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Cirrus Logic (CRUS) Gains But Lags Market: What You Should Know
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Cirrus Logic (CRUS - Free Report) closed the most recent trading day at $84.23, moving +0.31% from the previous trading session. This move lagged the S&P 500's daily gain of 0.81%. Meanwhile, the Dow gained 0.3%, and the Nasdaq, a tech-heavy index, added 0.61%.
Heading into today, shares of the chipmaker had lost 1.18% over the past month, lagging the Computer and Technology sector's gain of 4.13% and the S&P 500's gain of 5.64% in that time.
Investors will be hoping for strength from Cirrus Logic as it approaches its next earnings release. On that day, Cirrus Logic is projected to report earnings of $1.41 per share, which would represent year-over-year growth of 113.64%. Meanwhile, our latest consensus estimate is calling for revenue of $420.4 million, up 43.22% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for Cirrus Logic. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Cirrus Logic currently has a Zacks Rank of #2 (Buy).
Digging into valuation, Cirrus Logic currently has a Forward P/E ratio of 14.02. For comparison, its industry has an average Forward P/E of 21.09, which means Cirrus Logic is trading at a discount to the group.
Also, we should mention that CRUS has a PEG ratio of 1.4. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Electronics - Semiconductors industry currently 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 industry currently has a Zacks Industry Rank of 87, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Cirrus Logic (CRUS) Gains But Lags Market: What You Should Know
Cirrus Logic (CRUS - Free Report) closed the most recent trading day at $84.23, moving +0.31% from the previous trading session. This move lagged the S&P 500's daily gain of 0.81%. Meanwhile, the Dow gained 0.3%, and the Nasdaq, a tech-heavy index, added 0.61%.
Heading into today, shares of the chipmaker had lost 1.18% over the past month, lagging the Computer and Technology sector's gain of 4.13% and the S&P 500's gain of 5.64% in that time.
Investors will be hoping for strength from Cirrus Logic as it approaches its next earnings release. On that day, Cirrus Logic is projected to report earnings of $1.41 per share, which would represent year-over-year growth of 113.64%. Meanwhile, our latest consensus estimate is calling for revenue of $420.4 million, up 43.22% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for Cirrus Logic. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Cirrus Logic currently has a Zacks Rank of #2 (Buy).
Digging into valuation, Cirrus Logic currently has a Forward P/E ratio of 14.02. For comparison, its industry has an average Forward P/E of 21.09, which means Cirrus Logic is trading at a discount to the group.
Also, we should mention that CRUS has a PEG ratio of 1.4. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Electronics - Semiconductors industry currently 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 industry currently has a Zacks Industry Rank of 87, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.