Cirrus Logic, Inc. (NASDAQ:CRUS) Receives $140.00 Average Price Target from Analysts

Cirrus Logic, Inc. (NASDAQ:CRUS) has received an average recommendation of “Moderate Buy” from the seven research firms that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $137.50.

Several research firms have recently commented on CRUS. Barclays downgraded shares of Cirrus Logic from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $140.00 to $120.00 in a research report on Thursday, October 10th. KeyCorp raised their target price on Cirrus Logic from $155.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. StockNews.com downgraded Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. Stifel Nicolaus raised their price objective on Cirrus Logic from $110.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Finally, Susquehanna cut their price objective on shares of Cirrus Logic from $175.00 to $160.00 and set a “positive” rating on the stock in a report on Monday, October 21st.

Cirrus Logic Stock Performance

Shares of NASDAQ:CRUS opened at $122.22 on Friday. Cirrus Logic has a 52-week low of $65.02 and a 52-week high of $147.46. The business’s 50 day simple moving average is $128.88 and its two-hundred day simple moving average is $120.69. The firm has a market cap of $6.53 billion, a P/E ratio of 24.79 and a beta of 0.96.

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, beating the consensus estimate of $0.62 by $0.50. The business had revenue of $374.03 million during the quarter, compared to the consensus estimate of $318.41 million. Cirrus Logic had a net margin of 16.31% and a return on equity of 17.42%. Cirrus Logic’s revenue was up 18.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.35 EPS. On average, equities analysts forecast that Cirrus Logic will post 5.26 earnings per share for the current fiscal year.

Insider Buying and Selling at Cirrus Logic

In other news, SVP Justin E. Dougherty sold 10,203 shares of Cirrus Logic stock in a transaction 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 sale, the senior vice president now directly owns 4,838 shares in the company, valued at $637,212.98. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, SVP Justin E. Dougherty sold 10,203 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $131.71, for a total transaction of $1,343,837.13. Following the completion of the sale, the senior vice president now owns 4,838 shares in the company, valued at approximately $637,212.98. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Andrew Brannan sold 4,350 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $136.04, for a total transaction of $591,774.00. Following the completion of the transaction, the vice president now owns 4,004 shares in the company, valued at approximately $544,704.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.02% of the company’s stock.

Institutional Trading of Cirrus Logic

A number of large investors have recently bought and sold shares of CRUS. Atlas Capital Advisors LLC grew its stake in shares of Cirrus Logic by 103.0% during the 1st quarter. Atlas Capital Advisors LLC now owns 402 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 204 shares during the period. Cardinal Capital Management boosted its position in Cirrus Logic by 19.3% during the first quarter. Cardinal Capital Management now owns 19,771 shares of the semiconductor company’s stock worth $1,830,000 after purchasing an additional 3,195 shares during the period. Diversified Trust Co increased its stake in shares of Cirrus Logic by 8.3% in the first quarter. Diversified Trust Co now owns 9,310 shares of the semiconductor company’s stock worth $862,000 after purchasing an additional 714 shares in the last quarter. State of Michigan Retirement System raised its position in shares of Cirrus Logic by 2.3% in the first quarter. State of Michigan Retirement System now owns 13,241 shares of the semiconductor company’s stock valued at $1,226,000 after purchasing an additional 300 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of Cirrus Logic by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 203,163 shares of the semiconductor company’s stock valued at $18,805,000 after buying an additional 5,203 shares in the last quarter. 87.96% of the stock is owned by hedge funds and other institutional investors.

About Cirrus Logic

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.