Cirrus Logic (NASDAQ:CRUS) Stock Price Expected to Rise, Susquehanna Analyst Says

Cirrus Logic (NASDAQ:CRUS) had its price target raised by Susquehanna from $135.00 to $140.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “positive” rating on the semiconductor company’s stock. Susquehanna’s target price would indicate a potential upside of 39.19% from the company’s current price.

CRUS has been the topic of several other reports. Loop Capital assumed coverage on Cirrus Logic in a report on Tuesday, November 12th. They set a “buy” rating and a $130.00 target price on the stock. Stifel Nicolaus decreased their target price on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Barclays cut their price target on 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. KeyCorp upped their price target on shares of Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Finally, StockNews.com downgraded Cirrus Logic from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.50.

Cirrus Logic Price Performance

CRUS stock opened at $100.58 on Monday. The business has a fifty day moving average price of $117.59 and a 200 day moving average price of $123.34. Cirrus Logic has a fifty-two week low of $74.80 and a fifty-two week high of $147.46. The stock has a market capitalization of $5.34 billion, a price-to-earnings ratio of 17.05 and a beta of 0.96.

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

Hedge Funds Weigh In On Cirrus Logic

Hedge funds have recently modified their holdings of the company. Pacer Advisors Inc. increased its position in shares of Cirrus Logic by 8,183.4% during the second quarter. Pacer Advisors Inc. now owns 665,320 shares of the semiconductor company’s stock valued at $84,935,000 after buying an additional 657,288 shares during the period. LSV Asset Management raised its position in shares of Cirrus Logic by 34.6% during the 2nd quarter. LSV Asset Management now owns 1,890,493 shares of the semiconductor company’s stock valued at $241,340,000 after purchasing an additional 486,086 shares during the period. FMR LLC increased its holdings in Cirrus Logic by 6.3% in the 3rd quarter. FMR LLC now owns 3,678,141 shares of the semiconductor company’s stock valued at $456,862,000 after acquiring an additional 217,404 shares during the last quarter. DNB Asset Management AS bought a new stake in shares of Cirrus Logic in the 2nd quarter worth about $23,250,000. Finally, Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of Cirrus Logic in the 3rd quarter worth about $16,340,000. Hedge funds and other institutional investors 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.