Cirrus Logic, Inc. (NASDAQ:CRUS) Short Interest Update

Cirrus Logic, Inc. (NASDAQ:CRUS) was the target of a large increase in short interest in October. As of October 31st, there was short interest totalling 2,210,000 shares, an increase of 12.8% from the October 15th total of 1,960,000 shares. Currently, 4.2% of the company’s stock are short sold. Based on an average daily volume of 609,400 shares, the short-interest ratio is currently 3.6 days.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Stifel Nicolaus dropped their price target on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. KeyCorp increased their target price on shares of Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Barclays reduced their price target on shares of Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating for the company in a report on Tuesday, November 5th. StockNews.com downgraded shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, Susquehanna lifted their price objective on shares of Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a report on Monday. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Cirrus Logic presently has a consensus rating of “Moderate Buy” and an average price target of $132.50.

Cirrus Logic Stock Performance

NASDAQ:CRUS traded up $0.39 during midday trading on Monday, reaching $101.06. 775,793 shares of the stock traded hands, compared to its average volume of 517,186. The business has a 50-day moving average of $118.20 and a two-hundred day moving average of $123.26. The stock has a market capitalization of $5.37 billion, a PE ratio of 17.13 and a beta of 0.96. Cirrus Logic has a 12-month low of $74.80 and a 12-month high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings data on Monday, November 4th. The semiconductor company reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.23. Cirrus Logic had a return on equity of 18.15% and a net margin of 17.19%. The firm had revenue of $541.90 million during the quarter, compared to analysts’ expectations of $520.53 million. During the same quarter last year, the firm earned $1.43 EPS. The business’s quarterly revenue was up 12.6% on a year-over-year basis. Research analysts anticipate that Cirrus Logic will post 5.21 earnings per share for the current year.

Institutional Trading of Cirrus Logic

A number of hedge funds have recently modified their holdings of CRUS. Vanguard Group Inc. raised its holdings in shares of Cirrus Logic by 2.1% during the first quarter. Vanguard Group Inc. now owns 6,363,188 shares of the semiconductor company’s stock valued at $588,977,000 after acquiring an additional 128,393 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in shares of Cirrus Logic by 13.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 48,030 shares of the semiconductor company’s stock valued at $4,446,000 after acquiring an additional 5,645 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Cirrus Logic by 52.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 961 shares of the semiconductor company’s stock valued at $123,000 after purchasing an additional 329 shares during the period. Susquehanna Fundamental Investments LLC grew its position in Cirrus Logic by 741.0% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 27,754 shares of the semiconductor company’s stock valued at $3,543,000 after acquiring an additional 24,454 shares in the last quarter. Finally, Raymond James & Associates grew its holdings in shares of Cirrus Logic by 48.4% in the third quarter. Raymond James & Associates now owns 33,459 shares of the semiconductor company’s stock valued at $4,156,000 after purchasing an additional 10,919 shares in the last quarter. Hedge funds and other institutional investors own 87.96% 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 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.