Cirrus Logic (NASDAQ:CRUS) Price Target Cut to $160.00 by Analysts at Susquehanna

Cirrus Logic (NASDAQ:CRUS) had its target price lowered by research analysts at Susquehanna from $175.00 to $160.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “positive” rating on the semiconductor company’s stock. Susquehanna’s price objective indicates a potential upside of 28.96% from the stock’s previous close.

A number of other analysts have also recently commented on the stock. Stifel Nicolaus upped their price objective on shares of Cirrus Logic from $110.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. KeyCorp increased their price target on Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Barclays cut Cirrus Logic from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $140.00 to $120.00 in a report on Thursday, October 10th. Finally, StockNews.com cut Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $137.50.

Cirrus Logic Trading Down 1.0 %

Shares of CRUS opened at $124.07 on Monday. The stock has a market cap of $6.63 billion, a P/E ratio of 25.17 and a beta of 0.96. The stock’s 50-day moving average price is $130.32 and its two-hundred day moving average price is $120.07. Cirrus Logic has a 1 year low of $65.02 and a 1 year high of $147.46.

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

Insider Buying and Selling

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 sale, the vice president now directly owns 4,004 shares in the company, valued at $544,704.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other 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 transaction of $591,774.00. Following the completion of the transaction, the vice president now directly owns 4,004 shares in the company, valued at $544,704.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Justin E. Dougherty sold 10,203 shares of Cirrus Logic stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $131.71, for a total value of $1,343,837.13. Following the completion of the sale, the senior vice president now directly owns 4,838 shares in the company, valued at approximately $637,212.98. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.02% of the stock is owned by corporate insiders.

Institutional Trading of Cirrus Logic

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pacer Advisors Inc. increased its stake in shares of Cirrus Logic by 8,183.4% during the 2nd quarter. Pacer Advisors Inc. now owns 665,320 shares of the semiconductor company’s stock worth $84,935,000 after purchasing an additional 657,288 shares during the last quarter. LSV Asset Management raised its stake in Cirrus Logic by 34.6% in the second quarter. LSV Asset Management now owns 1,890,493 shares of the semiconductor company’s stock valued at $241,340,000 after buying an additional 486,086 shares during the period. Acadian Asset Management LLC lifted its position in shares of Cirrus Logic by 68.6% in the first quarter. Acadian Asset Management LLC now owns 460,681 shares of the semiconductor company’s stock valued at $42,619,000 after buying an additional 187,438 shares during the last quarter. DNB Asset Management AS bought a new position in shares of Cirrus Logic during the 2nd quarter worth approximately $23,250,000. Finally, Vanguard Group Inc. increased its holdings in shares of Cirrus Logic by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 6,363,188 shares of the semiconductor company’s stock worth $588,977,000 after acquiring an additional 128,393 shares during the last quarter. 87.96% of the stock is owned by institutional investors.

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.