Cirrus Logic (NASDAQ:CRUS) Price Target Raised to $140.00

Cirrus Logic (NASDAQ:CRUS) had its price target increased by Susquehanna from $135.00 to $140.00 in a research note issued to investors on Monday,Benzinga reports. They currently have a positive rating on the semiconductor company’s stock.

CRUS has been the subject of a number of other research reports. KeyCorp upped their price target on Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. StockNews.com downgraded Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Barclays reduced their price target on Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 5th. Loop Capital began coverage on Cirrus Logic in a report on Tuesday, November 12th. They issued a “buy” rating and a $130.00 price objective for the company. Finally, Stifel Nicolaus cut their price objective on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $132.50.

Cirrus Logic Stock Down 0.4 %

Shares of NASDAQ CRUS opened at $100.22 on Monday. The firm’s 50-day simple moving average is $116.86 and its 200 day simple moving average is $123.18. The company has a market cap of $5.33 billion, a price-to-earnings ratio of 16.99 and a beta of 0.96. Cirrus Logic has a 12-month low of $74.80 and a 12-month high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly 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. The company had revenue of $541.90 million during the quarter, compared to analysts’ expectations of $520.53 million. Cirrus Logic had a return on equity of 18.15% and a net margin of 17.19%. Cirrus Logic’s revenue was up 12.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.43 EPS. On average, equities analysts expect that Cirrus Logic will post 5.21 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Pacer Advisors Inc. lifted its position in shares of Cirrus Logic by 8,183.4% during the 2nd quarter. Pacer Advisors Inc. now owns 665,320 shares of the semiconductor company’s stock valued at $84,935,000 after buying an additional 657,288 shares during the last quarter. LSV Asset Management lifted its position 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 buying an additional 486,086 shares during the last quarter. FMR LLC lifted its position in shares of Cirrus Logic by 6.3% during the 3rd quarter. FMR LLC now owns 3,678,141 shares of the semiconductor company’s stock valued at $456,862,000 after buying an additional 217,404 shares during the last quarter. DNB Asset Management AS bought a new stake in shares of Cirrus Logic during the 2nd quarter valued at $23,250,000. Finally, Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of Cirrus Logic during the 3rd quarter valued at $16,340,000. Hedge funds and other institutional investors own 87.96% of the company’s stock.

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.