KeyCorp Lowers Cirrus Logic (NASDAQ:CRUS) Price Target to $100.00

Cirrus Logic (NASDAQ:CRUSGet Rating) had its price target cut by equities researchers at KeyCorp from $105.00 to $100.00 in a research note issued to investors on Friday, Stock Target Advisor reports. The brokerage presently has an “overweight” rating on the semiconductor company’s stock. KeyCorp’s price objective would suggest a potential upside of 28.70% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. started coverage on shares of Cirrus Logic in a research note on Wednesday, October 12th. They set a “buy” rating on the stock. Benchmark lowered their target price on Cirrus Logic from $95.00 to $86.00 in a research note on Wednesday, November 2nd. Barclays dropped their target price on Cirrus Logic from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Thursday, November 17th. Finally, Needham & Company LLC raised their price target on Cirrus Logic from $73.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, November 2nd. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.22.

Cirrus Logic Stock Performance

Shares of CRUS opened at $77.70 on Friday. The company has a market cap of $4.28 billion, a price-to-earnings ratio of 12.93, a PEG ratio of 4.31 and a beta of 0.98. The stock has a fifty day moving average price of $70.70 and a two-hundred day moving average price of $75.40. Cirrus Logic has a 52-week low of $61.94 and a 52-week high of $95.84.

Cirrus Logic (NASDAQ:CRUSGet Rating) last released its quarterly earnings results on Tuesday, November 1st. The semiconductor company reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.45. The business had revenue of $540.57 million during the quarter, compared to analysts’ expectations of $470.66 million. Cirrus Logic had a return on equity of 23.97% and a net margin of 17.79%. As a group, research analysts predict that Cirrus Logic will post 5 EPS for the current fiscal year.

Institutional Investors Weigh In On Cirrus Logic

Institutional investors have recently made changes to their positions in the stock. Covington Capital Management grew its position in shares of Cirrus Logic by 100.0% during the 3rd quarter. Covington Capital Management now owns 400 shares of the semiconductor company’s stock worth $28,000 after buying an additional 200 shares during the period. Parallel Advisors LLC grew its holdings in Cirrus Logic by 50.0% during the second quarter. Parallel Advisors LLC now owns 459 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 153 shares during the period. Truvestments Capital LLC bought a new stake in Cirrus Logic in the second quarter valued at approximately $41,000. CoreCap Advisors LLC acquired a new stake in Cirrus Logic in the second quarter worth $49,000. Finally, Wipfli Financial Advisors LLC bought a new position in shares of Cirrus Logic during the third quarter worth $49,000. 88.12% of the stock is owned by institutional investors and hedge funds.

Cirrus Logic Company Profile

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Cirrus Logic, Inc, a fabless semiconductor company, provides low-power and high-precision mixed-signal processing solutions in the United States and internationally. It offers portable products, including codecs components that integrate analog-to-digital converters (ADCs) and digital-to-analog converters (DACs) into a single integrated circuit (IC); smart codecs, a codec with digital signal processer; boosted amplifiers; digital signal processors; and SoundClear technology, which consists of a portfolio of tools, software, and algorithms that helps to enhance user experience with features, such as louder, high-fidelity sound, audio playback, voice capture, hearing augmentation, and active noise cancellation.

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