Loop Capital Begins Coverage on Cirrus Logic (NASDAQ:CRUS)

Analysts at Loop Capital started coverage on shares of Cirrus Logic (NASDAQ:CRUS - Get Free Report) in a research report issued to clients and investors on Tuesday. The firm set a "buy" rating and a $130.00 price target on the semiconductor company's stock. Loop Capital's target price points to a potential upside of 24.20% from the stock's previous close.

Several other brokerages have also recently weighed in on CRUS. Stifel Nicolaus reduced their price target 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. StockNews.com downgraded shares of Cirrus Logic from a "buy" rating to a "hold" rating in a research report on Wednesday, November 6th. Susquehanna lowered their price target on shares of Cirrus Logic from $160.00 to $135.00 and set a "positive" rating for the company in a research report on Tuesday, November 5th. Barclays decreased their price objective 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. Finally, KeyCorp upped their price objective on Cirrus Logic from $155.00 to $165.00 and gave the company an "overweight" rating in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Cirrus Logic has a consensus rating of "Moderate Buy" and an average price target of $131.67.

Cirrus Logic Price Performance

CRUS traded down $0.04 during midday trading on Tuesday, reaching $104.67. 740,008 shares of the company's stock traded hands, compared to its average volume of 510,738. The firm has a fifty day moving average of $121.65 and a two-hundred day moving average of $122.76. The stock has a market capitalization of $5.56 billion, a price-to-earnings ratio of 17.75 and a beta of 0.96. Cirrus Logic has a 52 week low of $71.60 and a 52 week high of $147.46.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last released its quarterly earnings data 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 in the prior year, the business earned $1.43 earnings per share. The business's quarterly revenue was up 12.6% compared to the same quarter last year. Sell-side analysts forecast that Cirrus Logic will post 5.21 EPS for the current year.

Insider Transactions at Cirrus Logic

In other news, VP Andrew Brannan sold 4,350 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $136.04, for a total value of $591,774.00. Following the completion of the sale, the vice president now owns 4,004 shares of the company's stock, valued at $544,704.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 1.02% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Huntington National Bank boosted its position 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 period. Nisa Investment Advisors LLC boosted its stake in Cirrus Logic by 98.4% during 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 during the period. V Square Quantitative Management LLC acquired a new stake in Cirrus Logic in the 3rd quarter valued at about $31,000. Versant Capital Management Inc raised its stake in shares of Cirrus Logic by 1,911.1% during the second 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 raised its position in Cirrus Logic by 79.5% in the second quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company's stock worth $61,000 after acquiring an additional 210 shares in the last quarter. 87.96% of the stock is owned by institutional investors and hedge funds.

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.