Cirrus Logic (NASDAQ:CRUS) Issues Earnings Results

Cirrus Logic (NASDAQ:CRUS) released its quarterly earnings results on Tuesday. The semiconductor company reported $2.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.36 by ($0.21), Zacks reports. Cirrus Logic had a return on equity of 18.15% and a net margin of 17.19%.

Cirrus Logic Price Performance

NASDAQ:CRUS traded up $2.09 during mid-day trading on Tuesday, reaching $101.39. The stock had a trading volume of 1,152,354 shares, compared to its average volume of 692,953. The stock has a market cap of $5.39 billion, a P/E ratio of 17.18 and a beta of 0.91. Cirrus Logic has a fifty-two week low of $76.58 and a fifty-two week high of $147.46. The business’s 50 day moving average is $102.56 and its 200 day moving average is $116.45.

Wall Street Analysts Forecast Growth

CRUS has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Stifel Nicolaus cut their target price on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Barclays lowered their price target on Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 5th. Susquehanna raised their price objective on shares of Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a research report on Monday, November 18th. Finally, Loop Capital assumed coverage on Cirrus Logic in a research report on Tuesday, November 12th. They set a “buy” rating and a $130.00 target price on the stock. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Cirrus Logic currently has an average rating of “Moderate Buy” and a consensus price target of $132.50.

Cirrus Logic Company Profile

Cirrus Logic, Inc, a fabless semiconductor company, develops low-power high-precision mixed-signal processing solutions in China, the United States, and internationally. The company offers audio products, including amplifiers; 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 integrated digital signal processing; standalone 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, and hearing augmentation for use in smartphones, tablets, laptops, AR/VR headsets, home theater systems, automotive entertainment systems, and professional audio systems.