CRUS Stock Summary and Trading Ideas (Cirrus Logic | NASDAQ:CRUS)

Cirrus Logic Inc is a provider of integrated circuits for audio and voice signal processing applications. The firm's products are organized into two streams: portable audio products, and non-portable audio and other products. These products include analog and mixed-signal components targeting mobile devices, smart homes, and applications in the automotive, energy, and industrial markets. Roughly half of the firm's revenue is generated in China, with the rest coming from the United States, Europe, South Korea, and countries across the world.

Cirrus Logic trades on the NASDAQ stock market under the symbol CRUS.

As of April 19, 2024, CRUS stock price declined to $82.02 with 246,361 million shares trading.

CRUS has a beta of 1.51, meaning it tends to be more sensitive to market movements. CRUS has a correlation of 0.24 to the broad based SPY ETF.

CRUS has a market cap of $4.42 billion. This is considered a Mid Cap stock.

Last quarter Cirrus Logic reported $619 million in Revenue and $2.89 earnings per share. This beat revenue expectation by $79 million and exceeded earnings estimates by $.88.

In the last 3 years, CRUS stock traded as high as $111.15 and as low as $61.94.

The top ETF exchange traded funds that CRUS belongs to (by Net Assets): VTI, IJH, VB, VBR, VXF.

CRUS has underperformed the market in the last year with a price return of -7.7% while the SPY ETF gained +21.2%. CRUS has also underperformed the stock market ETF in the last 3 month and 2 week periods returning +3.2% and -9.3%, respectively, while the SPY returned +4.3% and -3.5%, respectively.

CRUS support price is $81.86 and resistance is $84.64 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that CRUS stock will trade within this expected range on the day.