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Cirrus Logic (CRUS) Gains As Market Dips: What You Should Know
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In the latest trading session, Cirrus Logic (CRUS - Free Report) closed at $75.82, marking a +0.26% move from the previous day. This move outpaced the S&P 500's daily loss of 0.34%.
Heading into today, shares of the chipmaker had lost 4.65% over the past month, lagging the Computer and Technology sector's gain of 2.77% and the S&P 500's gain of 5.03% in that time.
Investors will be hoping for strength from Cirrus Logic as it approaches its next earnings release, which is expected to be May 3, 2022. 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.
It is also important to note the recent changes to analyst estimates for Cirrus Logic. These revisions help to show the ever-changing nature of near-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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Cirrus Logic is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Cirrus Logic currently has a Forward P/E ratio of 12.62. This represents a discount compared to its industry's average Forward P/E of 16.95.
It is also worth noting that CRUS currently has a PEG ratio of 1.26. 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. The Electronics - Semiconductors was holding an average PEG ratio of 1.25 at yesterday's closing price.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 148, putting it in the bottom 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Cirrus Logic (CRUS) Gains As Market Dips: What You Should Know
In the latest trading session, Cirrus Logic (CRUS - Free Report) closed at $75.82, marking a +0.26% move from the previous day. This move outpaced the S&P 500's daily loss of 0.34%.
Heading into today, shares of the chipmaker had lost 4.65% over the past month, lagging the Computer and Technology sector's gain of 2.77% and the S&P 500's gain of 5.03% in that time.
Investors will be hoping for strength from Cirrus Logic as it approaches its next earnings release, which is expected to be May 3, 2022. 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.
It is also important to note the recent changes to analyst estimates for Cirrus Logic. These revisions help to show the ever-changing nature of near-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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Cirrus Logic is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Cirrus Logic currently has a Forward P/E ratio of 12.62. This represents a discount compared to its industry's average Forward P/E of 16.95.
It is also worth noting that CRUS currently has a PEG ratio of 1.26. 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. The Electronics - Semiconductors was holding an average PEG ratio of 1.25 at yesterday's closing price.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 148, putting it in the bottom 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.