Cirrus Logic (NASDAQ:CRUS) Issues Earnings Results, Misses Estimates By $0.21 EPS

Cirrus Logic (NASDAQ:CRUS) announced its quarterly earnings results on Tuesday. The semiconductor company reported $2.15 EPS for the quarter, missing the consensus estimate of $2.36 by ($0.21), Zacks reports. Cirrus Logic had a net margin of 17.19% and a return on equity of 18.15%.

Cirrus Logic Price Performance

CRUS traded up $2.09 during trading hours on Tuesday, reaching $101.39. 1,152,354 shares of the stock traded hands, compared to its average volume of 692,953. Cirrus Logic has a fifty-two week low of $76.58 and a fifty-two week high of $147.46. The company has a market cap of $5.39 billion, a price-to-earnings ratio of 17.18 and a beta of 0.91. The firm’s fifty day simple moving average is $102.56 and its two-hundred day simple moving average is $116.45.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. StockNews.com upgraded shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Susquehanna lifted their target price on shares of Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a research report on Monday, November 18th. Loop Capital initiated coverage on Cirrus Logic in a report on Tuesday, November 12th. They set a “buy” rating and a $130.00 price objective on the stock. Stifel Nicolaus cut their price target on shares of Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Finally, Barclays lowered their price objective on shares of 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. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Cirrus Logic has an average rating of “Moderate Buy” and an average target price of $132.50.

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.