Craig Hallum reissued their buy rating on shares of Cirrus Logic (NASDAQ:CRUS) in a research note issued to investors on Tuesday, Marketbeat reports. Craig Hallum currently has a $44.00 target price on the semiconductor company’s stock, down from their prior target price of $47.00.

CRUS has been the topic of several other reports. ValuEngine cut Cirrus Logic from a hold rating to a sell rating in a research report on Wednesday, September 12th. BidaskClub upgraded Cirrus Logic from a hold rating to a buy rating in a research report on Friday, November 16th. Barclays lowered their target price on Cirrus Logic from $32.00 to $30.00 and set an underweight rating on the stock in a research report on Friday, November 16th. Zacks Investment Research upgraded Cirrus Logic from a hold rating to a buy rating and set a $48.00 target price on the stock in a research report on Tuesday, August 7th. Finally, Cowen restated a market perform rating and issued a $42.00 target price (down from $44.00) on shares of Cirrus Logic in a research report on Thursday, November 29th. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $45.88.

CRUS opened at $37.98 on Tuesday. Cirrus Logic has a 12 month low of $34.49 and a 12 month high of $55.13. The company has a market capitalization of $2.27 billion, a P/E ratio of 10.29, a price-to-earnings-growth ratio of 1.21 and a beta of 0.50.

Cirrus Logic (NASDAQ:CRUS) last posted its earnings results on Thursday, November 1st. The semiconductor company reported $1.08 EPS for the quarter, beating the consensus estimate of $0.74 by $0.34. Cirrus Logic had a return on equity of 15.55% and a net margin of 7.09%. The firm had revenue of $366.30 million for the quarter, compared to analysts’ expectations of $330.27 million. During the same period last year, the firm earned $1.36 EPS. The firm’s revenue was down 13.9% compared to the same quarter last year. Equities analysts anticipate that Cirrus Logic will post 2.08 earnings per share for the current year.

Several hedge funds have recently modified their holdings of CRUS. grace capital acquired a new position in shares of Cirrus Logic during the 2nd quarter valued at $115,000. Bank of Montreal Can increased its position in shares of Cirrus Logic by 88.7% during the 3rd 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 during the period. First Hawaiian Bank acquired a new position in shares of Cirrus Logic during the 3rd quarter valued at $140,000. Itau Unibanco Holding S.A. increased its position in shares of Cirrus Logic by 91.8% during the 2nd 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 during the period. Finally, Virginia National Bank acquired a new position in shares of Cirrus Logic during the 3rd 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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Analyst Recommendations for Cirrus Logic (NASDAQ:CRUS)

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