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

Cirrus Logic, Inc. (NASDAQ:CRUS) has earned an average recommendation of “Moderate Buy” from the seven brokerages that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $132.50.

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

Hedge Funds Weigh In On Cirrus Logic

Hedge funds have recently made changes to their positions in the business. Stonegate Investment Group LLC lifted its stake in Cirrus Logic by 5.3% in the third 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 during the period. Atria Investments Inc lifted its position in shares of Cirrus Logic by 2.9% in the 3rd quarter. Atria Investments Inc now owns 3,596 shares of the semiconductor company’s stock worth $447,000 after purchasing an additional 101 shares during the period. Profund Advisors LLC boosted its stake in shares of Cirrus Logic by 2.0% during the 2nd quarter. Profund Advisors LLC now owns 5,271 shares of the semiconductor company’s stock valued at $673,000 after purchasing an additional 103 shares in the last quarter. Arkadios Wealth Advisors increased its position in shares of 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 raised 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 worth $30,000 after buying an additional 120 shares in the last quarter. 87.96% of the stock is owned by hedge funds and other institutional investors.

Cirrus Logic Stock Performance

Cirrus Logic stock opened at $104.44 on Monday. Cirrus Logic has a fifty-two week low of $75.92 and a fifty-two week high of $147.46. The stock has a market cap of $5.55 billion, a P/E ratio of 17.70 and a beta of 0.93. The firm’s fifty day moving average price is $112.20 and its 200-day moving average price is $123.18.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results on Monday, November 4th. The semiconductor company reported $2.25 earnings per share 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 business had revenue of $541.90 million for the quarter, compared to the consensus estimate of $520.53 million. During the same quarter last year, the business posted $1.43 earnings per share. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. On average, analysts predict 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.