Cirrus Logic - CRUS Stock Forecast, Price & News

7 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Cirrus Logic in the last twelve months. There are currently 1 sell rating and 6 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "buy" CRUS shares.
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7 Wall Street research analysts have issued 12 month price objectives for Cirrus Logic's shares. Their CRUS share price forecasts range from $80.00 to $120.00. On average, they anticipate the company's share price to reach $107.27 in the next year. This suggests a possible upside of 3.6% from the stock's current price.
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Cirrus Logic's stock was trading at $74.48 at the beginning of 2023. Since then, CRUS shares have increased by 39.1% and is now trading at $103.58.
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Cirrus Logic saw a increase in short interest during the month of February. As of February 28th, there was short interest totaling 1,680,000 shares, an increase of 6.3% from the February 13th total of 1,580,000 shares. Based on an average daily trading volume, of 520,600 shares, the days-to-cover ratio is presently 3.2 days. Currently, 3.1% of the company's stock are short sold.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, May 2nd 2023.
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Cirrus Logic, Inc. (NASDAQ:CRUS) issued its earnings results on Thursday, February, 2nd. The semiconductor company reported $2.40 EPS for the quarter, beating the consensus estimate of $1.99 by $0.41. The semiconductor company had revenue of $590.58 million for the quarter, compared to the consensus estimate of $543.55 million. Cirrus Logic had a net margin of 16.22% and a trailing twelve-month return on equity of 22.50%. Cirrus Logic's revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.28 EPS.

ETFs with the largest weight of Cirrus Logic (NASDAQ:CRUS) stock in their portfolio include SPDR S&P Semiconductor ETF (XSD), Innovator IBD Breakout Opportunities ETF (BOUT), Invesco Dynamic Semiconductors ETF (PSI), Fidelity Metaverse ETF (FMET), First Trust Technology AlphaDEX Fund (FXL), Defiance Quantum ETF (QTUM), Invesco S&P MidCap 400 Pure Growth ETF (RFG) and Inspire Fidelis Multi Factor ETF (FDLS).

Cirrus Logic declared that its Board of Directors has approved a stock buyback program on Tuesday, August 2nd 2022, which authorizes the company to buyback $500,000,000.00 in outstanding shares, according to EventVestor. This buyback authorization authorizes the company to reacquire up to 10.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its stock is undervalued.

Cirrus Logic updated its fourth quarter 2023 earnings guidance on Thursday, February, 2nd. The company provided earnings per share (EPS) guidance of for the period. The company issued revenue guidance of $340.00 million-$400.00 million, compared to the consensus revenue estimate of $372.07 million.

25 employees have rated Cirrus Logic Chief Executive Officer John Forsyth on Glassdoor.com. John Forsyth has an approval rating of 92% among the company's employees. This puts John Forsyth in the top 30% of approval ratings compared to other CEOs of publicly-traded companies. 85.0% of employees surveyed would recommend working at Cirrus Logic to a friend.

Based on aggregate information from My MarketBeat watchlists, some companies that other Cirrus Logic investors own include Hawkins (HWKN), NVIDIA (NVDA), Micron Technology (MU), Intel (INTC), QUALCOMM (QCOM), Netflix (NFLX), Walt Disney (DIS), Skyworks Solutions (SWKS), Advanced Micro Devices (AMD) and Cisco Systems (CSCO).

Cirrus Logic trades on the NASDAQ under the ticker symbol "CRUS."

Cirrus Logic's stock is owned by many different institutional and retail investors. Top institutional investors include Mackenzie Financial Corp (5.23%), Dimensional Fund Advisors LP (2.63%), Macquarie Group Ltd. (1.86%), Bank of America Corp DE (1.83%), Fuller & Thaler Asset Management Inc. (1.76%) and LSV Asset Management (1.75%). Insiders that own company stock include Alan R Schuele, Alan R Schuele, Alexander M Davern, Allan Hughes, Andrew Brannan, Carl Jackson Alberty, Jason P Rhode, Jeffrey W Baumgartner, Jodee Benson, John C Carter, John Forsyth, Justin E Dougherty, Scott Arnold Anderson, Scott Thomas, Thurman K Case and Timothy R Dehne.
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Shares of CRUS stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of CRUS stock can currently be purchased for approximately $103.58.

Cirrus Logic (NASDAQ:CRUS) has a market capitalization of $5.72 billion and generates $1.78 billion in revenue each year. The semiconductor company earns $326.36 million in net income (profit) each year or $5.68 on an earnings per share basis.

The company employs 1,591 workers across the globe.

Cirrus Logic's mailing address is 800 WEST 6TH STREET, AUSTIN TX, 78701. The official website for the company is www.cirrus.com. The semiconductor company can be reached via phone at (512) 851-4000, via email at investor.relations@cirrus.com, or via fax at 800-888-5016.