Analysts at Needham & Company increased their price target on shares of Cirrus Logic (NASDAQ: CRUS) from $35.00 to $47.00 in a research report issued to clients and investors on Tuesday. The firm currently has a “buy” rating on the stock.
A number of other analysts have also recently weighed in on CRUS. Analysts at Canaccord Genuity initiated coverage on shares of Cirrus Logic in a research note to investors on Monday. They set a “buy” rating and a $35.00 price target on the stock. Separately, analysts at Oppenheimer downgraded shares of Cirrus Logic from an “outperform” rating to a “perform” rating in a research note to investors on Monday, July 2nd. They noted that the move was a valuation call. Finally, analysts at Capstone raised their price target on shares of Cirrus Logic to $35.00 in a research note to investors on Thursday, May 31st.
Cirrus Logic opened at 29.84 on Tuesday. Cirrus Logic has a 52-week low of $12.52 and a 52-week high of $31.23. The company has a market cap of $1.924 billion and a price-to-earnings ratio of 23.13.
Cirrus Logic last posted its quarterly earnings results on Monday, July 30th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.01. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. Analysts expect that Cirrus Logic will post $1.67 EPS for the current fiscal year.
Cirrus Logic, Inc. (Cirrus Logic) develops high-precision, analog and mixed-signal integrated circuits (ICs) for a range of audio and energy markets.
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