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Cirrus Logic (CRUS) closed at $86.20 in the latest trading session, marking a -1.11% move from the prior day. This change was narrower than the S&P 500's 1.89% loss on the day. Elsewhere, the Dow lost 1.3%, while the tech-heavy Nasdaq lost 0.17%.
Heading into today, shares of the chipmaker had lost 4.69% over the past month, outpacing the Computer and Technology sector's loss of 6.14% and lagging the S&P 500's loss of 1.79% in that time.
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, our latest consensus estimate is calling for revenue of $511.13 million, up 5.21% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.37 per share and revenue of $1.6 billion. These totals would mark changes of +17.25% and +16.82%, respectively, from last year.
Any recent changes to analyst estimates for Cirrus Logic should also be noted by investors. 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.
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.
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 is currently sporting a Zacks Rank of #2 (Buy).
Looking at its valuation, Cirrus Logic is holding a Forward P/E ratio of 16.22. This valuation marks a discount compared to its industry's average Forward P/E of 19.02.
Investors should also note that CRUS has a PEG ratio of 1.74 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. The Electronics - Semiconductors industry currently had an average PEG ratio of 1.54 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 74, which puts it in the top 30% 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.
To follow CRUS in the coming trading sessions, be sure to utilize Zacks.com.
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Cirrus Logic, Inc. (CRUS) : Free Stock Analysis Report
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