Cowen restated their market perform rating on shares of Cirrus Logic (NASDAQ:CRUS) in a report released on Thursday, Briefing.com Automated Import reports. The firm currently has a $56.00 target price on the semiconductor company’s stock, up from their previous target price of $48.00.
Other research analysts have also recently issued research reports about the company. Zacks Investment Research upgraded 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. ValuEngine upgraded Cirrus Logic from a hold rating to a buy rating in a research report on Tuesday, July 2nd. MKM Partners increased their price objective on Cirrus Logic to $55.00 and gave the stock a buy rating in a research report on Thursday, May 2nd. Finally, BidaskClub upgraded Cirrus Logic from a hold rating to a buy rating in a research report on Tuesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of Buy and a consensus target price of $50.13.
NASDAQ:CRUS traded down $1.93 during trading hours on Thursday, hitting $55.15. The company’s stock had a trading volume of 1,585,989 shares, compared to its average volume of 725,371. The company has a 50-day moving average price of $44.59. The firm has a market capitalization of $3.32 billion, a P/E ratio of 26.90, a PEG ratio of 2.58 and a beta of 0.94. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.30 and a quick ratio of 3.98. Cirrus Logic has a 52-week low of $31.25 and a 52-week high of $60.00.
Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of Cirrus Logic by 3.3% in the first quarter. BlackRock Inc. now owns 7,917,404 shares of the semiconductor company’s stock valued at $333,085,000 after buying an additional 253,505 shares in the last quarter. Norges Bank purchased a new stake in Cirrus Logic during the 4th quarter worth about $33,900,000. Geode Capital Management LLC increased its position in Cirrus Logic by 4.2% during the 4th quarter. Geode Capital Management LLC now owns 814,830 shares of the semiconductor company’s stock worth $27,036,000 after purchasing an additional 32,736 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in Cirrus Logic by 35.8% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 700,863 shares of the semiconductor company’s stock worth $29,485,000 after purchasing an additional 184,619 shares in the last quarter. Finally, Royce & Associates LP increased its position in Cirrus Logic by 48.0% during the 1st quarter. Royce & Associates LP now owns 694,702 shares of the semiconductor company’s stock worth $29,226,000 after purchasing an additional 225,172 shares in the last quarter. Institutional investors and hedge funds own 84.62% 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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