Brokerages Set Cirrus Logic, Inc. (NASDAQ:CRUS) Price Target at $132.50

Cirrus Logic, Inc. (NASDAQ:CRUS) has been given an average rating of “Moderate Buy” by the seven brokerages that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price target among analysts 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. Stifel Nicolaus dropped their price target on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. StockNews.com upgraded shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Loop Capital initiated coverage on Cirrus Logic in a report on Tuesday, November 12th. They issued a “buy” rating and a $130.00 price objective on the stock. Barclays dropped their target price on Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating for the company in a report on Tuesday, November 5th. Finally, Susquehanna boosted their price objective on shares of Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a research report on Monday, November 18th.

Cirrus Logic Stock Up 1.2 %

Shares of CRUS opened at $99.29 on Tuesday. Cirrus Logic has a twelve month low of $75.92 and a twelve month high of $147.46. The stock has a market cap of $5.28 billion, a PE ratio of 16.83 and a beta of 0.92. The business’s 50-day moving average price is $102.83 and its 200-day moving average price is $117.33.

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

Institutional Investors Weigh In On Cirrus Logic

Institutional investors have recently made changes to their positions in the company. Huntington National Bank increased its position in Cirrus Logic by 10,500.0% in 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 in the last quarter. Nisa Investment Advisors LLC increased its holdings in Cirrus Logic by 98.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 120 shares during the last quarter. V Square Quantitative Management LLC bought a new position in shares of Cirrus Logic during the 3rd quarter valued at about $31,000. Westside Investment Management Inc. bought a new stake in Cirrus Logic in the 3rd quarter worth approximately $35,000. Finally, Sound Income Strategies LLC purchased a new stake in shares of Cirrus Logic during the 4th quarter worth approximately $46,000. Hedge funds and other institutional investors 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.