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

Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) have received a consensus rating of “Moderate Buy” from the seven analysts that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $132.50.

A number of brokerages recently weighed in on CRUS. Loop Capital initiated coverage on shares of Cirrus Logic in a research report on Tuesday, November 12th. They issued a “buy” rating and a $130.00 price target for the company. Susquehanna upped their target price on Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a research report on Monday. Barclays cut their price target on Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 5th. KeyCorp increased their price objective on Cirrus Logic from $155.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Finally, StockNews.com cut shares of Cirrus Logic from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th.

Cirrus Logic Price Performance

NASDAQ:CRUS opened at $101.06 on Thursday. The firm has a market capitalization of $5.37 billion, a PE ratio of 17.13 and a beta of 0.96. The business’s fifty day moving average price is $118.20 and its 200 day moving average price is $123.26. Cirrus Logic has a 12 month low of $74.80 and a 12 month high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings data on Monday, November 4th. The semiconductor company reported $2.25 earnings per share for the quarter, topping 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 company had revenue of $541.90 million for the quarter, compared to analysts’ expectations of $520.53 million. During the same quarter last year, the company earned $1.43 earnings per share. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. As a group, equities analysts anticipate that Cirrus Logic will post 5.21 EPS for the current year.

Hedge Funds Weigh In On Cirrus Logic

Hedge funds and other institutional investors have recently bought and sold shares of the company. Huntington National Bank lifted its stake in shares of Cirrus Logic by 10,500.0% in the 3rd quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 210 shares during the period. Nisa Investment Advisors LLC raised its holdings in Cirrus Logic by 98.4% during the third quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 120 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in Cirrus Logic in the third quarter valued at about $31,000. Versant Capital Management Inc boosted its holdings in Cirrus Logic by 1,911.1% in the 2nd quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company’s stock valued at $46,000 after purchasing an additional 344 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in Cirrus Logic by 79.5% during the 2nd quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company’s stock worth $61,000 after purchasing an additional 210 shares during the period. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Cirrus Logic Company Profile

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.