secwatch.observer — SEC 8-K summary
======================================

Issuer:     CIRRUS LOGIC, INC. (CRUS)
CIK:        0000772406
Form:       8-K
Filed at:   2023-11-02T23:59:59+00:00
Accession:  0000772406-23-000054
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cirrus Logic Q2 FY24 revenue $481.1M, GAAP EPS $1.34, non-GAAP $1.80
--------------------------------------------------------------------

- Revenue $481.1M, up 52% QoQ, down 11% YoY; one customer accounted for 88% of revenue.
- GAAP gross margin 51.3%; Q3 FY24 revenue guidance $510M-$570M, gross margin 49%-51%.
- GAAP EPS $1.34, non-GAAP EPS $1.80; repurchased 510,720 shares for $40.6M at avg $79.45.
- Ramped shipments of next-gen camera controller; next-gen boosted amplifier and smart codec on track for 2024.
- Inventory $328.9M, 128 days; expects Q2 to be peak inventory for fiscal year.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/772406/000077240623000054/0000772406-23-000054-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/772406/000077240623000054/crus-20231102.htm
  HTML page:      https://secwatch.observer/filing/0000772406-23-000054

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