Cirrus Logic (NASDAQ:CRUS) Now Covered by Loop Capital

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

A number of other equities research analysts have also issued reports on CRUS. KeyCorp increased their target price on Cirrus Logic from $155.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. 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 report on Tuesday, November 5th. StockNews.com downgraded shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Susquehanna dropped their price target on shares of Cirrus Logic from $160.00 to $135.00 and set a “positive” rating on the stock in a research note on Tuesday, November 5th. Finally, Stifel Nicolaus cut their price objective on shares of Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.67.

Cirrus Logic Stock Performance

NASDAQ CRUS opened at $104.67 on Tuesday. The firm has a market capitalization of $5.56 billion, a price-to-earnings ratio of 17.74 and a beta of 0.96. Cirrus Logic has a one year low of $71.60 and a one year high of $147.46. The company’s 50 day moving average price is $121.00 and its 200 day moving average price is $122.87.

Cirrus Logic (NASDAQ:CRUS) last issued its earnings results on Monday, November 4th. The semiconductor company reported $2.25 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 business had revenue of $541.90 million for the quarter, compared to the consensus estimate of $520.53 million. During the same quarter last year, the firm posted $1.43 EPS. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. Sell-side analysts forecast that Cirrus Logic will post 5.21 EPS for the current fiscal year.

Institutional Trading of Cirrus Logic

Several institutional investors have recently added to or reduced their stakes in CRUS. Huntington National Bank grew its position in shares of Cirrus Logic by 10,500.0% during the 3rd quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 210 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in Cirrus Logic by 98.4% in the third quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 120 shares during the period. V Square Quantitative Management LLC bought a new position in shares of Cirrus Logic during the third quarter valued at approximately $31,000. Versant Capital Management Inc raised its position in shares of Cirrus Logic by 1,911.1% during the 2nd quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company’s stock worth $46,000 after purchasing an additional 344 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Cirrus Logic by 79.5% in the 2nd quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company’s stock worth $61,000 after purchasing an additional 210 shares during the last quarter. Institutional investors own 87.96% of the company’s stock.

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.