Analysts Set Cirrus Logic, Inc. (NASDAQ:CRUS) Target Price at $132.50

Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) have received a consensus rating of “Moderate Buy” from the seven research firms that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $132.50.

Several analysts have commented on the stock. Susquehanna increased their price target on shares of Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a research report on Monday, November 18th. Barclays decreased 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 report on Tuesday, November 5th. Stifel Nicolaus cut their price target on shares of Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. StockNews.com raised Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Finally, Loop Capital began coverage on Cirrus Logic in a research report on Tuesday, November 12th. They issued a “buy” rating and a $130.00 price objective for the company.

Institutional Trading of Cirrus Logic

Several large investors have recently added to or reduced their stakes in the company. Huntington National Bank boosted its position in Cirrus Logic by 10,500.0% in 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 last quarter. Nisa Investment Advisors LLC grew its position in Cirrus Logic by 98.4% during 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. V Square Quantitative Management LLC purchased a new position in shares of Cirrus Logic during the 3rd quarter valued at about $31,000. Westside Investment Management Inc. acquired a new position in shares of Cirrus Logic in the 3rd quarter valued at about $35,000. Finally, 1620 Investment Advisors Inc. acquired a new position in shares of Cirrus Logic in the 2nd quarter valued at about $77,000. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Cirrus Logic Stock Performance

NASDAQ:CRUS opened at $106.71 on Monday. The firm has a 50-day simple moving average of $110.76 and a 200-day simple moving average of $122.77. Cirrus Logic has a one year low of $75.92 and a one year high of $147.46. The firm has a market cap of $5.67 billion, a P/E ratio of 18.09 and a beta of 0.93.

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. The business had revenue of $541.90 million for the quarter, compared to analysts’ expectations of $520.53 million. Cirrus Logic had a return on equity of 18.15% and a net margin of 17.19%. The business’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.43 EPS. On average, research analysts predict that Cirrus Logic will post 5.21 EPS for the current fiscal year.

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.