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

Cirrus Logic, Inc. (NASDAQ:CRUS) has been assigned an average recommendation of “Moderate Buy” from the seven analysts that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $132.50.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Stonegate Investment Group LLC grew its holdings in shares of Cirrus Logic by 5.3% in the 3rd quarter. Stonegate Investment Group LLC now owns 1,776 shares of the semiconductor company’s stock worth $221,000 after acquiring an additional 90 shares during the period. Atria Investments Inc boosted its position in Cirrus Logic by 2.9% during the third quarter. Atria Investments Inc now owns 3,596 shares of the semiconductor company’s stock worth $447,000 after purchasing an additional 101 shares in the last quarter. Profund Advisors LLC grew its holdings in Cirrus Logic by 2.0% in the second quarter. Profund Advisors LLC now owns 5,271 shares of the semiconductor company’s stock valued at $673,000 after purchasing an additional 103 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Cirrus Logic by 98.4% in the third quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 120 shares in the last quarter. Finally, Oak Associates Ltd. OH raised its stake in shares of Cirrus Logic by 0.4% during the 2nd quarter. Oak Associates Ltd. OH now owns 34,176 shares of the semiconductor company’s stock worth $4,363,000 after buying an additional 134 shares during the last quarter. 87.96% of the stock is owned by hedge funds and other institutional investors.

Cirrus Logic Price Performance

Shares of NASDAQ:CRUS opened at $100.79 on Friday. The stock has a market cap of $5.36 billion, a P/E ratio of 17.08 and a beta of 0.93. Cirrus Logic has a 1-year low of $75.92 and a 1-year high of $147.46. The firm has a fifty day moving average price of $104.71 and a 200 day moving average price of $120.91.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results on Monday, November 4th. The semiconductor company reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.23. The firm had revenue of $541.90 million for the quarter, compared to analyst estimates 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 was up 12.6% on a year-over-year basis. During the same quarter last year, the company posted $1.43 earnings per share. Sell-side analysts expect that Cirrus Logic will post 5.21 EPS for the current fiscal year.

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.