Cirrus Logic (NASDAQ:CRUS) Cut to Buy at Wall Street Zen

Wall Street Zen lowered shares of Cirrus Logic (NASDAQ:CRUS) from a strong-buy rating to a buy rating in a report issued on Saturday morning.

Several other analysts also recently issued reports on the stock. Williams Trading set a $150.00 target price on shares of Cirrus Logic in a research note on Wednesday, November 5th. Zacks Research raised shares of Cirrus Logic from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 27th. Stifel Nicolaus increased their price objective on Cirrus Logic from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Susquehanna raised their price objective on Cirrus Logic from $140.00 to $155.00 and gave the stock a “positive” rating in a research report on Wednesday, October 22nd. Finally, KeyCorp raised their price objective on shares of Cirrus Logic from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Cirrus Logic currently has an average rating of “Moderate Buy” and a consensus price target of $140.00.

Cirrus Logic Price Performance

Cirrus Logic stock opened at $118.74 on Friday. The stock has a market capitalization of $6.06 billion, a PE ratio of 18.58 and a beta of 1.11. The firm has a 50 day simple moving average of $123.62 and a 200-day simple moving average of $111.29. Cirrus Logic has a 12-month low of $75.83 and a 12-month high of $136.92.

Cirrus Logic (NASDAQ:CRUS) last announced its earnings results on Tuesday, November 4th. The semiconductor company reported $2.83 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.51. Cirrus Logic had a return on equity of 18.38% and a net margin of 18.15%.The business had revenue of $560.96 million during the quarter, compared to analysts’ expectations of $540.45 million. During the same quarter last year, the business posted $2.25 earnings per share. The company’s quarterly revenue was up 3.5% on a year-over-year basis. Cirrus Logic has set its Q3 2026 guidance at EPS. On average, analysts forecast that Cirrus Logic will post 5.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Scott Thomas sold 734 shares of the business’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $131.25, for a total value of $96,337.50. Following the completion of the transaction, the executive vice president owned 26,307 shares of the company’s stock, valued at $3,452,793.75. The trade was a 2.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jeffrey W. Baumgartner sold 9,162 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $120.00, for a total value of $1,099,440.00. Following the sale, the executive vice president directly owned 14,001 shares in the company, valued at approximately $1,680,120. This represents a 39.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 33,187 shares of company stock valued at $3,918,128 over the last three months. Company insiders own 1.16% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Hillsdale Investment Management Inc. boosted its holdings in Cirrus Logic by 22.8% during the third quarter. Hillsdale Investment Management Inc. now owns 9,170 shares of the semiconductor company’s stock worth $1,149,000 after purchasing an additional 1,700 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in Cirrus Logic in the 3rd quarter valued at $246,000. NewEdge Wealth LLC boosted its holdings in Cirrus Logic by 16.6% in the 3rd quarter. NewEdge Wealth LLC now owns 8,309 shares of the semiconductor company’s stock valued at $992,000 after purchasing an additional 1,183 shares during the period. Syon Capital LLC lifted its position in shares of Cirrus Logic by 68.9% during the 3rd quarter. Syon Capital LLC now owns 7,416 shares of the semiconductor company’s stock valued at $929,000 after acquiring an additional 3,024 shares during the period. Finally, Rothschild Investment LLC acquired a new stake in Cirrus Logic during the third quarter worth about $48,000. 87.96% of the stock is currently 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.