Cirrus Logic (NASDAQ:CRUS – Get Free Report) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Tuesday.
Other equities analysts have also issued research reports about the company. Barclays upped their price objective on Cirrus Logic from $90.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday. Susquehanna dropped their price target on Cirrus Logic from $95.00 to $80.00 and set a “positive” rating for the company in a research note on Tuesday, October 24th. Loop Capital raised Cirrus Logic from a “hold” rating to a “buy” rating and raised their price objective for the company from $83.00 to $100.00 in a research note on Wednesday, November 1st. Finally, KeyCorp reduced their price target on Cirrus Logic from $110.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, November 3rd. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Cirrus Logic presently has a consensus rating of “Moderate Buy” and an average target price of $99.00.
Cirrus Logic Stock Performance
Shares of CRUS traded down $0.06 on Tuesday, reaching $78.11. The stock had a trading volume of 289,487 shares, compared to its average volume of 305,589. The firm has a market capitalization of $4.21 billion, a price-to-earnings ratio of 31.50, a price-to-earnings-growth ratio of 12.09 and a beta of 0.99. The company has a 50-day simple moving average of $78.89 and a 200-day simple moving average of $76.87. Cirrus Logic has a 12-month low of $65.02 and a 12-month high of $111.15.
Cirrus Logic (NASDAQ:CRUS – Get Free Report) last announced its quarterly earnings data on Thursday, November 2nd. The semiconductor company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.18. The business had revenue of $481.06 million during the quarter, compared to analysts’ expectations of $457.28 million. Cirrus Logic had a return on equity of 15.11% and a net margin of 7.99%. On average, analysts expect that Cirrus Logic will post 4.07 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in CRUS. Pacer Advisors Inc. grew its stake in Cirrus Logic by 76.8% in the 4th quarter. Pacer Advisors Inc. now owns 8,102 shares of the semiconductor company’s stock worth $674,000 after acquiring an additional 3,520 shares during the period. SG Americas Securities LLC purchased a new stake in Cirrus Logic in the 4th quarter worth approximately $173,000. Diversified Trust Co grew its stake in Cirrus Logic by 41.2% in the 4th quarter. Diversified Trust Co now owns 8,596 shares of the semiconductor company’s stock worth $715,000 after acquiring an additional 2,507 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Cirrus Logic by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 6,299,658 shares of the semiconductor company’s stock valued at $465,923,000 after purchasing an additional 105,577 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Cirrus Logic by 30.1% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 39,327 shares of the semiconductor company’s stock valued at $2,908,000 after purchasing an additional 9,105 shares during the last quarter. 90.18% of the stock is owned by hedge funds and other institutional investors.
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 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 processing; boosted amplifiers; 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.