Cirrus Logic (NASDAQ:CRUS) Sets New 1-Year High at $127.10

Cirrus Logic, Inc. (NASDAQ:CRUS) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $127.10 and last traded at $127.09, with a volume of 19291 shares. The stock had previously closed at $125.51.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CRUS shares. Barclays increased their price target on shares of Cirrus Logic from $95.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. Susquehanna upped their price objective on shares of Cirrus Logic from $100.00 to $120.00 and gave the stock a “positive” rating in a research report on Wednesday, May 8th. KeyCorp upped their price objective on shares of Cirrus Logic from $100.00 to $120.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. Stifel Nicolaus upped their price objective on shares of Cirrus Logic from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Finally, Benchmark cut shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Thursday, May 16th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $107.86.

Cirrus Logic Stock Up 1.3 %

The stock’s 50-day moving average price is $104.69 and its 200 day moving average price is $92.44. The firm has a market capitalization of $6.80 billion, a price-to-earnings ratio of 25.79 and a beta of 0.97.

Cirrus Logic (NASDAQ:CRUS) last issued its earnings results on Tuesday, May 7th. The semiconductor company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.48. The business had revenue of $371.83 million during the quarter, compared to analysts’ expectations of $320.14 million. Cirrus Logic had a net margin of 15.35% and a return on equity of 16.49%. On average, sell-side analysts anticipate that Cirrus Logic, Inc. will post 4.75 earnings per share for the current year.

Insider Activity at Cirrus Logic

In related news, Director Alexander M. Davern sold 1,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $115.85, for a total value of $115,850.00. Following the completion of the sale, the director now owns 19,332 shares of the company’s stock, valued at $2,239,612.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Alexander M. Davern sold 1,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $115.85, for a total value of $115,850.00. Following the completion of the sale, the director now owns 19,332 shares of the company’s stock, valued at $2,239,612.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Scott Thomas sold 11,706 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $120.72, for a total transaction of $1,413,148.32. Following the completion of the sale, the senior vice president now directly owns 23,975 shares of the company’s stock, valued at approximately $2,894,262. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,706 shares of company stock valued at $2,187,098. 1.02% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cirrus Logic

A number of hedge funds have recently modified their holdings of the company. Venturi Wealth Management LLC boosted its stake in Cirrus Logic by 93.7% during the fourth quarter. Venturi Wealth Management LLC now owns 368 shares of the semiconductor company’s stock worth $31,000 after buying an additional 178 shares during the period. Atlas Capital Advisors LLC boosted its stake in Cirrus Logic by 103.0% during the first quarter. Atlas Capital Advisors LLC now owns 402 shares of the semiconductor company’s stock worth $37,000 after buying an additional 204 shares during the period. Quadrant Capital Group LLC boosted its stake in Cirrus Logic by 72.3% during the fourth quarter. Quadrant Capital Group LLC now owns 510 shares of the semiconductor company’s stock worth $42,000 after buying an additional 214 shares during the period. DekaBank Deutsche Girozentrale purchased a new position in Cirrus Logic during the third quarter worth about $62,000. Finally, Disciplined Equity Management Inc. purchased a new position in Cirrus Logic during the fourth quarter worth about $83,000. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Cirrus Logic Company Profile

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 amplifiers; 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 integrated digital signal processing; 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 for use in smartphones, tablets, laptops, AR/VR headsets, home theater systems, automotive entertainment systems, and professional audio systems.