Cirrus Logic, Inc. (NASDAQ:CRUS) Receives $150.71 Consensus Target Price from Analysts

Cirrus Logic, Inc. (NASDAQ:CRUS) has earned a consensus recommendation of “Hold” from the nine analysts that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $150.7143.

Several brokerages have issued reports on CRUS. Jefferies Financial Group upgraded shares of Cirrus Logic to a “buy” rating in a research report on Thursday, June 4th. KeyCorp reduced their price objective on shares of Cirrus Logic from $190.00 to $170.00 and set an “overweight” rating on the stock in a research note on Thursday, August 6th. Stifel Nicolaus reduced their price objective on shares of Cirrus Logic from $197.00 to $160.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Wall Street Zen downgraded Cirrus Logic from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Zacks Research lowered Cirrus Logic from a “hold” rating to a “strong sell” rating in a research report on Friday, August 14th.

Cirrus Logic Trading Up 0.3%

NASDAQ:CRUS opened at $120.38 on Friday. The stock has a market cap of $6.03 billion, a P/E ratio of 14.73 and a beta of 1.16. The stock’s 50-day moving average is $122.30 and its 200-day moving average is $144.32. Cirrus Logic has a 1-year low of $106.26 and a 1-year high of $180.42.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Wednesday, August 5th. The semiconductor company reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.81 by $0.03. Cirrus Logic had a net margin of 21.00% and a return on equity of 20.61%. The business had revenue of $459.72 million during the quarter, compared to analyst estimates of $460.32 million. During the same quarter last year, the business earned $1.51 EPS. The firm’s quarterly revenue was up 12.9% on a year-over-year basis. As a group, equities analysts forecast that Cirrus Logic will post 7.32 EPS for the current year.

Insider Transactions at Cirrus Logic

In related news, EVP Andrew Brannan sold 6,464 shares of Cirrus Logic stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $144.71, for a total value of $935,405.44. Following the transaction, the executive vice president directly owned 7,203 shares of the company’s stock, valued at $1,042,346.13. The trade was a 47.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jeffrey W. Baumgartner sold 1,166 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $117.89, for a total value of $137,459.74. Following the completion of the sale, the executive vice president owned 14,073 shares in the company, valued at $1,659,065.97. The trade was a 7.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 10,254 shares of company stock worth $1,447,262 in the last quarter. Corporate insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CRUS. Geneos Wealth Management Inc. lifted its stake in shares of Cirrus Logic by 120.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 220 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 120 shares during the period. Caitong International Asset Management Co. Ltd grew its stake in Cirrus Logic by 7,333.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 223 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 220 shares during the period. Elevation Wealth Partners LLC grew its stake in Cirrus Logic by 72.5% during the second quarter. Elevation Wealth Partners LLC now owns 295 shares of the semiconductor company’s stock worth $44,000 after purchasing an additional 124 shares during the period. Meeder Asset Management Inc. bought a new stake in Cirrus Logic in the second quarter worth approximately $66,000. Finally, N.E.W. Advisory Services LLC bought a new stake in Cirrus Logic in the second quarter worth approximately $74,000. Institutional investors and hedge funds own 87.96% of the company’s stock.

Cirrus Logic Company Profile

Cirrus Logic, Inc (NASDAQ: CRUS) is a fabless semiconductor company that develops high-performance, low-power integrated circuits and related software. Its products are designed to process audio and other mixed-signal information in electronic devices, helping manufacturers deliver high-quality sound, efficient power management and responsive user experiences.

The company’s product portfolio includes audio codecs, digital-to-analog and analog-to-digital converters, amplifiers, smart codecs, haptic-control solutions and other mixed-signal components.