Cirrus Logic, Inc. (NASDAQ:CRUS) Receives $132.50 Consensus Target Price from Analysts

Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) have received an average rating of “Moderate Buy” from the seven ratings firms that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $132.50.

Several equities analysts recently weighed in on CRUS shares. Barclays dropped their price objective on Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 5th. Susquehanna lifted their price target on Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a research note on Monday, November 18th. StockNews.com raised shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. Stifel Nicolaus cut their target price on shares of Cirrus Logic from $165.00 to $140.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Finally, Loop Capital began coverage on shares of Cirrus Logic in a research report on Tuesday, November 12th. They issued a “buy” rating and a $130.00 price target on the stock.

Cirrus Logic Stock Down 1.1 %

NASDAQ:CRUS opened at $99.30 on Tuesday. The firm’s fifty day simple moving average is $102.56 and its 200-day simple moving average is $116.45. The stock has a market cap of $5.28 billion, a PE ratio of 16.83 and a beta of 0.92. Cirrus Logic has a fifty-two week low of $76.58 and a fifty-two week high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last issued its earnings results 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 company had revenue of $541.90 million for the quarter, compared to analyst estimates of $520.53 million. Cirrus Logic had a net margin of 17.19% and a return on equity of 18.15%. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.43 earnings per share. Equities analysts anticipate that Cirrus Logic will post 5.21 earnings per share for the current year.

Institutional Trading of Cirrus Logic

Hedge funds have recently bought and sold shares of the company. Stonegate Investment Group LLC lifted 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 lifted its position in Cirrus Logic by 2.9% during the third quarter. Atria Investments Inc now owns 3,596 shares of the semiconductor company’s stock worth $447,000 after buying an additional 101 shares during the period. Nisa Investment Advisors LLC boosted its stake in 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 buying an additional 120 shares during the last quarter. Captrust Financial Advisors grew its holdings in Cirrus Logic by 5.3% in the 3rd quarter. Captrust Financial Advisors now owns 2,838 shares of the semiconductor company’s stock valued at $353,000 after buying an additional 142 shares during the period. Finally, Ritholtz Wealth Management increased its stake in shares of Cirrus Logic by 4.1% during the 4th quarter. Ritholtz Wealth Management now owns 3,925 shares of the semiconductor company’s stock valued at $391,000 after acquiring an additional 153 shares during the last quarter. Institutional investors and hedge funds 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.