Cirrus Logic, Inc. (NASDAQ:CRUS – Get Free Report) saw a significant decline in short interest during the month of December. As of December 31st, there was short interest totalling 622,200 shares, a decline of 20.6% from the December 15th total of 784,100 shares. Currently, 1.2% of the shares of the stock are short sold. Based on an average daily volume of 435,700 shares, the short-interest ratio is currently 1.4 days.
Cirrus Logic Trading Down 0.1 %
Shares of CRUS traded down $0.06 during trading hours on Tuesday, reaching $78.11. 289,487 shares of the company traded hands, compared to its average volume of 305,589. The stock’s fifty day moving average price is $78.89 and its 200 day moving average price is $76.87. The firm has a market cap of $4.21 billion, a price-to-earnings ratio of 31.50, a PEG ratio of 12.09 and a beta of 0.99. Cirrus Logic has a 12-month low of $65.02 and a 12-month high of $111.15.
Cirrus Logic (NASDAQ:CRUS – Get Free Report) last released its quarterly earnings data on Thursday, November 2nd. The semiconductor company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.18. The company had revenue of $481.06 million during the quarter, compared to analysts’ expectations of $457.28 million. Cirrus Logic had a net margin of 7.99% and a return on equity of 15.11%. On average, research analysts forecast that Cirrus Logic will post 4.07 earnings per share for the current year.
Wall Street Analysts Forecast Growth
CRUS has been the topic of several recent research reports. StockNews.com cut shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Tuesday. Susquehanna decreased their price objective on Cirrus Logic from $95.00 to $80.00 and set a “positive” rating on the stock in a research report on Tuesday, October 24th. Barclays lifted their target price on Cirrus Logic from $90.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday. KeyCorp lowered their price target on Cirrus Logic from $110.00 to $100.00 and set an “overweight” rating for the company in a research report on Friday, November 3rd. Finally, Loop Capital upgraded shares of Cirrus Logic from a “hold” rating to a “buy” rating and boosted their price objective for the company from $83.00 to $100.00 in a research report on Wednesday, November 1st. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Cirrus Logic currently has a consensus rating of “Moderate Buy” and an average target price of $99.00.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC grew its position in shares of Cirrus Logic by 4.5% during the 3rd quarter. FMR LLC now owns 7,552,630 shares of the semiconductor company’s stock worth $558,593,000 after buying an additional 327,269 shares in the last quarter. Vanguard Group Inc. lifted its stake in Cirrus Logic by 1.7% in the third quarter. Vanguard Group Inc. now owns 6,299,658 shares of the semiconductor company’s stock worth $465,923,000 after acquiring an additional 105,577 shares during the period. Mackenzie Financial Corp grew its holdings in Cirrus Logic by 5.9% during the 4th quarter. Mackenzie Financial Corp now owns 2,891,480 shares of the semiconductor company’s stock worth $215,357,000 after acquiring an additional 160,832 shares in the last quarter. State Street Corp increased its position in Cirrus Logic by 7.0% during the 2nd quarter. State Street Corp now owns 2,103,952 shares of the semiconductor company’s stock valued at $170,441,000 after purchasing an additional 137,227 shares during the period. Finally, Wellington Management Group LLP raised its holdings in shares of Cirrus Logic by 183.8% in the 1st quarter. Wellington Management Group LLP now owns 1,972,087 shares of the semiconductor company’s stock valued at $167,214,000 after purchasing an additional 1,277,213 shares in the last quarter. Institutional investors own 90.18% of the company’s stock.
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 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 processing; boosted amplifiers; 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.