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

Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) have been assigned a consensus rating of “Moderate Buy” from the seven research firms that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $132.50.

Several equities analysts have commented on CRUS shares. Loop Capital began coverage on shares of Cirrus Logic in a research report on Tuesday, November 12th. They set a “buy” rating and a $130.00 target price on the stock. Susquehanna increased their price objective on Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a report on Monday, November 18th. Barclays reduced their target price 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. Stifel Nicolaus lowered their price target on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Finally, StockNews.com upgraded shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd.

Cirrus Logic Price Performance

Shares of CRUS stock opened at $99.41 on Friday. Cirrus Logic has a fifty-two week low of $75.92 and a fifty-two week high of $147.46. The stock’s 50-day moving average is $105.14 and its two-hundred day moving average is $121.17. The firm has a market cap of $5.28 billion, a P/E ratio of 16.85 and a beta of 0.93.

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

Institutional Trading of Cirrus Logic

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Huntington National Bank lifted its stake in shares of Cirrus Logic by 10,500.0% in the third quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 210 shares during the period. Nisa Investment Advisors LLC lifted its position in shares of Cirrus Logic by 98.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 120 shares during the period. V Square Quantitative Management LLC acquired a new stake in shares of Cirrus Logic during the 3rd quarter worth approximately $31,000. Westside Investment Management Inc. bought a new stake in shares of Cirrus Logic during the third quarter valued at approximately $35,000. Finally, GAMMA Investing LLC raised its stake in shares of Cirrus Logic by 81.2% in the third quarter. GAMMA Investing LLC now owns 859 shares of the semiconductor company’s stock valued at $107,000 after purchasing an additional 385 shares in the last quarter. 87.96% of the stock is currently owned by institutional investors and hedge funds.

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.