Cirrus Logic (NASDAQ: CRUS)‘s stock had its “buy” rating reaffirmed by research analysts at Stifel Nicolaus in a report released on Wednesday. They currently have a $42.00 target price on the stock.
Shares of Cirrus Logic traded up 2.94% during mid-day trading on Wednesday, hitting $23.45. Cirrus Logic has a 52 week low of $20.28 and a 52 week high of $45.49. The stock’s 50-day moving average is currently $26.21. The company has a market cap of $1.510 billion and a P/E ratio of 9.74.
Cirrus Logic last released its earnings data on Thursday, January 24th. The company reported $1.64 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.42 by $0.22. The company had revenue of $310.00 million for the quarter, compared to the consensus estimate of $284.96 million. During the same quarter in the prior year, the company posted $0.43 earnings per share. The company’s quarterly revenue was up 153.3% on a year-over-year basis. On average, analysts predict that Cirrus Logic will post $3.55 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at TheStreet reiterated a “buy” rating on shares of Cirrus Logic in a research note to investors on Friday, March 1st. Finally, analysts at Sterne Agee cut their EPS estimates on shares of Cirrus Logic in a research note on Friday. They now have a “buy” rating and a $42.00 price target on the stock.
Six investment analysts have rated the stock with a buy rating, and three have issued a hold rating to the company. The stock currently has a consensus rating of “overweight” and a consensus target price of $41.57.
Cirrus Logic, Inc. is a United States-based company, which supplies high-precision analog and digital signal processing components for audio and energy markets.
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