Is an Investment in Cirrus Logic Inc (NASDAQ:CRUS) as Risky as Its Decline Suggests?

[Zacks] Cirrus Logic Inc (NASDAQ:CRUS)(TREND ANALYSIS) Zacks Rank #1 (Strong Buy).The upgrade came on the back of positive estimate revisions over the last 60 days and better-than-expected first-quarter fiscal 2016 results. – See more at:

Also, Cirrus Logic’s shares are up 29.4% year-to-date and have yielded a strong return of 34.4% over the past one year. This makes the company an attractive investment opportunity. Cirrus Logic also delivered positive earnings surprises in the last four quarters with an average beat of 42.7%.

Over the last 60 days, one out of two estimates for Cirrus Logic was revised upward for fiscal 2016. The Zacks Consensus Estimate for fiscal 2016 increased 6.8% to $2.20 over the same time frame.
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Stock Performance: Click here for a free comprehensive Trend Analysis Report

Cirrus Logic Inc (NASDAQ:CRUS) stock is currently trading 29.06% below its 52-week-high, 61.31% above its 52-week-low. The 1-year stock price history is in the range of $16.8 – $38.2. Cirrus Logic Inc (CRUS) has a price to earnings ratio of 22.73 versus Technology sector average of 20.72. CRUS stock price has outperformed the Nasdaq by 12.4%. The Semiconductors Components company is currently valued at $1.72 billion and its share price closed the last trading session at $27.1. The stock has a 50-day moving average of $29.54 and a 200-day moving average of $33.15.

Cirrus Logic Inc (CRUS) current short interest stands at 5.56 million shares. It has decreased by 15% from the same period of last month. Around 9% of the company’s shares, which are float, are short sold. With a 10-days average volume of 0.96 million shares, the number of days required to cover the short positions stand at 5.9 days.

The company is expected to announce next quarter earnings on November 04, at consensus estimate of $0.49. Cirrus Logic Inc (CRUS) reported last quarter earnings on July 22. The Semiconductors Components company announced earnings per share of $0.46 against a consensus Street estimate of $0.37, beating the average estimate by $0.09. This corresponds to an increase of $0.09 compared to the same quarter of the previous fiscal year.

Is this a Buying Opportunity? Click here for a free Trend Analysis Report

There are currently seven analysts that cover Cirrus Logic Inc stock. Of those seven, five have a Buy rating, two have a Hold rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $44.4.

A recent analyst activity consisted of Stifel Nicolaus upgrading their Hold rating to Buy on July 23. On the date of report, the stock closed at $35.73.

Barclays reiterated their Overweight stance on May 26, and increased their price target on CRUS stock from $37 to $39. This corresponds to a 43.91% upside from the last closing price. On the date of report, the stock closed at $35.97.

Company profile

Cirrus Logic, Inc. designs and manufactures integrated circuits that employ precision linear and advanced mixed-signal processing technologies. The Company’s products enable system-level applications in mass storage, audio, and precision data conversion. Cirrus serves a broad customer base in the mass storage, industrial, and audio markets.

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