Brokerages Set Cirrus Logic, Inc. (NASDAQ:CRUS) PT at $131.67

Cirrus Logic, Inc. (NASDAQ:CRUS) has received a consensus rating of “Moderate Buy” from the seven ratings firms that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $131.67.

A number of equities analysts recently issued reports on CRUS shares. Barclays dropped their price target on shares of Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 5th. Susquehanna dropped their target price on shares of Cirrus Logic from $160.00 to $135.00 and set a “positive” rating on the stock in a research note on Tuesday, November 5th. StockNews.com downgraded shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Stifel Nicolaus lowered their price objective on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Finally, Loop Capital began coverage on Cirrus Logic in a research note on Tuesday, November 12th. They set a “buy” rating and a $130.00 target price on the stock.

Cirrus Logic Stock Down 0.8 %

Shares of CRUS opened at $100.67 on Thursday. The stock has a market cap of $5.35 billion, a P/E ratio of 17.06 and a beta of 0.96. The business’s 50 day moving average price is $118.87 and its 200-day moving average price is $122.88. Cirrus Logic has a 52 week low of $74.80 and a 52 week high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last released its earnings results on Monday, November 4th. The semiconductor company reported $2.25 EPS for the quarter, topping 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 business had revenue of $541.90 million for the quarter, compared to the consensus estimate of $520.53 million. During the same period in the previous year, the company posted $1.43 earnings per share. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. On average, equities analysts anticipate that Cirrus Logic will post 5.21 EPS for the current year.

Institutional Investors Weigh In On Cirrus Logic

A number of hedge funds have recently added to or reduced their stakes in CRUS. Vanguard Group Inc. grew its holdings in shares of Cirrus Logic by 2.1% in the first 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 period. FMR LLC boosted its position in Cirrus Logic by 6.3% in the third quarter. FMR LLC now owns 3,678,141 shares of the semiconductor company’s stock worth $456,862,000 after purchasing an additional 217,404 shares during the last quarter. LSV Asset Management grew its stake in shares of Cirrus Logic by 34.6% during the 2nd quarter. LSV Asset Management now owns 1,890,493 shares of the semiconductor company’s stock valued at $241,340,000 after purchasing an additional 486,086 shares during the period. Earnest Partners LLC increased its position in shares of Cirrus Logic by 3.0% during the 2nd quarter. Earnest Partners LLC now owns 1,358,140 shares of the semiconductor company’s stock valued at $173,380,000 after purchasing an additional 39,759 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Cirrus Logic by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,138,279 shares of the semiconductor company’s stock worth $141,414,000 after purchasing an additional 50,582 shares during the period. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

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.