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

Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) have been given an average recommendation of “Moderate Buy” by the seven analysts that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $131.67.

Several analysts have recently commented on the stock. Loop Capital assumed coverage on shares of Cirrus Logic in a research report on Tuesday. They set a “buy” rating and a $130.00 price objective on the stock. Susquehanna decreased their price objective on shares of Cirrus Logic from $160.00 to $135.00 and set a “positive” rating on the stock in a research report on Tuesday, November 5th. Barclays decreased their price objective on shares of 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. StockNews.com cut shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, KeyCorp raised their target price on shares of Cirrus Logic from $155.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th.

Cirrus Logic Trading Down 4.1 %

Shares of CRUS stock opened at $100.39 on Thursday. Cirrus Logic has a 12 month low of $73.74 and a 12 month high of $147.46. The stock has a market cap of $5.33 billion, a P/E ratio of 17.02 and a beta of 0.96. The company has a 50 day simple moving average of $120.23 and a two-hundred day simple moving average of $122.71.

Cirrus Logic (NASDAQ:CRUS) last announced 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 during the quarter, compared to analysts’ expectations of $520.53 million. During the same period in the prior year, the company earned $1.43 earnings per share. The firm’s revenue was up 12.6% on a year-over-year basis. As a group, equities analysts forecast that Cirrus Logic will post 5.21 earnings per share for the current year.

Hedge Funds Weigh In On Cirrus Logic

A number of institutional investors and hedge funds have recently made changes to their positions in CRUS. Vanguard Group Inc. lifted its holdings in shares of Cirrus Logic by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 6,363,188 shares of the semiconductor company’s stock worth $588,977,000 after acquiring an additional 128,393 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in shares of Cirrus Logic by 13.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 48,030 shares of the semiconductor company’s stock worth $4,446,000 after acquiring an additional 5,645 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Cirrus Logic by 52.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 961 shares of the semiconductor company’s stock worth $123,000 after acquiring an additional 329 shares during the last quarter. Susquehanna Fundamental Investments LLC lifted its holdings in shares of Cirrus Logic by 741.0% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 27,754 shares of the semiconductor company’s stock worth $3,543,000 after acquiring an additional 24,454 shares during the last quarter. Finally, Raymond James & Associates lifted its holdings in shares of Cirrus Logic by 48.4% in the 3rd quarter. Raymond James & Associates now owns 33,459 shares of the semiconductor company’s stock worth $4,156,000 after acquiring an additional 10,919 shares during the last quarter. 87.96% of the stock is owned by hedge funds and other institutional investors.

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.