In addition to being a provider of software, Cirrus Logic, Inc. also engages in the manufacturing of computers. A research study conducted by KeyCorp and published on January 11 announced an increase to the earnings projection the company had previously provided for Cirrus Logic’s fiscal year 2024. An analyst who works for KeyCorp named J. Vinh recently revised his earlier projection of the earnings per share of the semiconductor business, raising it from $5.44 to $5.92 in the process. The price target of $110.00 per share has been established for KeyCorp shares, and an “Overweight” rating has been assigned to the stock. The current consensus estimate for Cirrus Logic’s earnings for the entire year is $4.92 per share, based on the company’s historical performance.
The most recent quarterly earnings report for Cirrus Logic, traded on the NASDAQ under the symbol CRUS, was released on November 1 of this year. The semiconductor company’s quarterly report showed that it had profits per share of $1.69, which is $0.45 higher than the average estimate of $1.24 provided by analysts. The results of the calculations for Cirrus Logic were as follows: a return on equity of 23.97% and a net margin of 17.79%. According to various analysts, revenue forecasts ranged anywhere from $470.66 million to $540.57 million.
When trading started on Thursday, one share of CRUS stock was going for a price of $83.80 per share. The moving average price of the company over the previous 50 days is $75.01, and the moving average price of the company over the previous 200 days is $75.29. Cirrus Logic hit a low point of $61.94 over the past year of operations, while the company reached a high point of $95.84 over the same period. The price-to-earnings ratio for this company is 13.94; the price-to-earnings-to-growth ratio for this company is 4.64; and the beta value for this company is 0.96. The company’s total value, as measured by its market capitalization, is $4.61 billion.
Regarding the stock, there have been discussions about it published by various other equity analysts. On Wednesday, November 2, Needham & Company LLC upgraded Cirrus Logic to a “buy” rating and raised its price objective for the stock from $73.00 to $85.00. In addition, the company issued a press release announcing the raise. This information was made public on the company’s website, but various equity analysts published it. On Wednesday, November 2, Needham & Company LLC upgraded Cirrus Logic to a “buy” rating and raised its price objective for the stock from $73.00 to $85.00. In addition, the company issued a press release announcing the raise. This information was made public on the company’s website. As of January 5, StockNews.com’s rating for the shares of Cirrus Logic was changed from “hold” to “buy,” indicating that the website’s analysts now recommend purchasing the stock. In a research report published on November 17, Barclays lowered their “overweight” rating that they had previously assigned to shares of Cirrus Logic. They decreased their target price for the company’s stock from $90.00 down to $85.00.
Additionally, the target price for the stock had previously been set at $90.00. Benchmark lowered their target price for the price at which they would buy Cirrus Logic shares, which they had set previously at $95.00, in a report published on November 2. The new target price is $80.00. The stock has received a unanimous recommendation of five buy ratings from the research analysts, while only one sell rating has been issued. According to the data provided by Bloomberg, the company is currently rated as having a consensus “Moderate Buy” recommendation, and the price target has a consensus value of $97.33.
In recent months, several different hedge funds have adjusted the share of their total assets allocated to CRUS investments. In the first three months of the year, Wellington Management Group LLP was able to amass an additional 183.8% of the total number of Cirrus Logic common stock it owned. After making an additional purchase of 1,277,213 shares during the most recent financial period, Wellington Management Group LLP now possesses 1,972,087 shares of the stock issued by the semiconductor company. There is a total value of $167,214,000 associated with these shares. Balyasny Asset Management LLC invested approximately 46,728,000 dollars during the third quarter in order t