Cirrus Logic, Inc. (NASDAQ:CRUS) Receives $96.43 Average PT from Brokerages

Cirrus Logic, Inc. (NASDAQ:CRUS) has been assigned a consensus recommendation of “Buy” from the six research firms that are covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $96.43.

CRUS has been the topic of several research reports. StockNews.com cut shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 20th. TD Cowen boosted their price target on shares of Cirrus Logic from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Susquehanna boosted their price target on shares of Cirrus Logic from $85.00 to $100.00 and gave the stock a “positive” rating in a research report on Wednesday, February 7th. Stifel Nicolaus boosted their price objective on shares of Cirrus Logic from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Finally, TheStreet upgraded shares of Cirrus Logic from a “c+” rating to a “b-” rating in a research report on Tuesday, January 23rd.

Cirrus Logic Trading Down 1.9 %

Shares of NASDAQ CRUS opened at $88.57 on Friday. The firm has a 50 day moving average of $90.01 and a 200 day moving average of $82.40. The firm has a market capitalization of $4.77 billion, a price-to-earnings ratio of 28.12 and a beta of 1.00. Cirrus Logic has a 12-month low of $65.02 and a 12-month high of $95.87.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $2.53 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.83. Cirrus Logic had a net margin of 9.84% and a return on equity of 16.13%. The business had revenue of $618.98 million for the quarter, compared to the consensus estimate of $539.55 million. Sell-side analysts predict that Cirrus Logic will post 4.79 EPS for the current year.

Insider Buying and Selling

In other Cirrus Logic news, SVP Justin E. Dougherty sold 3,280 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $91.40, for a total transaction of $299,792.00. Following the transaction, the senior vice president now directly owns 6,000 shares in the company, valued at approximately $548,400. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, SVP Justin E. Dougherty sold 3,280 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $91.40, for a total value of $299,792.00. Following the sale, the senior vice president now directly owns 6,000 shares in the company, valued at approximately $548,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Andrew Brannan sold 3,250 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $94.00, for a total transaction of $305,500.00. Following the completion of the sale, the vice president now owns 6,055 shares in the company, valued at $569,170. The disclosure for this sale can be found here. Insiders have sold 7,530 shares of company stock valued at $700,292 in the last 90 days. Company 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 CRUS. Mackenzie Financial Corp raised its position in Cirrus Logic by 1.5% during the 4th quarter. Mackenzie Financial Corp now owns 2,485,746 shares of the semiconductor company’s stock worth $206,789,000 after buying an additional 35,722 shares during the last quarter. Linden Thomas Advisory Services LLC increased its holdings in shares of Cirrus Logic by 2.1% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 17,673 shares of the semiconductor company’s stock valued at $1,470,000 after purchasing an additional 363 shares in the last quarter. UBS Group AG increased its holdings in shares of Cirrus Logic by 86.9% during the 3rd quarter. UBS Group AG now owns 61,811 shares of the semiconductor company’s stock valued at $4,572,000 after purchasing an additional 28,735 shares in the last quarter. FMR LLC increased its holdings in Cirrus Logic by 4.5% in the 3rd quarter. FMR LLC now owns 7,552,630 shares of the semiconductor company’s stock worth $558,593,000 after acquiring an additional 327,269 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Cirrus Logic by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 6,299,658 shares of the semiconductor company’s stock worth $465,923,000 after acquiring an additional 105,577 shares in the last quarter. 87.96% of the stock is currently owned by institutional investors and hedge funds.

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.