Cirrus Logic, Inc. (NASDAQ:CRUS) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) have received an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $132.50.

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

Cirrus Logic Stock Down 2.0 %

Shares of NASDAQ:CRUS opened at $99.42 on Tuesday. The company has a market capitalization of $5.28 billion, a price-to-earnings ratio of 16.85 and a beta of 0.92. The company has a 50 day moving average of $102.93 and a two-hundred day moving average of $117.85. Cirrus Logic has a 52-week low of $75.92 and a 52-week high of $147.46.

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

Hedge Funds Weigh In On Cirrus Logic

Hedge funds have recently added to or reduced their stakes in the company. Huntington National Bank increased its position in Cirrus Logic by 10,500.0% during the third quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock worth $26,000 after buying an additional 210 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Cirrus Logic by 98.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 120 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Cirrus Logic during the 3rd quarter valued at about $31,000. Westside Investment Management Inc. bought a new position in shares of Cirrus Logic in the 3rd quarter valued at approximately $35,000. Finally, Sound Income Strategies LLC acquired a new stake in Cirrus Logic in the 4th quarter worth approximately $46,000. Institutional investors and hedge funds own 87.96% of the company’s stock.

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.