Cirrus Logic (NASDAQ:CRUS) Earns Buy Rating from Analysts at Loop Capital

Loop Capital assumed coverage on shares of Cirrus Logic (NASDAQ:CRUS) in a research report sent to investors on Tuesday morning. The brokerage issued a buy rating and a $130.00 price objective on the semiconductor company’s stock.

Several other equities analysts have also weighed in on the stock. StockNews.com lowered shares of Cirrus Logic from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Barclays decreased their target price on Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 5th. KeyCorp lifted their price target on shares of Cirrus Logic from $155.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Susquehanna dropped their target price on Cirrus Logic from $160.00 to $135.00 and set a “positive” rating on the stock in a research report on Tuesday, November 5th. Finally, Stifel Nicolaus dropped 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. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $131.67.

Cirrus Logic Stock Up 1.1 %

Shares of NASDAQ:CRUS opened at $101.50 on Tuesday. The company has a market cap of $5.39 billion, a price-to-earnings ratio of 17.20 and a beta of 0.96. Cirrus Logic has a fifty-two week low of $74.80 and a fifty-two week high of $147.46. The firm’s 50-day simple moving average is $119.50 and its 200-day simple moving average is $122.57.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly 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. Cirrus Logic had a net margin of 17.19% and a return on equity of 18.15%. The company had revenue of $541.90 million during the quarter, compared to the consensus estimate of $520.53 million. During the same period last year, the firm earned $1.43 EPS. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. On average, research analysts forecast that Cirrus Logic will post 5.21 EPS for the current year.

Hedge Funds Weigh In On Cirrus Logic

Hedge funds have recently made changes to their positions in the business. Huntington National Bank boosted its holdings in shares of Cirrus Logic by 10,500.0% in the 3rd quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 210 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Cirrus Logic by 98.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 120 shares during the period. V Square Quantitative Management LLC bought a new stake in shares of Cirrus Logic during the third quarter worth $31,000. Versant Capital Management Inc boosted its holdings in Cirrus Logic by 1,911.1% in the second quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company’s stock valued at $46,000 after acquiring an additional 344 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Cirrus Logic by 79.5% in the second quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company’s stock valued at $61,000 after acquiring an additional 210 shares during the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

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.