Cirrus Logic, Inc. (NASDAQ:CRUS) Receives $131.67 Average PT from Analysts

Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) have been given a consensus recommendation of “Moderate Buy” by the seven ratings firms that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $132.50.

CRUS has been the topic of several analyst reports. Stifel Nicolaus lowered their target price on shares of Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Loop Capital initiated coverage on Cirrus Logic in a research report on Tuesday, November 12th. They set a “buy” rating and a $130.00 target price on the stock. Susquehanna raised their price target on Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a report on Monday. StockNews.com lowered Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, KeyCorp lifted their price objective on Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th.

Cirrus Logic Price Performance

Shares of CRUS opened at $100.22 on Thursday. The firm has a fifty day moving average price of $116.86 and a 200 day moving average price of $123.18. The stock has a market cap of $5.33 billion, a PE ratio of 16.99 and a beta of 0.96. Cirrus Logic has a 1-year low of $74.80 and a 1-year high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results on Monday, November 4th. The semiconductor company reported $2.25 EPS for the quarter, beating the consensus estimate of $2.02 by $0.23. Cirrus Logic had a net margin of 17.19% and a return on equity of 18.15%. The firm had revenue of $541.90 million during the quarter, compared to the consensus estimate of $520.53 million. During the same quarter in the prior year, the firm earned $1.43 EPS. Cirrus Logic’s revenue for the quarter was up 12.6% on a year-over-year basis. As a group, equities analysts expect that Cirrus Logic will post 5.21 EPS for the current fiscal year.

Hedge Funds Weigh In On Cirrus Logic

Several institutional investors have recently added to or reduced their stakes in CRUS. Huntington National Bank grew its holdings in Cirrus Logic by 10,500.0% in the 3rd quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 210 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of Cirrus Logic by 98.4% in the third quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 120 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in Cirrus Logic in the third quarter valued at approximately $31,000. Westside Investment Management Inc. acquired a new position in Cirrus Logic during the third quarter worth approximately $35,000. Finally, Versant Capital Management Inc raised its stake in Cirrus Logic by 1,911.1% during the second quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company’s stock worth $46,000 after purchasing an additional 344 shares during the period. 87.96% of the stock is currently owned by institutional investors and hedge funds.

About Cirrus Logic

Cirrus Logic, Inc, 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 amplifiers; 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 integrated digital signal processing; 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 for use in smartphones, tablets, laptops, AR/VR headsets, home theater systems, automotive entertainment systems, and professional audio systems.