Paul Tudor Jones sees potential market rally after late October
Cirrus Logic Inc. (NASDAQ:CRUS) stock has experienced a notable downturn, touching a 52-week low of $80.33. According to InvestingPro analysis, the stock’s RSI indicates oversold conditions, while the company maintains a "GREAT" financial health score. Technical analysis suggests potential value opportunity, with 12 additional ProTips available for subscribers. This latest price level represents a significant retreat from previous valuations, marking a challenging period for the semiconductor company. Despite the decline, Cirrus Logic maintains robust fundamentals with a healthy 52% gross margin and more cash than debt on its balance sheet. Over the past year, Cirrus Logic’s shares have declined 12.97%, yet analysts remain optimistic with upward earnings revisions for the upcoming period. Investors are closely monitoring the company’s performance and market position as it navigates through these turbulent times. For comprehensive analysis, access the detailed Pro Research Report available on InvestingPro, covering 1,400+ top US stocks.
In other recent news, Cirrus Logic reported impressive fiscal third-quarter earnings and revenue, surpassing Wall Street expectations. The company posted adjusted earnings per share of $2.51, beating the analyst consensus estimate of $2.03. Revenue reached $555.7 million, significantly higher than the anticipated $521.44 million. This strong performance was largely driven by higher-than-expected shipments into smartphones, with robust demand for the company’s audio components. Cirrus Logic also noted progress in its laptop business, being featured in Intel (NASDAQ:INTC)’s Arrow Lake reference design. Looking ahead, the company expects fourth-quarter revenue between $350 million and $410 million, compared to the $379.8 million consensus estimate. In analyst updates, Benchmark maintained its Buy rating on Cirrus Logic with a $125 price target, expressing optimism about the company’s revenue growth strategy and diversification into new markets. The analyst highlighted opportunities in the PC and automotive sectors as areas of potential growth for Cirrus Logic.
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