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

Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) have been given an average rating of “Moderate Buy” by the seven research firms that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $132.50.

Several research firms recently issued reports on CRUS. StockNews.com raised shares of Cirrus Logic from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Stifel Nicolaus reduced their price target on shares of Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Barclays lowered their price objective on Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating for the company in a report on Tuesday, November 5th. Loop Capital started coverage on Cirrus Logic in a report on Tuesday, November 12th. They set a “buy” rating and a $130.00 target price on the stock. Finally, Susquehanna boosted their price target on Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a report on Monday, November 18th.

Cirrus Logic Stock Performance

NASDAQ:CRUS opened at $99.30 on Tuesday. The stock has a market cap of $5.28 billion, a price-to-earnings ratio of 16.83 and a beta of 0.92. Cirrus Logic has a one year low of $76.58 and a one year high of $147.46. The business’s 50-day simple moving average is $102.56 and its 200 day simple moving average is $116.45.

Cirrus Logic (NASDAQ:CRUS) last announced its earnings results on Monday, November 4th. The semiconductor company reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.23. Cirrus Logic had a return on equity of 18.15% and a net margin of 17.19%. The company had revenue of $541.90 million for the quarter, compared to analyst estimates of $520.53 million. During the same period in the prior year, the company posted $1.43 EPS. Cirrus Logic’s quarterly revenue was up 12.6% on a year-over-year basis. On average, equities research analysts predict that Cirrus Logic will post 5.21 EPS for the current year.

Hedge Funds Weigh In On Cirrus Logic

Institutional investors have recently made changes to their positions in the stock. Huntington National Bank boosted its position in Cirrus Logic by 10,500.0% during the 3rd quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 210 shares during the period. Nisa Investment Advisors LLC lifted its stake in Cirrus Logic by 98.4% in the third quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 120 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Cirrus Logic during the third quarter valued at $31,000. Westside Investment Management Inc. bought a new position in shares of Cirrus Logic during the third quarter worth about $35,000. Finally, Sound Income Strategies LLC acquired a new stake in shares of Cirrus Logic in the 4th quarter worth about $46,000. 87.96% of the stock is owned by institutional investors.

Cirrus Logic Company Profile

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.