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

Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) have been assigned an average rating of “Moderate Buy” from the eight analysts that are currently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $161.7143.

Several brokerages have recently weighed in on CRUS. Zacks Research lowered Cirrus Logic from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Weiss Ratings reissued a “hold (c+)” rating on shares of Cirrus Logic in a research report on Friday, March 27th. Stifel Nicolaus set a $197.00 target price on Cirrus Logic in a research report on Thursday, May 7th. Benchmark raised their target price on Cirrus Logic from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, February 4th. Finally, Loop Capital lowered Cirrus Logic from a “buy” rating to a “hold” rating and set a $130.00 target price on the stock. in a research report on Monday, February 2nd.

Cirrus Logic Price Performance

CRUS stock opened at $171.17 on Monday. The firm has a market capitalization of $8.73 billion, a P/E ratio of 21.83 and a beta of 1.16. The business’s 50-day moving average is $156.25 and its two-hundred day moving average is $137.49. Cirrus Logic has a 1 year low of $92.02 and a 1 year high of $179.00.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings results on Wednesday, May 6th. The semiconductor company reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.19. The company had revenue of $448.52 million for the quarter, compared to analyst estimates of $442.26 million. Cirrus Logic had a return on equity of 20.48% and a net margin of 20.75%.Cirrus Logic’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.67 EPS. On average, analysts expect that Cirrus Logic will post 8.01 EPS for the current year.

Insider Transactions at Cirrus Logic

In other news, Director Alexander M. Davern sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $159.00, for a total transaction of $159,000.00. Following the sale, the director owned 20,531 shares of the company’s stock, valued at approximately $3,264,429. This trade represents a 4.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John Forsyth sold 5,000 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $170.41, for a total value of $852,050.00. Following the sale, the chief executive officer directly owned 70,016 shares in the company, valued at $11,931,426.56. This trade represents a 6.67% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 15,942 shares of company stock valued at $2,602,864. Corporate insiders own 1.16% of the company’s stock.

Institutional Investors Weigh In On Cirrus Logic

Hedge funds and other institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC increased its stake in Cirrus Logic by 6.2% during the fourth quarter. Parallel Advisors LLC now owns 1,368 shares of the semiconductor company’s stock worth $162,000 after acquiring an additional 80 shares during the last quarter. CIBC Private Wealth Group LLC increased its stake in Cirrus Logic by 29.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 389 shares of the semiconductor company’s stock worth $46,000 after acquiring an additional 88 shares during the last quarter. Kendall Capital Management increased its stake in Cirrus Logic by 0.9% during the fourth quarter. Kendall Capital Management now owns 10,600 shares of the semiconductor company’s stock worth $1,256,000 after acquiring an additional 90 shares during the last quarter. EP Wealth Advisors LLC increased its stake in Cirrus Logic by 1.7% during the second quarter. EP Wealth Advisors LLC now owns 5,739 shares of the semiconductor company’s stock worth $598,000 after acquiring an additional 95 shares during the last quarter. Finally, Diversified Trust Co increased its stake in Cirrus Logic by 1.1% during the first quarter. Diversified Trust Co now owns 9,097 shares of the semiconductor company’s stock worth $1,316,000 after acquiring an additional 102 shares during the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

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.