Susquehanna Issues Positive Forecast for Cirrus Logic (NASDAQ:CRUS) Stock Price

Cirrus Logic (NASDAQ:CRUS) had its price target boosted by stock analysts at Susquehanna from $135.00 to $140.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “positive” rating on the semiconductor company’s stock. Susquehanna’s target price would indicate a potential upside of 39.07% from the stock’s current price.

CRUS has been the subject of a number of other research reports. KeyCorp increased their target price on shares of Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Barclays cut their target price on shares of 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. StockNews.com lowered Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Loop Capital initiated coverage on Cirrus Logic in a report on Tuesday, November 12th. They set a “buy” rating and a $130.00 price target for the company. Finally, Stifel Nicolaus reduced 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 issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $132.50.

Cirrus Logic Stock Performance

Shares of Cirrus Logic stock opened at $100.67 on Monday. Cirrus Logic has a twelve month low of $74.80 and a twelve month high of $147.46. The firm has a market cap of $5.35 billion, a P/E ratio of 17.06 and a beta of 0.96. The firm’s 50-day simple moving average is $118.87 and its 200-day simple moving average is $123.15.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings results on Monday, November 4th. The semiconductor company reported $2.25 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 for the quarter, compared to analyst estimates of $520.53 million. During the same quarter in the previous year, the firm earned $1.43 EPS. Cirrus Logic’s quarterly revenue was up 12.6% on a year-over-year basis. On average, equities analysts forecast that Cirrus Logic will post 5.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cirrus Logic

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Cirrus Logic by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 6,363,188 shares of the semiconductor company’s stock worth $588,977,000 after buying an additional 128,393 shares during the period. FMR LLC grew its holdings in Cirrus Logic by 6.3% during the third 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 period. LSV Asset Management increased its stake in Cirrus Logic by 34.6% in the second quarter. LSV Asset Management now owns 1,890,493 shares of the semiconductor company’s stock valued at $241,340,000 after purchasing an additional 486,086 shares in the last quarter. Earnest Partners LLC increased its stake in Cirrus Logic by 3.0% in the second quarter. Earnest Partners LLC now owns 1,358,140 shares of the semiconductor company’s stock valued at $173,380,000 after purchasing an additional 39,759 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Cirrus Logic by 4.7% in the third quarter. Geode Capital Management LLC now owns 1,138,279 shares of the semiconductor company’s stock worth $141,414,000 after purchasing an additional 50,582 shares during the period. Institutional investors and hedge funds 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.