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Cirrus Logic (NASDAQ:CRUS) was upgraded by equities research analysts at KeyCorp from a “sector weight” rating to an “overweight” rating in a research note issued to investors on Wednesday, AnalystRatings.net reports. The brokerage currently has a $100.00 target price on the semiconductor company’s stock. KeyCorp’s price target would indicate a potential upside of 9.46% from the company’s previous close. KeyCorp also issued estimates for Cirrus Logic’s Q1 2022 earnings at $0.47 EPS and Q2 2022 earnings at $1.04 EPS.

A number of other brokerages also recently issued reports on CRUS. Zacks Investment Research downgraded Cirrus Logic from a “buy” rating to a “hold” rating and set a $73.00 price target on the stock. in a report on Tuesday, October 6th. Craig Hallum boosted their target price on Cirrus Logic from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, November 3rd. Cowen raised their price target on Cirrus Logic from $90.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 3rd. Stifel Nicolaus boosted their price objective on shares of Cirrus Logic from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, November 3rd. Finally, BidaskClub raised shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Sunday, November 29th. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Cirrus Logic has a consensus rating of “Buy” and a consensus target price of $84.89.

Shares of NASDAQ CRUS opened at $91.36 on Wednesday. The firm’s fifty day moving average is $80.27 and its 200 day moving average is $68.71. Cirrus Logic has a 52 week low of $47.04 and a 52 week high of $92.14. The company has a market cap of $5.30 billion, a price-to-earnings ratio of 27.50, a PEG ratio of 3.43 and a beta of 0.88.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings results on Saturday, November 7th. The semiconductor company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.36. Cirrus Logic had a net margin of 12.57% and a return on equity of 14.92%. The business had revenue of $347.33 million for the quarter, compared to analyst estimates of $310.18 million. During the same quarter last year, the firm earned $1.55 EPS. The company’s revenue was down 10.7% on a year-over-year basis. As a group, equities analysts predict that Cirrus Logic will post 3.53 EPS for the current year.

In other Cirrus Logic news, CFO Thurman K. Case sold 9,034 shares of the business’s stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $71.95, for a total value of $649,996.30. Following the sale, the chief financial officer now directly owns 11,555 shares of the company’s stock, valued at $831,382.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jason P. Rhode sold 70,317 shares of the firm’s stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $71.72, for a total value of $5,043,135.24. Following the transaction, the chief executive officer now owns 276,458 shares of the company’s stock, valued at $19,827,567.76. The disclosure for this sale can be found here. Insiders have sold 97,167 shares of company stock worth $7,084,339 in the last three months. 1.83% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the stock. Private Advisor Group LLC purchased a new stake in Cirrus Logic during the 2nd quarter valued at about $25,000. Point72 Hong Kong Ltd purchased a new stake in shares of Cirrus Logic during the third quarter valued at approximately $103,000. Captrust Financial Advisors increased its position in shares of Cirrus Logic by 103.3% during the second quarter. Captrust Financial Advisors now owns 1,911 shares of the semiconductor company’s stock valued at $115,000 after acquiring an additional 971 shares in the last quarter. First Allied Advisory Services Inc. purchased a new position in Cirrus Logic in the 3rd quarter worth approximately $203,000. Finally, Brandywine Oak Private Wealth LLC bought a new position in Cirrus Logic in the 3rd quarter valued at approximately $206,000. Institutional investors own 85.55% 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) in the United States and internationally. It offers portable products, including codecs-chips that integrate analog-to-digital converters (ADCs) and digital-to-analog converters (DACs) into a single IC; smart codecs, a codec with digital signal processer; boosted amplifiers; micro-electromechanical systems microphones; haptic drivers; digital signal processors; and SoundClear technology, which consists of a portfolio of tools, software, and algorithms that offer enhanced voice quality, voice capture, and audio playback features.

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Analyst Recommendations for Cirrus Logic (NASDAQ:CRUS)

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