Cirrus Logic, Inc. (NASDAQ:CRUS) Receives $132.50 Average PT from Brokerages

Cirrus Logic, Inc. (NASDAQ:CRUS) has been assigned a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $132.50.

Several equities research analysts have issued reports on CRUS shares. StockNews.com raised shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. Susquehanna raised their target price on shares of Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a research report on Monday, November 18th. Loop Capital assumed coverage on Cirrus Logic in a report on Tuesday, November 12th. They issued a “buy” rating and a $130.00 price target for the company. Barclays decreased their price objective on Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 5th. Finally, Stifel Nicolaus lowered their price objective on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th.

Institutional Trading of Cirrus Logic

Institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC boosted its holdings in Cirrus Logic by 6.3% in the third quarter. FMR LLC now owns 3,678,141 shares of the semiconductor company’s stock valued at $456,862,000 after acquiring an additional 217,404 shares during the last quarter. LSV Asset Management lifted its stake in shares of Cirrus Logic by 34.6% in the 2nd quarter. LSV Asset Management now owns 1,890,493 shares of the semiconductor company’s stock valued at $241,340,000 after purchasing an additional 486,086 shares in the last quarter. Earnest Partners LLC lifted its stake in shares of Cirrus Logic by 3.0% in the 2nd quarter. Earnest Partners LLC now owns 1,358,140 shares of the semiconductor company’s stock valued at $173,380,000 after purchasing an additional 39,759 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Cirrus Logic by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,138,279 shares of the semiconductor company’s stock worth $141,414,000 after purchasing an additional 50,582 shares during the period. Finally, Pacer Advisors Inc. increased its position in Cirrus Logic by 32.3% during the 3rd quarter. Pacer Advisors Inc. now owns 880,446 shares of the semiconductor company’s stock worth $109,360,000 after purchasing an additional 215,126 shares in the last quarter. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Cirrus Logic Price Performance

Shares of Cirrus Logic stock opened at $100.79 on Friday. Cirrus Logic has a 1 year low of $75.92 and a 1 year high of $147.46. The business has a 50 day moving average price of $104.71 and a 200 day moving average price of $120.91. The company has a market capitalization of $5.36 billion, a P/E ratio of 17.08 and a beta of 0.93.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results 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. The company had revenue of $541.90 million during the quarter, compared to analysts’ expectations of $520.53 million. Cirrus Logic had a return on equity of 18.15% and a net margin of 17.19%. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.43 earnings per share. As a group, research analysts expect that Cirrus Logic will post 5.21 EPS for the current fiscal year.

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.