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

Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) have been assigned an average rating of “Moderate Buy” from the seven analysts that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $132.50.

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

Hedge Funds Weigh In On Cirrus Logic

Large investors have recently made changes to their positions in the business. Huntington National Bank boosted its holdings in Cirrus Logic by 10,500.0% during the third quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock worth $26,000 after buying an additional 210 shares in the last quarter. 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 last quarter. V Square Quantitative Management LLC bought a new stake in shares of Cirrus Logic during the 3rd quarter worth $31,000. Westside Investment Management Inc. acquired a new position in shares of Cirrus Logic in the 3rd quarter worth $35,000. Finally, GAMMA Investing LLC raised its position in shares of Cirrus Logic by 81.2% during the third quarter. GAMMA Investing LLC now owns 859 shares of the semiconductor company’s stock worth $107,000 after purchasing an additional 385 shares during the period. Institutional investors own 87.96% of the company’s stock.

Cirrus Logic Price Performance

Shares of CRUS opened at $105.20 on Friday. Cirrus Logic has a 12 month low of $75.92 and a 12 month high of $147.46. The stock has a fifty day moving average price of $103.98 and a 200 day moving average price of $120.61. The company has a market cap of $5.59 billion, a P/E ratio of 17.83 and a beta of 0.92.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly 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. The business had revenue of $541.90 million during the quarter, compared to analyst estimates of $520.53 million. Cirrus Logic had a net margin of 17.19% and a return on equity of 18.15%. The company’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.43 earnings per share. As a group, research analysts anticipate that Cirrus Logic will post 5.21 earnings per share for the current 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.