Brokerages Set Cirrus Logic, Inc. (NASDAQ:CRUS) Target Price at $140.00

Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) have earned a consensus recommendation of “Moderate Buy” from the seven research firms that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $137.50.

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

Cirrus Logic Stock Down 1.0 %

NASDAQ CRUS opened at $124.07 on Friday. The business’s 50-day moving average price is $130.32 and its 200 day moving average price is $120.07. The firm has a market cap of $6.63 billion, a P/E ratio of 25.17 and a beta of 0.96. Cirrus Logic has a 52-week low of $65.02 and a 52-week high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported $1.12 EPS for the quarter, topping the consensus estimate of $0.62 by $0.50. Cirrus Logic had a return on equity of 17.42% and a net margin of 16.31%. The business had revenue of $374.03 million during the quarter, compared to analysts’ expectations of $318.41 million. During the same quarter in the prior year, the business earned $0.35 earnings per share. The company’s quarterly revenue was up 18.0% compared to the same quarter last year. As a group, analysts anticipate that Cirrus Logic will post 5.26 earnings per share for the current year.

Insider Transactions at Cirrus Logic

In related news, VP Andrew Brannan sold 4,350 shares of Cirrus Logic 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 completion of the transaction, the vice president now directly owns 4,004 shares of the company’s stock, valued at approximately $544,704.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, VP Andrew Brannan sold 4,350 shares of the 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 sale, the vice president now directly owns 4,004 shares of the company’s stock, valued at approximately $544,704.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Justin E. Dougherty sold 10,203 shares of Cirrus Logic stock in a transaction dated 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 transaction, the senior vice president now owns 4,838 shares of the company’s stock, valued at approximately $637,212.98. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.02% of the company’s stock.

Institutional Investors Weigh In On Cirrus Logic

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Lecap Asset Management Ltd. raised its holdings in shares of Cirrus Logic by 316.2% in the third quarter. Lecap Asset Management Ltd. now owns 17,009 shares of the semiconductor company’s stock worth $2,113,000 after acquiring an additional 12,922 shares during the last quarter. Global X Japan Co. Ltd. purchased a new stake in Cirrus Logic during the 3rd quarter worth about $635,000. Raymond James & Associates raised its stake in Cirrus Logic by 48.4% in the 3rd quarter. Raymond James & Associates now owns 33,459 shares of the semiconductor company’s stock valued at $4,156,000 after purchasing an additional 10,919 shares during the last quarter. Blue Trust Inc. lifted its holdings in Cirrus Logic by 24.1% in the 3rd quarter. Blue Trust Inc. now owns 5,449 shares of the semiconductor company’s stock valued at $696,000 after purchasing an additional 1,057 shares in the last quarter. Finally, Aaron Wealth Advisors LLC acquired a new stake in shares of Cirrus Logic during the 3rd quarter worth about $205,000. 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.