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

Cirrus Logic (NASDAQ:CRUS) had its price target raised by Susquehanna from $135.00 to $140.00 in a research report sent to investors on Monday,Benzinga reports. Susquehanna currently has a positive rating on the semiconductor company’s stock.

CRUS has been the subject of several other reports. Barclays lowered their target price 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. Loop Capital assumed coverage on Cirrus Logic in a research report on Tuesday, November 12th. They set a “buy” rating and a $130.00 price objective for the company. StockNews.com cut shares of Cirrus Logic from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. KeyCorp lifted their price target 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. Finally, Stifel Nicolaus dropped their price objective on shares of Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $132.50.

Cirrus Logic Price Performance

Shares of NASDAQ:CRUS opened at $101.06 on Monday. The firm’s 50-day moving average is $118.20 and its two-hundred day moving average is $123.26. Cirrus Logic has a 1 year low of $74.80 and a 1 year high of $147.46. The firm has a market capitalization of $5.37 billion, a PE ratio of 17.13 and a beta of 0.96.

Cirrus Logic (NASDAQ:CRUS) last announced 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. Cirrus Logic had a net margin of 17.19% and a return on equity of 18.15%. The firm had revenue of $541.90 million for the quarter, compared to the consensus estimate of $520.53 million. During the same period in the prior year, the firm earned $1.43 EPS. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. Analysts expect that Cirrus Logic will post 5.21 EPS for the current fiscal year.

Hedge Funds Weigh In On Cirrus Logic

Several hedge funds have recently added to or reduced their stakes in CRUS. Huntington National Bank lifted its position in shares of Cirrus Logic by 10,500.0% during the 3rd 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 lifted 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 valued at $30,000 after acquiring an additional 120 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in Cirrus Logic in the third quarter valued at $31,000. Versant Capital Management Inc grew its holdings in shares of Cirrus Logic by 1,911.1% during the second quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company’s stock worth $46,000 after purchasing an additional 344 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Cirrus Logic by 79.5% during the second quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company’s stock worth $61,000 after purchasing an additional 210 shares in the last quarter. 87.96% of the stock is currently owned by hedge funds and other 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.