Cirrus Logic (NASDAQ:CRUS) Rating Increased to Buy at StockNews.com

Cirrus Logic (NASDAQ:CRUS) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Tuesday.

Several other research analysts have also issued reports on CRUS. Stifel Nicolaus lowered their price target 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. Susquehanna raised their target price on Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a research note on Monday, November 18th. Loop Capital assumed coverage on shares of Cirrus Logic in a report on Tuesday, November 12th. They set a “buy” rating and a $130.00 price objective on the stock. KeyCorp raised their target price on Cirrus Logic from $155.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Finally, Barclays cut their price objective on shares of Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $132.50.

Cirrus Logic Price Performance

Shares of NASDAQ CRUS traded down $2.24 during mid-day trading on Tuesday, hitting $105.60. 852,757 shares of the stock traded hands, compared to its average volume of 520,727. The company has a market cap of $5.61 billion, a PE ratio of 17.90 and a beta of 0.93. Cirrus Logic has a twelve month low of $75.57 and a twelve month high of $147.46. The firm has a 50 day simple moving average of $113.57 and a two-hundred day simple moving average of $123.42.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings data 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. Cirrus Logic had a return on equity of 18.15% and a net margin of 17.19%. The company had revenue of $541.90 million during the quarter, compared to the consensus estimate of $520.53 million. During the same quarter in the prior year, the firm posted $1.43 earnings per share. The firm’s revenue was up 12.6% compared to the same quarter last year. On average, equities research analysts anticipate that Cirrus Logic will post 5.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cirrus Logic

Several institutional investors and hedge funds have recently bought and sold shares of CRUS. FMR LLC lifted its stake in shares of Cirrus Logic by 6.3% during the 3rd quarter. FMR LLC now owns 3,678,141 shares of the semiconductor company’s stock valued at $456,862,000 after buying an additional 217,404 shares in the last quarter. LSV Asset Management lifted its position in Cirrus Logic by 34.6% during 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 during the last quarter. Earnest Partners LLC lifted its holdings in shares of Cirrus Logic by 3.0% during the 2nd quarter. Earnest Partners LLC now owns 1,358,140 shares of the semiconductor company’s stock worth $173,380,000 after acquiring an additional 39,759 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Cirrus Logic by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,138,279 shares of the semiconductor company’s stock valued at $141,414,000 after purchasing an additional 50,582 shares in the last quarter. Finally, Pacer Advisors Inc. grew its position in Cirrus Logic by 32.3% during the 3rd quarter. Pacer Advisors Inc. now owns 880,446 shares of the semiconductor company’s stock worth $109,360,000 after acquiring an additional 215,126 shares during the last quarter. 87.96% of the stock is owned by 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.