Cirrus Logic (NASDAQ:CRUS) Price Target Raised to $140.00 at Susquehanna

Cirrus Logic (NASDAQ:CRUS - Get Free Report) had its price target boosted by Susquehanna from $135.00 to $140.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a "positive" rating on the semiconductor company's stock. Susquehanna's price objective indicates a potential upside of 38.53% from the stock's current price.

A number of other analysts have also weighed in on the stock. Loop Capital assumed coverage on shares of Cirrus Logic in a research report on Tuesday, November 12th. They issued a "buy" rating and a $130.00 target price on the stock. Barclays decreased their price target 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. StockNews.com downgraded shares of Cirrus Logic from a "buy" rating to a "hold" rating in a research report on Wednesday, November 6th. Stifel Nicolaus reduced their price objective on Cirrus Logic from $165.00 to $140.00 and set a "buy" rating for the company in a research note on Tuesday, November 5th. Finally, KeyCorp upped their target price on Cirrus Logic from $155.00 to $165.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $132.50.

Cirrus Logic Stock Up 0.4 %

Shares of NASDAQ:CRUS traded up $0.39 during trading on Monday, reaching $101.06. 775,793 shares of the company traded hands, compared to its average volume of 517,186. The firm has a market capitalization of $5.37 billion, a PE ratio of 17.06 and a beta of 0.96. Cirrus Logic has a 52 week low of $74.80 and a 52 week high of $147.46. The company's 50 day moving average is $118.87 and its two-hundred day moving average is $123.15.

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

Institutional Investors Weigh In On Cirrus Logic

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRUS. Stonegate Investment Group LLC raised its stake in shares of Cirrus Logic by 5.3% during the 3rd quarter. Stonegate Investment Group LLC now owns 1,776 shares of the semiconductor company's stock worth $221,000 after purchasing an additional 90 shares during the period. Atria Investments Inc raised its position in Cirrus Logic by 2.9% in the third quarter. Atria Investments Inc now owns 3,596 shares of the semiconductor company's stock worth $447,000 after acquiring an additional 101 shares during the period. Profund Advisors LLC boosted its stake in Cirrus Logic by 2.0% in the second quarter. Profund Advisors LLC now owns 5,271 shares of the semiconductor company's stock valued at $673,000 after acquiring an additional 103 shares during the last quarter. Arkadios Wealth Advisors increased its stake in shares of Cirrus Logic by 2.8% during the 2nd quarter. Arkadios Wealth Advisors now owns 4,413 shares of the semiconductor company's stock worth $563,000 after purchasing an additional 119 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings 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 purchasing an additional 120 shares during the period. Hedge funds and other institutional investors own 87.96% of the company's stock.

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.