Cirrus Logic, Inc (NASDAQ:CRUS) shares, rose in value on Friday, November 01, with the stock price up by 0.44% to the previous day’s close as strong demand from buyers drove the stock to $110.30.
Actively observing the price movement in the last trading, the stock closed the session at $109.82, falling within a range of $109.56 and $112.24. The value of beta (5-year monthly) was 0.958 whereas the PE ratio was 20.43 over 12-month period. Referring to stock’s 52-week performance, its high was $147.46, and the low was $65.08. On the whole, CRUS has fluctuated by -7.21% over the past month.
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With the market capitalization of Cirrus Logic, Inc currently standing at about $5.89 billion, investors are eagerly awaiting this quarter’s results, scheduled for on 2024-Nov-04.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 1.89B, with a low estimate of 519.8M and a high estimate of 522.36M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 520.48M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that CRUS’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium-term indicators have put the stock in the category of Hold while long-term indicators on average have been pointing out that it is a 50% Sell.
The stock’s technical analysis shows that the PEG ratio is about 17.03, with the price of CRUS currently trading nearly -8.24% and -12.66% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 32.12, while the 7-day volatility ratio is showing 3.79% which for the 30-day chart, stands at 3.02%. Furthermore, Cirrus Logic, Inc (CRUS)’s beta value is 0.96, and its average true range (ATR) is 4.12.
A comparison of Cirrus Logic, Inc (CRUS) with its peers suggests the former has fared considerably weaker in the market. CRUS showed an intraday change of 0.44% in last session, and over the past year, it grew by 62.35%%.
Data on historical trading for Cirrus Logic, Inc (NASDAQ:CRUS) indicates that the trading volumes over the past 10 days have averaged 0.65 and over the past 3 months, they’ve averaged 577.07K. According to company’s latest data on outstanding shares, there are 53.49 million shares outstanding.
Nearly 0.54% of Cirrus Logic, Inc’s shares belong to company insiders and institutional investors own 92.40% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 1.96 million shares as on 2024-10-15, resulting in a short ratio of 3.02. According to the data, the short interest in Cirrus Logic, Inc (CRUS) stood at 550.00 of shares outstanding as of 2024-10-15; the number of short shares registered in 2024-09-13 reached 1.16 million. The stock has risen by 32.59% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CRUS stock heading into the next quarter.
