Susquehanna Boosts Cirrus Logic (NASDAQ:CRUS) Price Target to $140.00

Cirrus Logic (NASDAQ:CRUS) had its price objective raised by Susquehanna from $135.00 to $140.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a positive rating on the semiconductor company’s stock.

Other equities analysts have also issued research reports about the company. KeyCorp raised their price target on Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Barclays lowered their price target on Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 5th. Stifel Nicolaus lowered their price target on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. StockNews.com lowered Cirrus Logic from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, Loop Capital began coverage on Cirrus Logic in a report on Tuesday, November 12th. They set a “buy” rating and a $130.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $132.50.

Cirrus Logic Price Performance

Shares of NASDAQ:CRUS opened at $101.06 on Monday. Cirrus Logic has a 1-year low of $74.80 and a 1-year high of $147.46. The stock has a market cap of $5.37 billion, a P/E ratio of 17.13 and a beta of 0.96. The firm has a fifty day moving average price of $118.20 and a 200 day moving average price of $123.26.

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

Institutional Investors Weigh In On Cirrus Logic

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