Cirrus Logic, Inc. (NASDAQ:CRUS) Given Average Rating of “Moderate Buy” by Brokerages

Cirrus Logic, Inc. (NASDAQ:CRUS) has been assigned an average recommendation of “Moderate Buy” from the seven research firms that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $132.50.

A number of analysts have recently issued reports on CRUS shares. Susquehanna lifted their price objective on shares of Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a research note on Monday, November 18th. Barclays dropped their price target on shares of Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 5th. StockNews.com raised shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Loop Capital began 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. Finally, Stifel Nicolaus reduced their price target on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating for the company in a report on Tuesday, November 5th.

Institutional Trading of Cirrus Logic

Several hedge funds and other institutional investors have recently bought and sold shares of CRUS. Pacer Advisors Inc. grew its position in shares of Cirrus Logic by 8,183.4% in the 2nd quarter. Pacer Advisors Inc. now owns 665,320 shares of the semiconductor company’s stock worth $84,935,000 after acquiring an additional 657,288 shares in the last quarter. LSV Asset Management boosted its holdings in Cirrus Logic by 34.6% in the second quarter. LSV Asset Management now owns 1,890,493 shares of the semiconductor company’s stock worth $241,340,000 after purchasing an additional 486,086 shares during the period. FMR LLC increased its stake in Cirrus Logic by 6.3% during the third quarter. FMR LLC now owns 3,678,141 shares of the semiconductor company’s stock valued at $456,862,000 after purchasing an additional 217,404 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of Cirrus Logic during the third quarter worth $16,340,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Cirrus Logic by 21.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 720,771 shares of the semiconductor company’s stock valued at $89,527,000 after buying an additional 129,457 shares during the period. 87.96% of the stock is owned by institutional investors.

Cirrus Logic Stock Performance

CRUS opened at $105.20 on Friday. The company has a market cap of $5.59 billion, a PE ratio of 17.83 and a beta of 0.92. Cirrus Logic has a 1 year low of $75.92 and a 1 year high of $147.46. The firm has a 50 day moving average price of $103.98 and a 200 day moving average price of $120.61.

Cirrus Logic (NASDAQ:CRUS) last issued its earnings results on Monday, November 4th. The semiconductor company reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.23. Cirrus Logic had a net margin of 17.19% and a return on equity of 18.15%. The business had revenue of $541.90 million for the quarter, compared to the consensus estimate of $520.53 million. During the same quarter last year, the firm posted $1.43 EPS. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. On average, sell-side analysts predict that Cirrus Logic will post 5.21 earnings per share for the current year.

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.