Brokerages Set Cirrus Logic, Inc. (NASDAQ:CRUS) PT at $131.67

Cirrus Logic, Inc. (NASDAQ:CRUS - Get Free Report) has been given an average rating of "Moderate Buy" by the seven ratings firms that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $131.67.

CRUS has been the subject of several analyst reports. Barclays cut their price objective on shares of 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 cut their price objective on shares of Cirrus Logic from $165.00 to $140.00 and set a "buy" rating for the company in a report on Tuesday, November 5th. KeyCorp raised their price objective on shares of Cirrus Logic from $155.00 to $165.00 and gave the stock an "overweight" rating in a 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 for the company in a report on Tuesday, November 5th. Finally, StockNews.com downgraded shares of Cirrus Logic from a "buy" rating to a "hold" rating in a report on Wednesday, November 6th.

Cirrus Logic Stock Performance

NASDAQ:CRUS traded up $1.11 on Thursday, hitting $101.50. The stock had a trading volume of 775,770 shares, compared to its average volume of 514,750. The firm's fifty day simple moving average is $119.50 and its two-hundred day simple moving average is $122.57. Cirrus Logic has a 1 year low of $74.80 and a 1 year high of $147.46. The stock has a market cap of $5.39 billion, a P/E ratio of 17.20 and a beta of 0.96.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The semiconductor company reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.23. Cirrus Logic had a net margin of 17.19% and a return on equity of 18.15%. The company had revenue of $541.90 million during the quarter, compared to analyst estimates of $520.53 million. During the same quarter last year, the business posted $1.43 EPS. Cirrus Logic's quarterly revenue was up 12.6% compared to the same quarter last year. Equities research analysts predict that Cirrus Logic will post 5.21 EPS for the current year.

Hedge Funds Weigh In On Cirrus Logic

Hedge funds have recently modified their holdings of the company. Huntington National Bank increased its position 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 acquiring an additional 210 shares during the period. Nisa Investment Advisors LLC boosted its stake 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 purchasing an additional 120 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in shares of Cirrus Logic during the 3rd quarter valued at about $31,000. Versant Capital Management Inc boosted its stake in shares of Cirrus Logic by 1,911.1% during the 2nd quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company's stock valued at $46,000 after purchasing an additional 344 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Cirrus Logic by 79.5% during the 2nd quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company's stock valued at $61,000 after purchasing an additional 210 shares in the last quarter. Hedge funds and other institutional investors own 87.96% of the company's stock.

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.