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Cirrus Logic (CRUS) Dips More Than Broader Markets: What You Should Know
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Cirrus Logic (CRUS - Free Report) closed the most recent trading day at $88.17, moving -1.8% from the previous trading session. This change lagged the S&P 500's 0.41% loss on the day. At the same time, the Dow lost 0.01%, and the tech-heavy Nasdaq gained 0.13%.
Heading into today, shares of the chipmaker had gained 1.38% over the past month, outpacing the Computer and Technology sector's loss of 1.8% and lagging the S&P 500's gain of 2.36% in that time.
Wall Street will be looking for positivity from Cirrus Logic as it approaches its next earnings report date. This is expected to be January 31, 2022. In that report, analysts expect Cirrus Logic to post earnings of $2.15 per share. This would mark year-over-year growth of 0.94%. Our most recent consensus estimate is calling for quarterly revenue of $510.44 million, up 5.07% from the year-ago period.
CRUS's full-year Zacks Consensus Estimates are calling for earnings of $5.37 per share and revenue of $1.6 billion. These results would represent year-over-year changes of +17.25% and +16.76%, respectively.
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. 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.
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.
Investors should also note Cirrus Logic's current valuation metrics, including its Forward P/E ratio of 16.72. This valuation marks a discount compared to its industry's average Forward P/E of 23.06.
We can also see that CRUS currently has a PEG ratio of 1.79. 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 1.62 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 72, putting it in the top 29% 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) Dips More Than Broader Markets: What You Should Know
Cirrus Logic (CRUS - Free Report) closed the most recent trading day at $88.17, moving -1.8% from the previous trading session. This change lagged the S&P 500's 0.41% loss on the day. At the same time, the Dow lost 0.01%, and the tech-heavy Nasdaq gained 0.13%.
Heading into today, shares of the chipmaker had gained 1.38% over the past month, outpacing the Computer and Technology sector's loss of 1.8% and lagging the S&P 500's gain of 2.36% in that time.
Wall Street will be looking for positivity from Cirrus Logic as it approaches its next earnings report date. This is expected to be January 31, 2022. In that report, analysts expect Cirrus Logic to post earnings of $2.15 per share. This would mark year-over-year growth of 0.94%. Our most recent consensus estimate is calling for quarterly revenue of $510.44 million, up 5.07% from the year-ago period.
CRUS's full-year Zacks Consensus Estimates are calling for earnings of $5.37 per share and revenue of $1.6 billion. These results would represent year-over-year changes of +17.25% and +16.76%, respectively.
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. 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.
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.
Investors should also note Cirrus Logic's current valuation metrics, including its Forward P/E ratio of 16.72. This valuation marks a discount compared to its industry's average Forward P/E of 23.06.
We can also see that CRUS currently has a PEG ratio of 1.79. 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 1.62 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 72, putting it in the top 29% 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.