Cirrus Logic (NASDAQ:CRUS) had its price objective trimmed by MKM Partners to $45.00 in a research report released on Tuesday, The Fly reports. The brokerage currently has a buy rating on the semiconductor company’s stock.
Other equities research analysts also recently issued reports about the stock. ValuEngine raised shares of Cirrus Logic from a sell rating to a hold rating in a research report on Tuesday, September 4th. Zacks Investment Research raised shares of Cirrus Logic from a hold rating to a buy rating and set a $48.00 target price for the company in a research report on Tuesday, August 7th. BidaskClub downgraded shares of Cirrus Logic from a buy rating to a hold rating in a research report on Tuesday. Bank of America set a $29.00 target price on shares of Cirrus Logic and gave the company a sell rating in a research report on Tuesday. Finally, Needham & Company LLC reissued a hold rating on shares of Cirrus Logic in a research report on Wednesday, November 21st. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $45.88.
Shares of CRUS stock opened at $36.75 on Tuesday. Cirrus Logic has a 52-week low of $34.49 and a 52-week high of $55.13. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of 9.96, a PEG ratio of 1.29 and a beta of 0.50.
Institutional investors have recently added to or reduced their stakes in the company. grace capital bought a new position in shares of Cirrus Logic during the 2nd quarter valued at approximately $115,000. Bank of Montreal Can grew its position in shares of Cirrus Logic by 88.7% during the 3rd quarter. Bank of Montreal Can now owns 3,388 shares of the semiconductor company’s stock valued at $131,000 after acquiring an additional 1,593 shares during the period. First Hawaiian Bank bought a new position in shares of Cirrus Logic during the 3rd quarter valued at approximately $140,000. Itau Unibanco Holding S.A. grew its position in shares of Cirrus Logic by 91.8% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 3,723 shares of the semiconductor company’s stock valued at $143,000 after acquiring an additional 1,782 shares during the period. Finally, Virginia National Bank bought a new position in shares of Cirrus Logic during the 3rd quarter valued at approximately $220,000. 90.44% of the stock is owned by hedge funds and other institutional investors.
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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