Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (56767)	7/15/2023 4:07:17 PM
From: Johnny Canuck	Read Replies (1) \| Respond to of 67751

Bear of the Day: Cirrus Logic (CRUS) David Bartosiak July 7, 2023 In this article: CRUS -3.22% Watchlist Watchlist Significant Event \| 3d Cirrus Logic Inc Notified Its Employees That It Has Implemented A Workforce Reduction Of Approximately 5% Of Its Global Employees Tech stocks have been exceptionally hot coming off the October lows. Those with some connection to AI have really been rocking and rolling. That is why we have seen huge moves in the likes of NVIDIA and AMD. Today’s Bear of the Day is a stock in the Electronics – Semiconductor industry. It’s Zacks Rank #5 (Strong Sell) Cirrus Logic. (CRUS). Cirrus a fabless semiconductor company, develops low-power, high-precision mixed-signal processing solutions in China, the United States, and internationally. The company offers audio products, including codecs components that integrate analog-to-digital converters (ADCs) and digital-to-analog converters (DACs) into a single integrated circuit (IC); smart codecs, a codec with digital signal processing; boosted amplifiers; standalone digital signal processors; and SoundClear technology, which consists of a portfolio of tools, software, and algorithms that helps to enhance user experience with features, such as louder, high-fidelity sound, audio playback, voice capture, and hearing augmentation. The reason for the unfavorable Zacks Rank is the recent negative earnings estimate revisions coming from analysts. Over the last ninety days, two analysts have come in and cut estimates for the current year while one has done so for next year. The bearish sentiment has forced our Zacks Consensus Estimate down from $6.52 to $5.12 for the current year and down from $6.31 to $6.07 for next year. Zacks Investment Research Image Source: Zacks Investment Research That puts current year EPS forecasts at a 20.25% contraction with 18.61% growth next year. On the revenue side, that translates to a 9.59% contraction this year, with growth coming in at 11.68% next year. The Electronics – Semiconductors industry ranks in the Bottom 29% of our Zacks Industry Rank. There are a few names within the industry that are in the good graces of our Zacks Rank. These include Zacks Rank #1 (Buy) stocks Allegro Micro Systems (ALGM) and Rambus (RMBS). Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report