Cirrus Logic, Inc. (NASDAQ:CRUS) Receives $131.67 Consensus PT from Brokerages

Cirrus Logic, Inc. (NASDAQ:CRUS) has earned a consensus rating of “Moderate Buy” from the seven research firms that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $131.67.

Several brokerages have weighed in on CRUS. StockNews.com downgraded Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. KeyCorp increased their price target on shares of Cirrus Logic from $155.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Susquehanna cut their price target on shares of Cirrus Logic from $160.00 to $135.00 and set a “positive” rating on the stock in a report on Tuesday, November 5th. 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 for the company. Finally, Barclays cut their target price on Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 5th.

Cirrus Logic Stock Performance

Shares of CRUS opened at $100.67 on Thursday. The firm has a market cap of $5.35 billion, a price-to-earnings ratio of 17.06 and a beta of 0.96. The firm has a 50 day moving average price of $118.87 and a 200-day moving average price of $122.88. Cirrus Logic has a fifty-two week low of $74.80 and a fifty-two week high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings data 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 firm had revenue of $541.90 million for the quarter, compared to analysts’ expectations of $520.53 million. During the same period last year, the firm earned $1.43 earnings per share. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. As a group, equities research analysts predict that Cirrus Logic will post 5.21 earnings per share for the current year.

Hedge Funds Weigh In On Cirrus Logic

Institutional investors have recently bought and sold shares of the stock. Stonegate Investment Group LLC raised its position in shares of Cirrus Logic by 5.3% in the 3rd quarter. Stonegate Investment Group LLC now owns 1,776 shares of the semiconductor company’s stock worth $221,000 after acquiring an additional 90 shares in the last quarter. Atria Investments Inc raised its holdings in Cirrus Logic by 2.9% in the third quarter. Atria Investments Inc now owns 3,596 shares of the semiconductor company’s stock worth $447,000 after purchasing an additional 101 shares in the last quarter. Profund Advisors LLC raised its holdings in Cirrus Logic by 2.0% in the second quarter. Profund Advisors LLC now owns 5,271 shares of the semiconductor company’s stock worth $673,000 after purchasing an additional 103 shares in the last quarter. Arkadios Wealth Advisors lifted its position in Cirrus Logic by 2.8% during the second quarter. Arkadios Wealth Advisors now owns 4,413 shares of the semiconductor company’s stock valued at $563,000 after buying an additional 119 shares during the period. Finally, Nisa Investment Advisors LLC boosted its holdings 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 buying an additional 120 shares in the last quarter. 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.