Cirrus Logic, Inc. (NASDAQ:CRUS) Receives Average Recommendation of "Moderate Buy" from Brokerages

Cirrus Logic, Inc. (NASDAQ:CRUS - Get Free Report) has been given an average rating of "Moderate Buy" by the seven research firms that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $132.50.

A number of research firms have commented on CRUS. Barclays decreased their target price on shares of 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. StockNews.com upgraded shares of Cirrus Logic from a "hold" rating to a "buy" rating in a research report on Tuesday, December 3rd. Stifel Nicolaus lowered their target price on shares of Cirrus Logic from $165.00 to $140.00 and set a "buy" rating on the stock in a research note on Tuesday, November 5th. Loop Capital assumed coverage on Cirrus Logic in a report on Tuesday, November 12th. They set a "buy" rating and a $130.00 price target on the stock. Finally, Susquehanna boosted their price objective on Cirrus Logic from $135.00 to $140.00 and gave the company a "positive" rating in a research report on Monday, November 18th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Huntington National Bank boosted its stake in Cirrus Logic by 10,500.0% during 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 last quarter. Nisa Investment Advisors LLC raised 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 worth $30,000 after acquiring an additional 120 shares in the last quarter. V Square Quantitative Management LLC bought a new position in shares of Cirrus Logic during the 3rd quarter valued at approximately $31,000. Westside Investment Management Inc. purchased a new position in shares of Cirrus Logic in the third quarter valued at $35,000. Finally, 1620 Investment Advisors Inc. bought a new stake in Cirrus Logic in the second quarter worth $77,000. Hedge funds and other institutional investors own 87.96% of the company's stock.

Cirrus Logic Stock Performance

Shares of NASDAQ CRUS traded up $0.87 during midday trading on Monday, hitting $105.31. 428,579 shares of the stock traded hands, compared to its average volume of 521,349. Cirrus Logic has a one year low of $75.92 and a one year high of $147.46. The firm has a market capitalization of $5.60 billion, a P/E ratio of 17.70 and a beta of 0.93. The firm has a 50-day moving average of $112.20 and a two-hundred day moving average of $123.18.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last announced its 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 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 analysts' expectations of $520.53 million. During the same period last year, the firm posted $1.43 earnings per share. The business's revenue for the quarter was up 12.6% on a year-over-year basis. Equities analysts forecast that Cirrus Logic will post 5.21 earnings per share for the current fiscal year.

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.