Craig Hallum Reaffirms Buy Rating for Cirrus Logic (CRUS)
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.
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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