Cirrus Logic (CRUS) Rating Reiterated by Craig Hallum

Craig Hallum reiterated their buy rating on shares of Cirrus Logic (NASDAQ:CRUS) in a research note published on Tuesday morning, MarketBeat reports. They currently have a $44.00 price objective on the semiconductor company’s stock, down from their prior price objective of $47.00.

Several other equities analysts have also weighed in on the company. BidaskClub lowered Cirrus Logic from a buy rating to a hold rating in a research note on Tuesday. Cowen reaffirmed a market perform rating and issued a $42.00 price objective (down from $44.00) on shares of Cirrus Logic in a research note on Thursday, November 29th. Needham & Company LLC reaffirmed a hold rating on shares of Cirrus Logic in a research note on Wednesday, November 21st. Barclays reduced their price objective on Cirrus Logic from $32.00 to $30.00 and set an underweight rating on the stock in a research note on Friday, November 16th. Finally, Zacks Investment Research lowered Cirrus Logic from a hold rating to a sell rating in a research note on Monday, November 12th. Four research analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $45.88.

NASDAQ CRUS opened at $36.75 on Tuesday. The stock has a market capitalization of $2.27 billion, a PE ratio of 9.96, a PEG ratio of 1.29 and a beta of 0.50. Cirrus Logic has a 1-year low of $34.49 and a 1-year high of $55.13.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings data on Thursday, November 1st. The semiconductor company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.34. The business had revenue of $366.30 million for the quarter, compared to analyst estimates of $330.27 million. Cirrus Logic had a return on equity of 15.55% and a net margin of 7.09%. The company’s revenue was down 13.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.36 EPS. Sell-side analysts anticipate that Cirrus Logic will post 1.96 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in the stock. Great Lakes Advisors LLC purchased a new stake in shares of Cirrus Logic during the 3rd quarter valued at about $9,400,000. Vanguard Group Inc. raised its holdings in shares of Cirrus Logic by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 5,619,593 shares of the semiconductor company’s stock valued at $216,916,000 after buying an additional 24,334 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its holdings in shares of Cirrus Logic by 13.4% during the 3rd quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 240,279 shares of the semiconductor company’s stock valued at $9,275,000 after buying an additional 28,300 shares during the period. AQR Capital Management LLC raised its holdings in shares of Cirrus Logic by 1.9% during the 3rd quarter. AQR Capital Management LLC now owns 2,766,026 shares of the semiconductor company’s stock valued at $106,768,000 after buying an additional 52,377 shares during the period. Finally, Virginia National Bank purchased a new stake in shares of Cirrus Logic during the 3rd quarter valued at about $220,000. Institutional investors and hedge funds own 90.44% of the company’s stock.

About Cirrus Logic

Cirrus Logic, Inc, a fabless semiconductor company, develops, manufactures, and markets analog and mixed-signal integrated circuits (ICs) for a range of consumer and industrial markets. The company offers portable and non-portable audio, and other products. Its products include analog and mixed-signal audio converters, and digital signal processing products for mobile applications; codecs-chips that integrate analog-to-digital converters and digital-to-analog converters into a single IC; smart codecs, a codec with digital signal processer; boosted amplifiers; micro-electromechanical systems microphones; digital interface products; and standalone digital signal processors.

Featured Article: Systematic Risk and Investors

Analyst Recommendations for Cirrus Logic (NASDAQ:CRUS)

Receive News & Ratings for Cirrus Logic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cirrus Logic and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit