StockNews.com Upgrades Cirrus Logic (NASDAQ:CRUS) to “Buy”

Cirrus Logic (NASDAQ:CRUSGet Free Report) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Wednesday.

CRUS has been the subject of several other research reports. Susquehanna reduced their price target on shares of Cirrus Logic from $95.00 to $80.00 and set a “positive” rating for the company in a research report on Tuesday, October 24th. Loop Capital upgraded shares of Cirrus Logic from a “hold” rating to a “buy” rating and increased their price objective for the company from $83.00 to $100.00 in a report on Wednesday, November 1st. Barclays increased their price target on shares of Cirrus Logic from $90.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, January 16th. Finally, KeyCorp dropped their price target on shares of Cirrus Logic from $110.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, November 3rd. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $99.00.

Check Out Our Latest Stock Analysis on CRUS

Cirrus Logic Stock Performance

Shares of NASDAQ CRUS traded down $2.74 during midday trading on Wednesday, hitting $79.96. 204,633 shares of the stock traded hands, compared to its average volume of 313,081. Cirrus Logic has a one year low of $65.02 and a one year high of $111.15. The firm has a 50-day moving average of $79.99 and a two-hundred day moving average of $76.97. The firm has a market capitalization of $4.31 billion, a P/E ratio of 33.35, a PEG ratio of 12.81 and a beta of 0.99.

Cirrus Logic (NASDAQ:CRUSGet Free Report) last posted its quarterly earnings results on Thursday, November 2nd. The semiconductor company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.18. The firm had revenue of $481.06 million during the quarter, compared to the consensus estimate of $457.28 million. Cirrus Logic had a net margin of 7.99% and a return on equity of 15.11%. Equities analysts forecast that Cirrus Logic will post 4.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cirrus Logic

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CRUS. Venturi Wealth Management LLC lifted its holdings in shares of Cirrus Logic by 93.7% during the fourth quarter. Venturi Wealth Management LLC now owns 368 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 178 shares during the period. Covington Capital Management lifted its holdings in shares of Cirrus Logic by 100.0% during the third quarter. Covington Capital Management now owns 400 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 200 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of Cirrus Logic by 71.1% during the third quarter. Nisa Investment Advisors LLC now owns 722 shares of the semiconductor company’s stock worth $53,000 after purchasing an additional 300 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in shares of Cirrus Logic during the third quarter worth $62,000. Finally, NewEdge Advisors LLC lifted its holdings in shares of Cirrus Logic by 1,872.0% during the first quarter. NewEdge Advisors LLC now owns 986 shares of the semiconductor company’s stock worth $108,000 after purchasing an additional 936 shares during the period. 90.18% of the stock is owned by institutional investors and hedge funds.

Cirrus Logic Company Profile

(Get Free Report)

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 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 digital signal processing; boosted amplifiers; 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.

Further Reading

Analyst Recommendations for Cirrus Logic (NASDAQ:CRUS)

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