Barclays Issues Positive Forecast for Cirrus Logic (NASDAQ:CRUS) Stock Price

Cirrus Logic (NASDAQ:CRUS) had its price objective hoisted by investment analysts at Barclays from $105.00 to $115.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the semiconductor company’s stock. Barclays‘s target price points to a potential upside of 13.42% from the company’s current price.

Several other equities analysts have also recently issued reports on CRUS. Loop Capital started coverage on Cirrus Logic in a report on Tuesday, November 12th. They set a “buy” rating and a $130.00 price objective for the company. StockNews.com raised shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. Susquehanna raised their target price on shares of Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a report on Monday, November 18th. Finally, Stifel Nicolaus reduced their price target 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. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Cirrus Logic has a consensus rating of “Moderate Buy” and a consensus price target of $134.17.

Cirrus Logic Stock Performance

Cirrus Logic stock opened at $101.39 on Wednesday. The company has a market cap of $5.39 billion, a P/E ratio of 17.18 and a beta of 0.91. Cirrus Logic has a one year low of $76.58 and a one year high of $147.46. The business has a fifty day moving average of $102.43 and a two-hundred day moving average of $116.21.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $2.15 EPS for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.21). Cirrus Logic had a return on equity of 18.15% and a net margin of 17.19%. Sell-side analysts predict that Cirrus Logic will post 5.21 EPS for the current year.

Institutional Investors Weigh In On Cirrus Logic

Hedge funds have recently modified their holdings of the company. Allianz Asset Management GmbH lifted its stake in shares of Cirrus Logic by 137.2% during the fourth quarter. Allianz Asset Management GmbH now owns 1,044,880 shares of the semiconductor company’s stock valued at $104,049,000 after buying an additional 604,431 shares during the period. Pacer Advisors Inc. lifted its stake in shares of Cirrus Logic by 44.0% during the 4th quarter. Pacer Advisors Inc. now owns 1,267,792 shares of the semiconductor company’s stock worth $126,247,000 after purchasing an additional 387,346 shares during the period. FMR LLC boosted its holdings in shares of Cirrus Logic by 6.3% during the third quarter. FMR LLC now owns 3,678,141 shares of the semiconductor company’s stock worth $456,862,000 after purchasing an additional 217,404 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Cirrus Logic by 443.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 218,709 shares of the semiconductor company’s stock valued at $21,742,000 after purchasing an additional 178,469 shares during the period. Finally, Burney Co. increased its stake in Cirrus Logic by 1,205.3% in the fourth quarter. Burney Co. now owns 154,247 shares of the semiconductor company’s stock valued at $15,360,000 after purchasing an additional 142,430 shares during the last quarter. 87.96% of the stock is owned by institutional investors and hedge funds.

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.