Cirrus Logic, Inc. (NASDAQ:CRUS) Receives Average Recommendation of “Moderate Buy” from Brokerages

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

A number of research analysts have recently commented on the company. KeyCorp raised 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. Susquehanna boosted their target price 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. Barclays increased their price target on shares of Cirrus Logic from $110.00 to $140.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. 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, Benchmark lowered shares of Cirrus Logic from a “buy” rating to a “hold” rating in a report on Thursday, May 16th.

Cirrus Logic Trading Up 0.9 %

Shares of Cirrus Logic stock opened at $145.69 on Friday. Cirrus Logic has a 12-month low of $65.02 and a 12-month high of $147.46. The company has a market cap of $7.79 billion, a P/E ratio of 29.55 and a beta of 0.94. The company’s fifty day simple moving average is $133.26 and its two-hundred day simple moving average is $110.95.

Cirrus Logic (NASDAQ:CRUS) last announced its earnings results on Tuesday, August 6th. The semiconductor company reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.50. The firm had revenue of $374.03 million for the quarter, compared to analyst estimates of $318.41 million. Cirrus Logic had a net margin of 15.35% and a return on equity of 16.49%. The company’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.35 EPS. Analysts predict that Cirrus Logic will post 4.75 EPS for the current fiscal year.

Insider Activity

In other news, VP Andrew Brannan sold 4,350 shares of Cirrus Logic stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $136.04, for a total value of $591,774.00. Following the completion of the sale, the vice president now directly owns 4,004 shares in the company, valued at $544,704.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Andrew Brannan sold 4,350 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was 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 SEC, which is accessible through this link. Also, SVP Scott Thomas sold 11,706 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $120.72, for a total value 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 a total of 26,259 shares of company stock valued at $3,348,759 in the last 90 days. 1.02% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cirrus Logic

Institutional investors have recently made changes to their positions in the business. Teachers Retirement System of The State of Kentucky increased its holdings in Cirrus Logic by 14.3% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 38,386 shares of the semiconductor company’s stock valued at $4,901,000 after buying an additional 4,817 shares during the last quarter. Aristides Capital LLC purchased a new stake in shares of Cirrus Logic in the 2nd quarter worth $215,000. Northwestern Mutual Wealth Management Co. raised its holdings in Cirrus Logic by 52.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 961 shares of the semiconductor company’s stock worth $123,000 after purchasing an additional 329 shares during the period. Creative Planning lifted its position in Cirrus Logic by 31.6% during the second quarter. Creative Planning now owns 7,518 shares of the semiconductor company’s stock valued at $960,000 after purchasing an additional 1,807 shares in the last quarter. Finally, Algert Global LLC grew its holdings in Cirrus Logic by 7.7% during the second quarter. Algert Global LLC now owns 152,458 shares of the semiconductor company’s stock valued at $19,463,000 after purchasing an additional 10,836 shares during the period. Institutional investors own 87.96% of the company’s stock.

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.