Craig Hallum Reiterates “Buy” Rating for Cirrus Logic (CRUS)
Cirrus Logic (NASDAQ:CRUS)‘s stock had its “buy” rating reissued by equities researchers at Craig Hallum in a research note issued to investors on Tuesday, Marketbeat.com reports. They presently have a $44.00 price target on the semiconductor company’s stock, down from their prior price target of $47.00. Craig Hallum’s price objective would suggest a potential upside of 15.94% from the company’s current price.
Several other equities research analysts have also commented on CRUS. Zacks Investment Research upgraded shares of Cirrus Logic from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research note on Tuesday, August 7th. BidaskClub upgraded shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research note on Wednesday, August 29th. ValuEngine upgraded shares of Cirrus Logic from a “sell” rating to a “hold” rating in a research note on Tuesday, September 4th. Finally, TheStreet upgraded shares of Cirrus Logic from a “c+” rating to a “b-” rating in a research note on Thursday, November 8th. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $45.88.
Shares of NASDAQ:CRUS opened at $37.95 on Tuesday. Cirrus Logic has a 52 week low of $34.49 and a 52 week high of $55.13. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of 10.28, a PEG ratio of 1.11 and a beta of 0.50.
Several large investors have recently made changes to their positions in CRUS. BlackRock Inc. increased its stake in shares of Cirrus Logic by 7.8% during the second quarter. BlackRock Inc. now owns 8,486,370 shares of the semiconductor company’s stock valued at $325,283,000 after acquiring an additional 610,960 shares during the period. Vanguard Group Inc. increased its stake in shares of Cirrus Logic by 0.4% during the third quarter. Vanguard Group Inc. now owns 5,619,593 shares of the semiconductor company’s stock valued at $216,916,000 after acquiring an additional 24,334 shares during the period. LSV Asset Management increased its stake in shares of Cirrus Logic by 1.9% during the third quarter. LSV Asset Management now owns 3,285,586 shares of the semiconductor company’s stock valued at $126,823,000 after acquiring an additional 59,700 shares during the period. AQR Capital Management LLC increased its stake in shares of Cirrus Logic by 1.9% during the third quarter. AQR Capital Management LLC now owns 2,766,026 shares of the semiconductor company’s stock valued at $106,768,000 after acquiring an additional 52,377 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Cirrus Logic by 6.8% during the third quarter. Dimensional Fund Advisors LP now owns 2,272,031 shares of the semiconductor company’s stock valued at $87,699,000 after acquiring an additional 144,179 shares during the period. Institutional investors own 90.44% 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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