Brokerages Set Cirrus Logic, Inc. (NASDAQ:CRUS) Target Price at $107.86

Cirrus Logic, Inc. (NASDAQ:CRUS) has earned an average recommendation of “Moderate Buy” from the seven research firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $107.86.

A number of brokerages recently issued reports on CRUS. Benchmark downgraded Cirrus Logic from a “buy” rating to a “hold” rating in a report on Thursday, May 16th. StockNews.com upgraded Cirrus Logic from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 11th. Stifel Nicolaus boosted their price target on Cirrus Logic from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. KeyCorp boosted their price target on Cirrus Logic from $100.00 to $120.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. Finally, TD Cowen boosted their price target on Cirrus Logic from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, May 8th.

Cirrus Logic Trading Up 1.3 %

NASDAQ CRUS opened at $127.15 on Monday. Cirrus Logic has a 1-year low of $65.02 and a 1-year high of $128.64. The stock has a 50-day moving average of $104.69 and a 200-day moving average of $92.44. The firm has a market cap of $6.80 billion, a PE ratio of 25.79 and a beta of 0.97.

Cirrus Logic (NASDAQ:CRUS) last released its earnings results on Tuesday, May 7th. The semiconductor company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.48. Cirrus Logic had a return on equity of 16.49% and a net margin of 15.35%. The company had revenue of $371.83 million during the quarter, compared to analyst estimates of $320.14 million. As a group, equities research analysts forecast that Cirrus Logic will post 4.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cirrus Logic news, SVP Scott Thomas sold 11,706 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $120.72, for a total transaction of $1,413,148.32. Following the transaction, the senior vice president now owns 23,975 shares in the company, valued at approximately $2,894,262. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Justin E. Dougherty sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $107.85, for a total value of $431,400.00. Following the sale, the senior vice president now owns 5,838 shares in the company, valued at approximately $629,628.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Scott Thomas sold 11,706 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $120.72, for a total value of $1,413,148.32. Following the completion of the sale, the senior vice president now owns 23,975 shares in the company, valued at approximately $2,894,262. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,706 shares of company stock worth $2,187,098. Company insiders own 1.02% of the company’s stock.

Institutional Trading of Cirrus Logic

Hedge funds and other institutional investors have recently made changes to their positions in the stock. MQS Management LLC lifted its position in Cirrus Logic by 4.0% in the 3rd quarter. MQS Management LLC now owns 4,298 shares of the semiconductor company’s stock valued at $318,000 after acquiring an additional 164 shares in the last quarter. Heron Bay Capital Management lifted its position in Cirrus Logic by 1.6% in the 1st quarter. Heron Bay Capital Management now owns 10,672 shares of the semiconductor company’s stock valued at $988,000 after acquiring an additional 169 shares in the last quarter. Truvestments Capital LLC lifted its position in Cirrus Logic by 5.2% in the 3rd quarter. Truvestments Capital LLC now owns 3,462 shares of the semiconductor company’s stock valued at $256,000 after acquiring an additional 171 shares in the last quarter. Covestor Ltd lifted its position in Cirrus Logic by 13.2% in the 3rd quarter. Covestor Ltd now owns 1,492 shares of the semiconductor company’s stock valued at $110,000 after acquiring an additional 174 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its position in Cirrus Logic by 93.7% in the 4th quarter. Venturi Wealth Management LLC now owns 368 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 178 shares in the last quarter. Hedge funds and other institutional investors 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.