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

Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) have earned a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the company, Marketbeat.com reports. Two equities research 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 covered the stock in the last year is $132.50.

A number of equities research analysts recently weighed in on the company. Loop Capital initiated coverage on Cirrus Logic in a research report on Tuesday, November 12th. They set a “buy” rating and a $130.00 price objective on the stock. Susquehanna upped their price objective on Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a research note on Monday, November 18th. StockNews.com upgraded shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Stifel Nicolaus reduced their target price on shares of Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Finally, Barclays dropped 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 research note on Tuesday, November 5th.

Institutional Investors Weigh In On Cirrus Logic

Several institutional investors and hedge funds have recently made changes to their positions in the business. Huntington National Bank lifted its stake in Cirrus Logic by 10,500.0% in the third quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 210 shares during the period. Nisa Investment Advisors LLC lifted its position 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 valued at $30,000 after acquiring an additional 120 shares during the period. V Square Quantitative Management LLC bought a new position in Cirrus Logic during the third quarter worth $31,000. Westside Investment Management Inc. acquired a new stake in Cirrus Logic in the third quarter worth $35,000. Finally, GAMMA Investing LLC increased its stake in Cirrus Logic by 81.2% in the third quarter. GAMMA Investing LLC now owns 859 shares of the semiconductor company’s stock valued at $107,000 after purchasing an additional 385 shares in the last quarter. Institutional investors own 87.96% of the company’s stock.

Cirrus Logic Stock Performance

CRUS stock opened at $105.20 on Friday. The firm has a 50-day moving average price of $103.70 and a 200-day moving average price of $120.39. Cirrus Logic has a 12 month low of $75.92 and a 12 month high of $147.46. The stock has a market capitalization of $5.59 billion, a P/E ratio of 17.83 and a beta of 0.92.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Monday, November 4th. The semiconductor company reported $2.25 EPS for the quarter, beating the consensus estimate of $2.02 by $0.23. The business had revenue of $541.90 million during the quarter, compared to the consensus estimate of $520.53 million. Cirrus Logic had a net margin of 17.19% and a return on equity of 18.15%. The firm’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.43 EPS. As a group, equities analysts predict 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.