Cirrus Logic (NASDAQ:CRUS) Rating Reiterated by Craig Hallum

Cirrus Logic (NASDAQ:CRUS)‘s stock had its “hold” rating reaffirmed by equities research analysts at Craig Hallum in a note issued to investors on Thursday, MarketBeat Ratings reports. They presently have a $42.00 price target on the semiconductor company’s stock, up from their prior price target of $38.00. Craig Hallum’s price target points to a potential downside of 23.84% from the company’s current price.

Other equities analysts have also issued reports about the company. Cowen restated a “market perform” rating and set a $56.00 price target (up from $48.00) on shares of Cirrus Logic in a research note on Thursday. Dougherty & Co reissued a “buy” rating and issued a $62.00 target price (up from $53.00) on shares of Cirrus Logic in a report on Thursday. BidaskClub raised Cirrus Logic from a “hold” rating to a “buy” rating in a report on Tuesday, July 23rd. MKM Partners boosted their price objective on shares of Cirrus Logic to $55.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Finally, Zacks Investment Research upgraded shares of Cirrus Logic from a “hold” rating to a “strong-buy” rating and set a $56.00 price objective for the company in a research report on Wednesday, May 8th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $50.13.

Shares of Cirrus Logic stock traded down $1.93 during trading on Thursday, reaching $55.15. The company’s stock had a trading volume of 1,585,989 shares, compared to its average volume of 549,302. The stock has a fifty day moving average price of $44.59. The company has a market cap of $2.86 billion, a price-to-earnings ratio of 26.90, a price-to-earnings-growth ratio of 2.22 and a beta of 0.94. Cirrus Logic has a one year low of $31.25 and a one year high of $60.00.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.21. The business had revenue of $238.25 million for the quarter, compared to analyst estimates of $221.08 million. Cirrus Logic had a return on equity of 10.91% and a net margin of 8.46%. The firm’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.28 earnings per share. As a group, analysts forecast that Cirrus Logic will post 1.48 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the stock. Investors Research Corp bought a new position in Cirrus Logic in the 1st quarter worth approximately $25,000. Quadrant Capital Group LLC raised its position in shares of Cirrus Logic by 596.7% during the 1st quarter. Quadrant Capital Group LLC now owns 641 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 549 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new stake in shares of Cirrus Logic during the 2nd quarter valued at $33,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Cirrus Logic during the 2nd quarter valued at $44,000. Finally, Advisor Group Inc. raised its position in shares of Cirrus Logic by 71.8% during the 4th quarter. Advisor Group Inc. now owns 2,166 shares of the semiconductor company’s stock valued at $71,000 after acquiring an additional 905 shares during the last quarter. Hedge funds and other institutional investors own 84.62% 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.

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Analyst Recommendations for Cirrus Logic (NASDAQ:CRUS)

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