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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 at $87.17 in the latest trading session, marking a -1.3% move from the prior day. This change lagged the S&P 500's daily loss of 1.1%. At the same time, the Dow lost 0.89%, and the tech-heavy Nasdaq gained 0.03%.
Coming into today, shares of the chipmaker had lost 2.83% in the past month. In that same time, the Computer and Technology sector lost 5.94%, while the S&P 500 lost 1.81%.
Investors will be hoping for strength from Cirrus Logic as it approaches its next earnings release, which 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%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $511.13 million, up 5.21% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.37 per share and revenue of $1.6 billion, which would represent changes of +17.25% and +16.82%, respectively, from the prior year.
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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. Within the past 30 days, our consensus EPS projection has moved 0.09% higher. Cirrus Logic currently has a Zacks Rank of #2 (Buy).
Investors should also note Cirrus Logic's current valuation metrics, including its Forward P/E ratio of 16.44. For comparison, its industry has an average Forward P/E of 19.75, which means Cirrus Logic is trading at a discount to the group.
It is also worth noting that CRUS currently has a PEG ratio of 1.76. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. CRUS's industry had an average PEG ratio of 1.57 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 89, putting 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.
To follow CRUS in the coming trading sessions, be sure to utilize Zacks.com.
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Cirrus Logic (CRUS) Dips More Than Broader Markets: What You Should Know
Cirrus Logic (CRUS - Free Report) closed at $87.17 in the latest trading session, marking a -1.3% move from the prior day. This change lagged the S&P 500's daily loss of 1.1%. At the same time, the Dow lost 0.89%, and the tech-heavy Nasdaq gained 0.03%.
Coming into today, shares of the chipmaker had lost 2.83% in the past month. In that same time, the Computer and Technology sector lost 5.94%, while the S&P 500 lost 1.81%.
Investors will be hoping for strength from Cirrus Logic as it approaches its next earnings release, which 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%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $511.13 million, up 5.21% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.37 per share and revenue of $1.6 billion, which would represent changes of +17.25% and +16.82%, respectively, from the prior year.
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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. Within the past 30 days, our consensus EPS projection has moved 0.09% higher. Cirrus Logic currently has a Zacks Rank of #2 (Buy).
Investors should also note Cirrus Logic's current valuation metrics, including its Forward P/E ratio of 16.44. For comparison, its industry has an average Forward P/E of 19.75, which means Cirrus Logic is trading at a discount to the group.
It is also worth noting that CRUS currently has a PEG ratio of 1.76. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. CRUS's industry had an average PEG ratio of 1.57 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 89, putting 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.
To follow CRUS in the coming trading sessions, be sure to utilize Zacks.com.