AUSTIN, Texas - Cirrus Logic (NASDAQ:CRUS) has announced the launch of its new series of digital-to-analog converters (DACs) and an audio CODEC, targeting the prosumer and professional audio markets. The unveiling took place today, with the company introducing devices designed for high-fidelity audio experiences for musicians, live entertainers, and recording engineers.
The latest offerings expand upon the previous year's launch of analog-to-digital converters (ADCs), focusing on superior analog functionality and digital integration. These new products are said to provide exceptional performance, minimal power requirements, and feature hybrid gain control to address audio challenges in the industry.
Eddie Sinnott, Director of Product Marketing at Cirrus Logic, emphasized the company's dedication to "true transparency in audio," aiming to deliver sound that is authentic from creation to consumption. According to Sinnott, the new flagship products set a "gold standard" for the audio community.
The new devices include the 8-channel DAC CS4308P, 4-channel CS4304P, 2-channel CS4302P, and CODEC CS4282P. They are designed for easy integration into a variety of audio equipment and allow users to configure advanced digital filters to craft their desired sound signature.
Simon Jones, CTO of Focusrite (LON:TUNE) Group, a long-time user of Cirrus Logic products, praised the new additions for their ability to integrate seamlessly with a broad spectrum of audio equipment. Jones highlighted the integration of a hybrid gain control system in the CODEC and DACs as a significant innovation for system integration.
In terms of efficiency, the new Pro Audio family boasts industry-leading power efficiency at 10 mW/ch for the 8/4-channel DACs. The devices support 32-bit resolution with sample rates up to 768 kHz, offering 129 dB of dynamic range for the CS4302P/CS4282P and 123 dB for the CS4304/8P, with THD+N at -114 dB or lower.
Samples of the CS4304/8P DACs and the CS4282P are available for order now, with the CS4302P DAC to follow later in the year. These products can be controlled and configured using Cirrus Logic's SoundClear® Studio software.
In other recent news, Cirrus Logic has seen significant changes and developments. The company announced the nomination of William D. Mosley for election to its board of directors, a move that is expected to bring extensive executive experience to the team. Alongside this, Cirrus Logic also revealed the impending retirement of board member Tim Dehne.
In terms of financial leadership, Cirrus Logic is undergoing a transition with the departure of CFO Venk Nathamuni and the appointment of Ulf Habermann as interim CFO. Stifel maintained its Buy rating on Cirrus Logic shares, expressing confidence in the financial strategy under the new CFO. However, Benchmark downgraded Cirrus Logic's stock from Buy to Hold, citing the current stock price as fair value.
TD Cowen, on the other hand, raised Cirrus Logic's stock price target to $115, maintaining a Buy rating. This follows the company's performance exceeding typical seasonal results for the March quarter, driven by robust mobile shipments to Apple (NASDAQ:AAPL). These are all recent developments in the company's journey.
InvestingPro Insights
Cirrus Logic (NASDAQ:CRUS) has recently introduced its latest line of audio products, reinforcing its position in the high-fidelity audio market. As the company continues to innovate, there are several financial metrics and strategic maneuvers that investors and enthusiasts may find of interest.
The company's dedication to returning value to shareholders is evident in its aggressive share buyback program, as highlighted by an InvestingPro Tip. This move often indicates management's confidence in the company's future performance and is seen as a positive sign by investors.
Another InvestingPro Tip points to a healthy balance sheet, with Cirrus Logic holding more cash than debt. This financial stability may provide the company with the flexibility to invest in further product development and innovation, like the recently launched audio devices.
From the real-time data provided by InvestingPro, Cirrus Logic boasts a market capitalization of $6.58 billion USD. Additionally, the company's Price to Earnings (P/E) Ratio stands at 24.65, with an adjusted P/E ratio for the last twelve months as of Q4 2024 at 23.82. These figures suggest a valuation that is potentially attractive relative to near-term earnings growth.
In terms of performance, Cirrus Logic's products have driven strong returns, with a 36.35% price total return over the last three months and an even more impressive 66.78% return over the last year. This performance is reflective of the company's robust market position and its successful product offerings.
Investors interested in further insights can find additional InvestingPro Tips for Cirrus Logic at https://www.investing.com/pro/CRUS, with a total of 15 listed tips providing a comprehensive look at the company's financial health and market performance. Remember, you can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking even more valuable investment data and analysis.
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