Cirrus Logic, Inc. (NASDAQ:CRUS) Receives $132.86 Consensus Target Price from Analysts

Cirrus Logic, Inc. (NASDAQ:CRUS) has received a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $132.86.

A number of brokerages have issued reports on CRUS. Susquehanna upped their target price on Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a research report on Monday, November 18th. StockNews.com raised Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Stifel Nicolaus decreased their target price on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Loop Capital began coverage on Cirrus Logic in a research report on Tuesday, November 12th. They set a “buy” rating and a $130.00 target price for the company. Finally, Barclays upped their target price on Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th.

Cirrus Logic Stock Performance

Shares of NASDAQ CRUS opened at $104.21 on Friday. The stock has a market cap of $5.54 billion, a price-to-earnings ratio of 18.91 and a beta of 0.91. The business has a 50 day simple moving average of $103.45 and a 200 day simple moving average of $113.87. Cirrus Logic has a 52 week low of $81.30 and a 52 week high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 EPS for the quarter, missing the consensus estimate of $2.36 by ($0.21). Cirrus Logic had a net margin of 16.55% and a return on equity of 16.60%. On average, analysts predict that Cirrus Logic will post 5.63 EPS for the current year.

Insider Activity

In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $100.00, for a total value of $205,100.00. Following the completion of the sale, the executive vice president now directly owns 8,330 shares of the company’s stock, valued at approximately $833,000. This represents a 19.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.02% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cirrus Logic

Hedge funds have recently modified their holdings of the business. Atria Investments Inc raised its stake in shares of Cirrus Logic by 2.9% in the third quarter. Atria Investments Inc now owns 3,596 shares of the semiconductor company’s stock valued at $447,000 after purchasing an additional 101 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Cirrus Logic by 0.7% in the fourth quarter. Arizona State Retirement System now owns 15,492 shares of the semiconductor company’s stock valued at $1,543,000 after purchasing an additional 101 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Cirrus Logic by 98.4% in the third quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 120 shares in the last quarter. Truvestments Capital LLC raised its stake in shares of Cirrus Logic by 3.5% in the fourth quarter. Truvestments Capital LLC now owns 3,981 shares of the semiconductor company’s stock valued at $396,000 after purchasing an additional 133 shares in the last quarter. Finally, Captrust Financial Advisors raised its stake in shares of Cirrus Logic by 5.3% in the third quarter. Captrust Financial Advisors now owns 2,838 shares of the semiconductor company’s stock valued at $353,000 after purchasing an additional 142 shares in the last quarter. 87.96% of the stock is owned by institutional investors.

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.