Cirrus Logic (NASDAQ:CRUS) PT Raised to $110.00

Cirrus Logic (NASDAQ:CRUSGet Rating) had its target price upped by stock analysts at KeyCorp from $100.00 to $110.00 in a research note issued to investors on Wednesday, The Fly reports. The brokerage presently has an “overweight” rating on the semiconductor company’s stock. KeyCorp’s price objective suggests a potential upside of 30.53% from the stock’s current price. KeyCorp also issued estimates for Cirrus Logic’s FY2024 earnings at $5.92 EPS.

Several other research firms have also issued reports on CRUS. Barclays dropped their price objective on Cirrus Logic from $90.00 to $85.00 and set an “overweight” rating for the company in a research note on Thursday, November 17th. StockNews.com upgraded Cirrus Logic from a “hold” rating to a “buy” rating in a research note on Thursday, January 5th. Benchmark dropped their price objective on Cirrus Logic from $95.00 to $86.00 in a research note on Wednesday, November 2nd. Finally, Needham & Company LLC raised their target price on Cirrus Logic from $73.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, November 2nd. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $97.33.

Cirrus Logic Price Performance

Shares of CRUS stock opened at $84.27 on Wednesday. The stock has a market cap of $4.64 billion, a P/E ratio of 14.02, a price-to-earnings-growth ratio of 4.64 and a beta of 0.96. Cirrus Logic has a one year low of $61.94 and a one year high of $95.44. The stock has a fifty day moving average price of $75.35 and a 200 day moving average price of $75.35.

Cirrus Logic (NASDAQ:CRUSGet Rating) last issued its earnings results on Tuesday, November 1st. The semiconductor company reported $1.69 EPS for the quarter, topping the consensus estimate of $1.24 by $0.45. The firm had revenue of $540.57 million during the quarter, compared to analysts’ expectations of $470.66 million. Cirrus Logic had a return on equity of 23.97% and a net margin of 17.79%. Equities research analysts anticipate that Cirrus Logic will post 4.92 EPS for the current year.

Institutional Trading of Cirrus Logic

Hedge funds and other institutional investors have recently made changes to their positions in the business. Inspire Investing LLC increased its position in Cirrus Logic by 3.9% in the second quarter. Inspire Investing LLC now owns 3,496 shares of the semiconductor company’s stock worth $254,000 after purchasing an additional 132 shares during the period. Victory Capital Management Inc. increased its position in Cirrus Logic by 1.1% in the third quarter. Victory Capital Management Inc. now owns 12,416 shares of the semiconductor company’s stock worth $854,000 after purchasing an additional 138 shares during the period. Parallel Advisors LLC increased its position in Cirrus Logic by 50.0% in the second quarter. Parallel Advisors LLC now owns 459 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 153 shares during the period. Securian Asset Management Inc. increased its position in Cirrus Logic by 3.1% in the second quarter. Securian Asset Management Inc. now owns 5,222 shares of the semiconductor company’s stock worth $379,000 after purchasing an additional 157 shares during the period. Finally, MML Investors Services LLC increased its position in Cirrus Logic by 4.9% in the third quarter. MML Investors Services LLC now owns 3,366 shares of the semiconductor company’s stock worth $232,000 after purchasing an additional 158 shares during the period. 91.78% of the stock is currently owned by institutional investors and hedge funds.

Cirrus Logic Company Profile

(Get Rating)

Cirrus Logic, Inc, a fabless semiconductor company, provides low-power and high-precision mixed-signal processing solutions in the United States and internationally. It offers portable 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 processer; boosted amplifiers; 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, hearing augmentation, and active noise cancellation.

Read More

The Fly logo

Receive News & Ratings for Cirrus Logic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cirrus Logic and related companies with MarketBeat.com's FREE daily email newsletter.