Cirrus Logic, Inc. (NASDAQ:CRUS) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) have received an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the firm, Marketbeat Ratings 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 objective among brokers that have covered the stock in the last year is $132.50.

A number of research firms recently commented on CRUS. Barclays decreased their price target on 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. Susquehanna raised their price objective on Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a research note on Monday. StockNews.com cut shares of Cirrus Logic from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Stifel Nicolaus decreased their price target on shares of Cirrus Logic from $165.00 to $140.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Finally, Loop Capital assumed coverage on shares of Cirrus Logic in a research note on Tuesday, November 12th. They set a “buy” rating and a $130.00 price objective on the stock.

Cirrus Logic Stock Down 0.4 %

Cirrus Logic stock opened at $100.22 on Thursday. The firm has a market capitalization of $5.33 billion, a P/E ratio of 16.99 and a beta of 0.96. The firm has a fifty day moving average of $116.86 and a 200-day moving average of $123.18. Cirrus Logic has a 52-week low of $74.80 and a 52-week high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last issued 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. The company 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%. Cirrus Logic’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter last year, the company earned $1.43 earnings per share. On average, research analysts expect that Cirrus Logic will post 5.21 EPS for the current fiscal year.

Institutional Investors Weigh In On Cirrus Logic

A number of hedge funds have recently made changes to their positions in CRUS. Huntington National Bank increased its position in Cirrus Logic by 10,500.0% in the 3rd quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 210 shares during the period. Nisa Investment Advisors LLC grew its stake 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 worth $30,000 after purchasing an additional 120 shares in the last quarter. V Square Quantitative Management LLC bought a new position in shares of Cirrus Logic in the third quarter worth $31,000. Westside Investment Management Inc. acquired a new position in shares of Cirrus Logic during the third quarter valued at $35,000. Finally, Versant Capital Management Inc raised its stake in shares of Cirrus Logic by 1,911.1% during the second quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company’s stock valued at $46,000 after purchasing an additional 344 shares in the last quarter. 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.