Brokerages Set Cirrus Logic, Inc. (NASDAQ:CRUS) Target Price at $96.43

Cirrus Logic, Inc. (NASDAQ:CRUS) has received an average recommendation of “Buy” from the six brokerages that are currently covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a buy recommendation. The average 1-year target price among analysts that have issued a report on the stock in the last year is $96.43.

Several brokerages recently commented on CRUS. TD Cowen increased their price target on Cirrus Logic from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. TheStreet raised Cirrus Logic from a “c+” rating to a “b-” rating in a research report on Tuesday, January 23rd. Barclays increased their price target on Cirrus Logic from $90.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, January 16th. Stifel Nicolaus increased their price target on Cirrus Logic from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Finally, StockNews.com downgraded Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 21st.

Cirrus Logic Price Performance

Shares of Cirrus Logic stock opened at $91.77 on Wednesday. Cirrus Logic has a 1 year low of $65.02 and a 1 year high of $103.90. The business has a 50-day moving average of $89.37 and a two-hundred day moving average of $80.56. The company has a market capitalization of $4.95 billion, a P/E ratio of 29.13, a price-to-earnings-growth ratio of 16.28 and a beta of 1.00.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $2.53 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.83. The company had revenue of $618.98 million during the quarter, compared to analysts’ expectations of $539.55 million. Cirrus Logic had a return on equity of 16.13% and a net margin of 9.84%. On average, equities analysts anticipate that Cirrus Logic will post 4.79 EPS for the current fiscal year.

Insider Activity at Cirrus Logic

In related news, CFO Venkatesh Nathamuni sold 1,000 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. Following the transaction, the chief financial officer now owns 1,587 shares in the company, valued at approximately $150,765. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Cirrus Logic news, VP Andrew Brannan sold 3,250 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $94.00, for a total value of $305,500.00. Following the completion of the sale, the vice president now owns 6,055 shares of the company’s stock, valued at approximately $569,170. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Venkatesh Nathamuni sold 1,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $95.00, for a total transaction of $95,000.00. Following the completion of the sale, the chief financial officer now directly owns 1,587 shares of the company’s stock, valued at approximately $150,765. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,530 shares of company stock worth $700,292. Insiders own 0.89% of the company’s stock.

Institutional Trading of Cirrus Logic

A number of institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. lifted its holdings in shares of Cirrus Logic by 6.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,168 shares of the semiconductor company’s stock worth $176,000 after acquiring an additional 128 shares during the period. Stifel Financial Corp increased its position in Cirrus Logic by 0.4% during the 4th quarter. Stifel Financial Corp now owns 37,526 shares of the semiconductor company’s stock worth $3,122,000 after purchasing an additional 152 shares in the last quarter. Captrust Financial Advisors increased its position in Cirrus Logic by 3.1% during the 2nd quarter. Captrust Financial Advisors now owns 5,312 shares of the semiconductor company’s stock worth $430,000 after purchasing an additional 160 shares in the last quarter. MQS Management LLC increased its position in Cirrus Logic by 4.0% during the 3rd quarter. MQS Management LLC now owns 4,298 shares of the semiconductor company’s stock worth $318,000 after purchasing an additional 164 shares in the last quarter. Finally, Truvestments Capital LLC increased its position in Cirrus Logic by 5.2% during the 3rd quarter. Truvestments Capital LLC now owns 3,462 shares of the semiconductor company’s stock worth $256,000 after purchasing an additional 171 shares in the last quarter. Institutional investors own 87.96% of the company’s stock.

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 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 digital signal processing; boosted amplifiers; 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.