Cirrus Logic, Inc. (NASDAQ:CRUS) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) have earned an average rating of “Moderate Buy” from the seven analysts that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $143.33.

CRUS has been the topic of a number of research reports. KeyCorp increased their price objective on Cirrus Logic from $155.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Barclays raised their price target on shares of Cirrus Logic from $110.00 to $140.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Susquehanna upped their price objective on shares of Cirrus Logic from $120.00 to $175.00 and gave the company a “positive” rating in a report on Wednesday, July 17th. StockNews.com lowered shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 15th. Finally, Stifel Nicolaus boosted their target price on shares of Cirrus Logic from $110.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, July 18th.

Cirrus Logic Stock Down 0.3 %

Shares of Cirrus Logic stock opened at $121.60 on Wednesday. The company has a 50 day moving average price of $132.22 and a 200 day moving average price of $116.60. The firm has a market capitalization of $6.50 billion, a P/E ratio of 24.67 and a beta of 0.97. Cirrus Logic has a 52 week low of $65.02 and a 52 week high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.50. Cirrus Logic had a net margin of 16.31% and a return on equity of 17.42%. The business had revenue of $374.03 million during the quarter, compared to analysts’ expectations of $318.41 million. During the same quarter last year, the company posted $0.35 earnings per share. The business’s quarterly revenue was up 18.0% on a year-over-year basis. As a group, research analysts anticipate that Cirrus Logic will post 5.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Justin E. Dougherty sold 10,203 shares of Cirrus Logic stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $131.71, for a total value of $1,343,837.13. Following the completion of the transaction, the senior vice president now owns 4,838 shares in the company, valued at approximately $637,212.98. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, SVP Justin E. Dougherty sold 10,203 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $131.71, for a total transaction of $1,343,837.13. Following the transaction, the senior vice president now owns 4,838 shares in the company, valued at approximately $637,212.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Andrew Brannan sold 4,350 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $136.04, for a total transaction of $591,774.00. Following the completion of the sale, the vice president now directly owns 4,004 shares of the company’s stock, valued at approximately $544,704.16. The disclosure for this sale can be found here. Insiders own 1.02% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Profund Advisors LLC lifted its position in shares of Cirrus Logic by 2.0% in the second quarter. Profund Advisors LLC now owns 5,271 shares of the semiconductor company’s stock valued at $673,000 after acquiring an additional 103 shares in the last quarter. Arkadios Wealth Advisors lifted its holdings in Cirrus Logic by 2.8% in the 2nd quarter. Arkadios Wealth Advisors now owns 4,413 shares of the semiconductor company’s stock valued at $563,000 after purchasing an additional 119 shares in the last quarter. Oak Associates Ltd. OH grew its holdings in shares of Cirrus Logic by 0.4% during the second quarter. Oak Associates Ltd. OH now owns 34,176 shares of the semiconductor company’s stock worth $4,363,000 after buying an additional 134 shares in the last quarter. Holderness Investments Co. raised its position in shares of Cirrus Logic by 0.3% in the second quarter. Holderness Investments Co. now owns 47,366 shares of the semiconductor company’s stock valued at $6,047,000 after buying an additional 155 shares during the last quarter. Finally, Signaturefd LLC lifted its stake in shares of Cirrus Logic by 19.5% in the second quarter. Signaturefd LLC now owns 999 shares of the semiconductor company’s stock worth $128,000 after buying an additional 163 shares in the last quarter. 87.96% of the stock is owned by hedge funds and other institutional investors.

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.