Cirrus Logic (CRUS) Rating Reiterated by Craig Hallum

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Craig Hallum reissued their buy rating on shares of Cirrus Logic (NASDAQ:CRUS) in a report issued on Tuesday morning, MarketBeat reports. They currently have a $44.00 price objective on the semiconductor company’s stock, down from their prior price objective of $47.00.

A number of other brokerages also recently weighed in on CRUS. ValuEngine upgraded Cirrus Logic from a sell rating to a hold rating in a report on Thursday, November 1st. BidaskClub downgraded Cirrus Logic from a hold rating to a sell rating in a report on Tuesday, September 18th. Needham & Company LLC reiterated a hold rating on shares of Cirrus Logic in a report on Wednesday, November 21st. TheStreet upgraded Cirrus Logic from a c+ rating to a b- rating in a report on Thursday, November 8th. Finally, Zacks Investment Research downgraded Cirrus Logic from a hold rating to a sell rating in a report on Monday, November 12th. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. The company currently has an average rating of Hold and an average target price of $45.88.

Shares of NASDAQ CRUS opened at $36.75 on Tuesday. Cirrus Logic has a twelve month low of $34.49 and a twelve month high of $55.13. The company has a market capitalization of $2.27 billion, a PE ratio of 9.96, a PEG ratio of 1.29 and a beta of 0.50.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings results on Thursday, November 1st. The semiconductor company reported $1.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.34. Cirrus Logic had a return on equity of 15.55% and a net margin of 7.09%. The business had revenue of $366.30 million during the quarter, compared to the consensus estimate of $330.27 million. During the same period in the previous year, the business earned $1.36 EPS. The business’s quarterly revenue was down 13.9% on a year-over-year basis. On average, sell-side analysts predict that Cirrus Logic will post 1.96 earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in CRUS. Partner Fund Management L.P. acquired a new position in Cirrus Logic during the 2nd quarter valued at approximately $28,998,000. JPMorgan Chase & Co. boosted its position in Cirrus Logic by 98.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,328,248 shares of the semiconductor company’s stock valued at $51,271,000 after purchasing an additional 657,662 shares during the period. BlackRock Inc. boosted its position in Cirrus Logic by 7.8% during the 2nd quarter. BlackRock Inc. now owns 8,486,370 shares of the semiconductor company’s stock valued at $325,283,000 after purchasing an additional 610,960 shares during the period. Franklin Resources Inc. acquired a new position in Cirrus Logic during the 3rd quarter valued at approximately $20,366,000. Finally, Prudential Financial Inc. boosted its position in Cirrus Logic by 354.3% during the 3rd quarter. Prudential Financial Inc. now owns 388,916 shares of the semiconductor company’s stock valued at $15,012,000 after purchasing an additional 303,317 shares during the period. Institutional investors and hedge funds own 90.44% of the company’s stock.

About Cirrus Logic

Cirrus Logic, Inc, a fabless semiconductor company, develops, manufactures, and markets analog and mixed-signal integrated circuits (ICs) for a range of consumer and industrial markets. The company offers portable and non-portable audio, and other products. Its products include analog and mixed-signal audio converters, and digital signal processing products for mobile applications; codecs-chips that integrate analog-to-digital converters and digital-to-analog converters into a single IC; smart codecs, a codec with digital signal processer; boosted amplifiers; micro-electromechanical systems microphones; digital interface products; and standalone digital signal processors.

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Analyst Recommendations for Cirrus Logic (NASDAQ:CRUS)

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