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

Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) have been given a consensus recommendation of “Moderate Buy” by the seven research firms that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $141.6667.

A number of research analysts have commented on the stock. Zacks Research upgraded shares of Cirrus Logic from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 27th. Benchmark upped their price objective on shares of Cirrus Logic from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Barclays lifted their target price on shares of Cirrus Logic from $90.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 5th. KeyCorp upped their price target on shares of Cirrus Logic from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Cirrus Logic in a report on Monday.

Insider Buying and Selling

In other Cirrus Logic news, EVP Scott Thomas sold 734 shares of the business’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $131.25, for a total value of $96,337.50. Following the completion of the sale, the executive vice president owned 26,307 shares in the company, valued at approximately $3,452,793.75. The trade was a 2.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Andrew Brannan sold 8,913 shares of the stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $119.06, for a total value of $1,061,181.78. Following the sale, the executive vice president directly owned 5,950 shares of the company’s stock, valued at approximately $708,407. This trade represents a 59.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.16% of the stock is owned by insiders.

Hedge Funds Weigh In On Cirrus Logic

Hedge funds and other institutional investors have recently modified their holdings of the company. Allworth Financial LP boosted its holdings in shares of Cirrus Logic by 1.9% during the third quarter. Allworth Financial LP now owns 7,055 shares of the semiconductor company’s stock worth $884,000 after purchasing an additional 131 shares during the period. Swiss Life Asset Management Ltd bought a new position in Cirrus Logic during the 3rd quarter valued at approximately $306,000. Polar Asset Management Partners Inc. purchased a new stake in Cirrus Logic in the 3rd quarter worth approximately $260,000. Danske Bank A S bought a new stake in shares of Cirrus Logic in the 3rd quarter worth approximately $1,371,000. Finally, Advisory Services Network LLC purchased a new position in shares of Cirrus Logic during the third quarter valued at approximately $252,000. 87.96% of the stock is owned by institutional investors.

Cirrus Logic Stock Up 0.5%

CRUS opened at $121.14 on Friday. The business’s fifty day simple moving average is $123.13 and its 200 day simple moving average is $115.64. Cirrus Logic has a 52 week low of $75.83 and a 52 week high of $136.92. The stock has a market cap of $6.18 billion, a PE ratio of 17.21 and a beta of 1.08.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings data on Tuesday, November 4th. The semiconductor company reported $2.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.32 by $0.51. The firm had revenue of $560.96 million during the quarter, compared to analysts’ expectations of $540.45 million. Cirrus Logic had a return on equity of 19.59% and a net margin of 19.48%.The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.25 EPS. As a group, equities analysts anticipate that Cirrus Logic will post 5.63 earnings per share for the current year.

Cirrus Logic Company Profile

Cirrus Logic, Inc, headquartered in Austin, Texas, is a fabless semiconductor company specializing in high-precision analog and mixed-signal processing solutions. The firm develops low-power, high-performance audio, voice, and power management integrated circuits, serving prominent consumer electronics OEMs. Its semiconductor devices are designed to enhance audio quality, battery life, and system integration in mobile phones, tablets, wireless headsets and other portable devices.

The company’s product portfolio includes digital-to-analog converters (DACs), analog-to-digital converters (ADCs), audio codecs, power management ICs, voice processors and integrated amplifiers.