Cirrus Logic (NASDAQ:CRUS) Now Covered by Analysts at Loop Capital

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

A number of other brokerages also recently weighed in on CRUS. StockNews.com downgraded shares of Cirrus Logic from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Stifel Nicolaus reduced their target price on shares of Cirrus Logic from $165.00 to $140.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Barclays dropped their price target on Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 5th. Susquehanna decreased their target price on Cirrus Logic from $160.00 to $135.00 and set a “positive” rating on the stock in a report on Tuesday, November 5th. Finally, KeyCorp lifted 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. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Cirrus Logic presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.67.

Cirrus Logic Stock Down 0.0 %

Shares of CRUS opened at $104.67 on Tuesday. Cirrus Logic has a 52-week low of $71.60 and a 52-week high of $147.46. The firm has a market capitalization of $5.56 billion, a PE ratio of 17.74 and a beta of 0.96. The firm has a 50-day moving average price of $121.00 and a 200 day moving average price of $122.87.

Cirrus Logic (NASDAQ:CRUS) last announced its earnings results on Monday, November 4th. The semiconductor company reported $2.25 EPS for the quarter, topping 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 firm had revenue of $541.90 million for the quarter, compared to analysts’ expectations of $520.53 million. During the same quarter in the previous year, the company earned $1.43 earnings per share. The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. On average, equities analysts expect that Cirrus Logic will post 5.21 EPS for the current year.

Institutional Investors Weigh In On Cirrus Logic

Institutional investors have recently made changes to their positions in the company. Huntington National Bank increased its holdings in Cirrus Logic by 10,500.0% in the third quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock worth $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% in the third quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 120 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Cirrus Logic during the 3rd quarter worth $31,000. Versant Capital Management Inc raised its holdings in shares of Cirrus Logic by 1,911.1% during the 2nd quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company’s stock valued at $46,000 after purchasing an additional 344 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Cirrus Logic by 79.5% in the 2nd quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company’s stock valued at $61,000 after purchasing an additional 210 shares during the last quarter. 87.96% of the stock is currently owned by institutional investors and hedge funds.

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.