Cirrus Logic (NASDAQ:CRUS) Upgraded at StockNews.com

StockNews.com upgraded shares of Cirrus Logic (NASDAQ:CRUS) from a hold rating to a buy rating in a research note released on Tuesday.

Other equities analysts have also recently issued research reports about the company. KeyCorp boosted their price objective on Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Stifel Nicolaus dropped their target price 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. Loop Capital started 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. Susquehanna increased their target price on shares of Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a research note on Monday, November 18th. Finally, Barclays lowered their price target on Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Cirrus Logic presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.50.

Cirrus Logic Stock Up 0.3 %

CRUS opened at $103.96 on Tuesday. The firm has a market capitalization of $5.52 billion, a P/E ratio of 17.62 and a beta of 0.93. The stock has a fifty day moving average of $112.90 and a 200-day moving average of $123.25. Cirrus Logic has a 12-month low of $75.92 and a 12-month high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last posted its earnings results on Monday, November 4th. The semiconductor company reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.23. The firm had revenue of $541.90 million during the quarter, compared to analysts’ expectations of $520.53 million. Cirrus Logic had a net margin of 17.19% and a return on equity of 18.15%. The company’s revenue was up 12.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.43 earnings per share. On average, analysts expect that Cirrus Logic will post 5.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cirrus Logic

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Stonegate Investment Group LLC boosted its position in shares of Cirrus Logic by 5.3% during the third quarter. Stonegate Investment Group LLC now owns 1,776 shares of the semiconductor company’s stock worth $221,000 after purchasing an additional 90 shares in the last quarter. Atria Investments Inc boosted its stake in shares of Cirrus Logic by 2.9% during the 3rd quarter. Atria Investments Inc now owns 3,596 shares of the semiconductor company’s stock worth $447,000 after acquiring an additional 101 shares during the period. Profund Advisors LLC raised its stake in Cirrus Logic by 2.0% in the 2nd quarter. Profund Advisors LLC now owns 5,271 shares of the semiconductor company’s stock valued at $673,000 after acquiring an additional 103 shares during the period. Arkadios Wealth Advisors lifted its position in Cirrus Logic by 2.8% during the second quarter. Arkadios Wealth Advisors now owns 4,413 shares of the semiconductor company’s stock worth $563,000 after acquiring an additional 119 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in shares of 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 period. Institutional investors own 87.96% of the company’s stock.

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.