Susquehanna Forecasts Strong Price Appreciation for Cirrus Logic (NASDAQ:CRUS) Stock

Cirrus Logic (NASDAQ:CRUS) had its price objective boosted by equities research analysts at Susquehanna from $135.00 to $140.00 in a report issued on Monday,Benzinga reports. The firm presently has a “positive” rating on the semiconductor company’s stock. Susquehanna’s price target points to a potential upside of 39.07% from the stock’s current price.

CRUS has been the subject of a number of other research reports. Loop Capital started coverage on shares of Cirrus Logic in a research report on Tuesday, November 12th. They issued a “buy” rating and a $130.00 target price for the company. Barclays cut 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 report on Tuesday, November 5th. KeyCorp raised their target price 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. StockNews.com cut Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, Stifel Nicolaus lowered their price objective on 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 assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.50.

Cirrus Logic Stock Down 0.8 %

Shares of CRUS opened at $100.67 on Monday. The company has a 50 day moving average of $118.87 and a 200-day moving average of $123.15. The stock has a market capitalization of $5.35 billion, a P/E ratio of 17.06 and a beta of 0.96. Cirrus Logic has a twelve month low of $74.80 and a twelve month high of $147.46.

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, topping the consensus estimate of $2.02 by $0.23. Cirrus Logic had a net margin of 17.19% and a return on equity of 18.15%. The firm had revenue of $541.90 million for the quarter, compared to analyst estimates of $520.53 million. During the same period in the prior year, the firm posted $1.43 earnings per share. The company’s quarterly revenue was up 12.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Cirrus Logic will post 5.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cirrus Logic

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC bought a new stake in shares of Cirrus Logic during the 1st quarter worth $275,000. State Board of Administration of Florida Retirement System lifted its holdings in shares of Cirrus Logic by 13.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 48,030 shares of the semiconductor company’s stock worth $4,446,000 after acquiring an additional 5,645 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Cirrus Logic by 9.7% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 8,444 shares of the semiconductor company’s stock valued at $776,000 after purchasing an additional 746 shares in the last quarter. Intech Investment Management LLC grew its holdings in shares of Cirrus Logic by 43.4% during the 1st quarter. Intech Investment Management LLC now owns 3,690 shares of the semiconductor company’s stock valued at $342,000 after purchasing an additional 1,116 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Cirrus Logic by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 6,363,188 shares of the semiconductor company’s stock valued at $588,977,000 after purchasing an additional 128,393 shares during the last quarter. 87.96% of the stock is currently owned by institutional investors.

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.