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Cirrus Logic (CRUS) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Cirrus Logic (CRUS - Free Report) closed at $86.36, marking a -1.52% move from the previous day. This change lagged the S&P 500's 0.71% gain on the day. At the same time, the Dow added 0.27%, and the tech-heavy Nasdaq gained 0.15%.
Prior to today's trading, shares of the chipmaker had lost 0.02% over the past month. This has lagged the Computer and Technology sector's gain of 2.62% and the S&P 500's gain of 3.76% in that time.
Cirrus Logic will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.41, up 113.64% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $420.4 million, up 43.22% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.31 per share and revenue of $1.71 billion, which would represent changes of +37.77% and +25.01%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Cirrus Logic. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Cirrus Logic is holding a Zacks Rank of #2 (Buy) right now.
Valuation is also important, so investors should note that Cirrus Logic has a Forward P/E ratio of 13.9 right now. This valuation marks a discount compared to its industry's average Forward P/E of 21.24.
Investors should also note that CRUS has a PEG ratio of 1.39 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. CRUS's industry had an average PEG ratio of 1.31 as of yesterday's close.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 75, putting it in the top 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CRUS in the coming trading sessions, be sure to utilize Zacks.com.
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Cirrus Logic (CRUS) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Cirrus Logic (CRUS - Free Report) closed at $86.36, marking a -1.52% move from the previous day. This change lagged the S&P 500's 0.71% gain on the day. At the same time, the Dow added 0.27%, and the tech-heavy Nasdaq gained 0.15%.
Prior to today's trading, shares of the chipmaker had lost 0.02% over the past month. This has lagged the Computer and Technology sector's gain of 2.62% and the S&P 500's gain of 3.76% in that time.
Cirrus Logic will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.41, up 113.64% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $420.4 million, up 43.22% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.31 per share and revenue of $1.71 billion, which would represent changes of +37.77% and +25.01%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Cirrus Logic. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Cirrus Logic is holding a Zacks Rank of #2 (Buy) right now.
Valuation is also important, so investors should note that Cirrus Logic has a Forward P/E ratio of 13.9 right now. This valuation marks a discount compared to its industry's average Forward P/E of 21.24.
Investors should also note that CRUS has a PEG ratio of 1.39 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. CRUS's industry had an average PEG ratio of 1.31 as of yesterday's close.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 75, putting it in the top 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CRUS in the coming trading sessions, be sure to utilize Zacks.com.