KeyBanc took its Cirrus Logic [CRUS] rating to the equivalent of Overweight from Sector Weight, and the price target to $100, in a research note dated 2021-01-06. That figure represents around a 15.79% premium from where the company’s shares closed on Tuesday. Other analysts also revised their coverage, with Cowen’s analysts reiterating the shares to “an Outperform” rating in a research note to investors issued in early November. Meanwhile, Barclays had raised its rating on CRUS to “an Equal weight” from the earlier “an Underweight”, in a research note produced for clients September 14, 2020. In addition, there was an upgrade from Craig Hallum on September 10, 2020. The rater changed CRUS from “a Hold” to “a Buy”.
Is Cirrus Logic Inc. [NASDAQ:CRUS] a Good Buy Right Now?
It should be noted that CRUS technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 100% Buy in the last week and compares with 100% Buy in the past month. Data from Cirrus Logic Inc.’s Trend Spotter indicated that the signals were Strongest. The stock current average is 0.44 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 0.49 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.54 million shares.
CRUS Price Performance
On Wall Street, Cirrus Logic Inc. [NASDAQ:CRUS] finished Tuesday’s session up 2.65% at $86.36. The stock went up to $86.58 at the same session while its lowest single day price was $84.14. In the last five days, it saw a rise of about 5.33%, Cirrus Logic Inc. shares gained by almost 5.06% since the beginning of the year. However, the share price has dropped to as low as -5.75% below its one year high. On 01/05/21, the company shares recorded $86.58, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $82.40. The company’s shares have inclined by 4.36% in the past year. The 50-day SMA achieved is $77.29 while the 200-day SMA is $68.63. Volume dropped to 0.54 million from 0.65 million in the previous session.
Cirrus Logic Inc. [CRUS] Valuation Measures
Notably, Cirrus Logic Inc. [CRUS] stock cannot be classified as a good candidate in the listing of underestimated low-priced Semiconductors companies to purchase soonest possible with the prevailing 12-month PE ratio of 33.33. The measure means the stock is exchanging at a premium as compared to the 32.75x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 4.01 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 2.64 which means CRUS serve an unattractive investment opportunity compared to its competitors.
CRUS Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 84.81 level, and in case of violation of this particular level, it will cause more drop to 83.25 level. On the upper level, 88.13 is still the key resistance. The stock may increase to the subsequent resistance at 87.25. The Relative Strength Index (RSI) pinned on the 14-day chart is 69.44, implying a neutral technical stance while the MACD stands at 2.52, meaning price will increase in the next trading period. Percent R indicator moved to 2.72%, implying bullish price movement. Stochastic %K at 87.85% suggest selling the stock.
What is the short interest in Cirrus Logic Inc.?
Short interest in the Cirrus Logic Inc. stock has plunged, decreasing by 18270.0 shares to total 0.99 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 0.97 million, data from Yahoo Finance shows. The increase of 1.84% suggests the stock saw some increased bearish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 2.33% of the overall float for the stock.
Cirrus Logic Inc.’s Biggest Shareholders: Who Owns Cirrus Logic Inc. [CRUS]?
Filings by Fidelity Management & Research Co showed that the firm now holds a total of 7,844,044 shares or roughly 13.53% of the outstanding CRUS shares. This means their shares have increased by 233,654 from the 7,844,044 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, The Vanguard Group, Inc. updated stake is worth $449,606,747. Details in the latest 13F filings reveal that BlackRock Fund Advisors disposed off their -5.45% stake valued at $430,167,118 while Whale Rock Capital Management LLC added theirs at $236,111,731. During the last quarter, BlackRock Fund Advisors liquidated -309,286 of its shares in Cirrus Logic Inc. while Whale Rock Capital Management LLC bought 848,686 shares. The SSgA Funds Management, Inc.’s holdings currently number 1,601,653 shares at $138318753.08. According to the firm’s last 13F report, Dimensional Fund Advisors LP shares in the company at filing stood at 1,587,010 shares, roughly $127,119,501.
CRUS Earnings Forecast For The Current Quarter
Cirrus Logic Inc. [CRUS] is expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $460.8M and an earnings per share of $1.86 for Dec 2020. Looking further ahead, the company is expected to report revenue of $296.54M at an EPS of $0.69 for Mar 2021. The estimates represent 5.50% and 3.23% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
CRUS Earnings Estimates For The Current Year
For the financial year, Cirrus Logic Inc. [NASDAQ:CRUS] is expected to bring in revenue of $1.35B. The returns are nearly $70.0 million higher than the company’s actual revenue recorded in the fiscal year 2020. In terms of EPS for the 2021, estimate put it at 4.33, higher than that of FY20 by $0.34. Estimates put this year’s earnings growth at 8.50%, 3.20% for the next, and at an annual 4.40% over the next 5-year period. As for sales, forecasts are for an increase of 5.20% in the current fiscal year and a further 5.50% over the following year.