Stifel Nicolaus Cuts Cirrus Logic (NASDAQ:CRUS) Price Target to $140.00

Cirrus Logic (NASDAQ:CRUS) had its price target reduced by Stifel Nicolaus from $165.00 to $140.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the semiconductor company’s stock.

Several other research analysts have also recently commented on CRUS. Barclays decreased their target price on shares of Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating for the company in a research report on Tuesday. Susquehanna decreased their price objective on Cirrus Logic from $160.00 to $135.00 and set a “positive” rating for the company in a report on Tuesday. KeyCorp lifted their target price on Cirrus Logic from $155.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Finally, StockNews.com cut Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $132.00.

Cirrus Logic Price Performance

Shares of CRUS opened at $103.55 on Tuesday. The stock has a market capitalization of $5.53 billion, a PE ratio of 17.55 and a beta of 0.96. The business’s fifty day moving average price is $123.31 and its 200 day moving average price is $121.98. Cirrus Logic has a 12-month low of $69.23 and a 12-month high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings results on Monday, November 4th. The semiconductor company reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.23. Cirrus Logic had a return on equity of 18.42% and a net margin of 17.19%. The business had revenue of $541.90 million for the quarter, compared to the consensus estimate of $520.53 million. During the same quarter last year, the business posted $1.43 EPS. The business’s revenue was up 12.6% on a year-over-year basis. As a group, research analysts anticipate that Cirrus Logic will post 5.37 earnings per share for the current fiscal year.

Insider Transactions at Cirrus Logic

In related news, VP Andrew Brannan sold 4,350 shares of Cirrus Logic stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $136.04, for a total transaction of $591,774.00. Following the transaction, the vice president now directly owns 4,004 shares of the company’s stock, valued at $544,704.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.02% of the company’s stock.

Hedge Funds Weigh In On Cirrus Logic

Hedge funds have recently made changes to their positions in the business. Huntington National Bank lifted its stake in Cirrus Logic by 10,500.0% during the third quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 210 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Cirrus Logic by 98.4% in the third quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 120 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Cirrus Logic during the 3rd quarter valued at $31,000. Versant Capital Management Inc boosted its stake in shares of Cirrus Logic by 1,911.1% during the 2nd quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company’s stock worth $46,000 after acquiring an additional 344 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Cirrus Logic by 79.5% during the 2nd quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company’s stock worth $61,000 after acquiring an additional 210 shares in the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

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.