Cirrus Logic (NASDAQ:CRUS) Coverage Initiated by Analysts at Loop Capital

Loop Capital started coverage on shares of Cirrus Logic (NASDAQ:CRUS) in a research report released on Tuesday. The brokerage issued a buy rating and a $130.00 price target on the semiconductor company’s stock.

CRUS has been the subject of several other reports. StockNews.com downgraded Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Barclays decreased 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. KeyCorp upped their target price on shares of Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Susquehanna decreased 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 note on Tuesday, November 5th. Finally, Stifel Nicolaus dropped their price objective 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. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Cirrus Logic presently has an average rating of “Moderate Buy” and a consensus target price of $131.67.

Cirrus Logic Trading Down 0.8 %

CRUS stock opened at $100.67 on Tuesday. The stock has a market cap of $5.35 billion, a PE ratio of 17.06 and a beta of 0.96. Cirrus Logic has a 12 month low of $74.80 and a 12 month high of $147.46. The company has a 50-day moving average price of $118.87 and a 200 day moving average price of $122.64.

Cirrus Logic (NASDAQ:CRUS) last announced its earnings results on Monday, November 4th. The semiconductor company reported $2.25 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $520.53 million. During the same quarter in the previous year, the business earned $1.43 earnings per share. The company’s revenue for the quarter 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.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Pacer Advisors Inc. grew its position in shares of Cirrus Logic by 8,183.4% in the 2nd quarter. Pacer Advisors Inc. now owns 665,320 shares of the semiconductor company’s stock worth $84,935,000 after buying an additional 657,288 shares during the last quarter. LSV Asset Management increased its position in shares of Cirrus Logic by 34.6% during the second quarter. LSV Asset Management now owns 1,890,493 shares of the semiconductor company’s stock worth $241,340,000 after purchasing an additional 486,086 shares in the last quarter. FMR LLC lifted its holdings in shares of Cirrus Logic by 6.3% during the 3rd quarter. FMR LLC now owns 3,678,141 shares of the semiconductor company’s stock valued at $456,862,000 after purchasing an additional 217,404 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of Cirrus Logic by 68.6% in the 1st quarter. Acadian Asset Management LLC now owns 460,681 shares of the semiconductor company’s stock worth $42,619,000 after purchasing an additional 187,438 shares in the last quarter. Finally, DNB Asset Management AS purchased a new position in Cirrus Logic during the 2nd quarter worth $23,250,000. 87.96% of the stock is owned by institutional investors.

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.