg $70.14); cash $507.7M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/772406/000077240623000005/0000772406-23-000005-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/772406/000077240623000005/crus-20230202.htm
  HTML page:      https://secwatch.observer/filing/0000772406-23-000005

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer