Cirrus Logic (NASDAQ:CRUS) Reaches New 12-Month High at $143.43

Cirrus Logic, Inc. (NASDAQ:CRUS)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $143.43 and last traded at $143.18, with a volume of 37003 shares. The stock had previously closed at $139.69.

Analyst Upgrades and Downgrades

CRUS has been the topic of several recent research reports. Susquehanna increased their target price on Cirrus Logic from $120.00 to $175.00 and gave the company a “positive” rating in a research report on Wednesday, July 17th. StockNews.com cut Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 15th. TD Cowen raised their price target on Cirrus Logic from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. KeyCorp lifted their target price on shares of Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Finally, Stifel Nicolaus upped their price target on shares of Cirrus Logic from $110.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.33.

Cirrus Logic Trading Up 2.2 %

The firm has a market cap of $7.63 billion, a PE ratio of 28.33 and a beta of 0.94. The company has a 50-day simple moving average of $130.41 and a 200 day simple moving average of $108.16.

Cirrus Logic (NASDAQ:CRUS) last issued 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. The company had revenue of $374.03 million for the quarter, compared to the consensus estimate of $318.41 million. Cirrus Logic had a return on equity of 16.49% and a net margin of 15.35%. Cirrus Logic’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.35 earnings per share. On average, equities analysts expect that Cirrus Logic, Inc. will post 4.75 earnings per share for the current year.

Insiders Place Their Bets

In other Cirrus Logic news, 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 transaction, the vice president now owns 4,004 shares of the company’s stock, valued at $544,704.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Cirrus Logic news, 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 value of $591,774.00. Following the transaction, the vice president now directly owns 4,004 shares in the company, valued at approximately $544,704.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Scott Thomas sold 11,706 shares of the firm’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 sale, the senior vice president now owns 23,975 shares of the company’s stock, valued at approximately $2,894,262. The disclosure for this sale can be found here. Insiders have sold 27,259 shares of company stock valued at $3,464,609 in the last ninety days. 1.02% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cirrus Logic

Several large investors have recently modified their holdings of CRUS. Atlas Capital Advisors LLC raised its stake in shares of Cirrus Logic by 103.0% in the 1st quarter. Atlas Capital Advisors LLC now owns 402 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 204 shares during the period. Quadrant Capital Group LLC raised its position in Cirrus Logic by 72.3% in the fourth quarter. Quadrant Capital Group LLC now owns 510 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 214 shares during the period. Versant Capital Management Inc lifted its stake in Cirrus Logic by 1,911.1% during the second quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company’s stock worth $46,000 after purchasing an additional 344 shares in the last quarter. Venturi Wealth Management LLC boosted its position in shares of Cirrus Logic by 60.3% during the first quarter. Venturi Wealth Management LLC now owns 590 shares of the semiconductor company’s stock worth $55,000 after buying an additional 222 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Cirrus Logic by 79.5% during the second quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company’s stock worth $61,000 after buying an additional 210 shares during the period. 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.