ValuEngine upgraded shares of Cirrus Logic (NASDAQ:CRUS) from a hold rating to a buy rating in a report issued on Wednesday morning.
A number of other research firms also recently issued reports on CRUS. Bank of America set a $29.00 price target on Cirrus Logic and gave the stock a sell rating in a research note on Tuesday. BidaskClub downgraded Cirrus Logic from a hold rating to a sell rating in a research note on Tuesday, September 18th. Needham & Company LLC restated a hold rating on shares of Cirrus Logic in a research note on Wednesday, November 21st. TheStreet upgraded Cirrus Logic from a c+ rating to a b- rating in a research note on Thursday, November 8th. Finally, Zacks Investment Research downgraded Cirrus Logic from a hold rating to a sell rating in a research note on Monday, November 12th. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $45.88.
CRUS stock opened at $36.75 on Wednesday. The firm 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 results on Thursday, November 1st. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.34. The firm had revenue of $366.30 million for the quarter, compared to the consensus estimate 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 for the quarter was down 13.9% on a year-over-year basis. During the same period last year, the business posted $1.36 EPS. As a group, research analysts predict that Cirrus Logic will post 1.96 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRUS. grace capital purchased a new position in Cirrus Logic during the second quarter valued at $115,000. Bank of Montreal Can lifted its position in Cirrus Logic by 88.7% during the third quarter. Bank of Montreal Can now owns 3,388 shares of the semiconductor company’s stock valued at $131,000 after purchasing an additional 1,593 shares in the last quarter. First Hawaiian Bank purchased a new position in Cirrus Logic during the third quarter valued at $140,000. Itau Unibanco Holding S.A. lifted its position in Cirrus Logic by 91.8% during the second quarter. Itau Unibanco Holding S.A. now owns 3,723 shares of the semiconductor company’s stock valued at $143,000 after purchasing an additional 1,782 shares in the last quarter. Finally, Virginia National Bank purchased a new position in Cirrus Logic during the third quarter valued at $220,000. Institutional investors own 90.44% of the company’s stock.
Cirrus Logic Company Profile
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.
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