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

Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) have earned an average rating of “Moderate Buy” from the seven ratings firms that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $140.00.

A number of equities research analysts recently commented on the stock. KeyCorp increased their target price on shares of Cirrus Logic from $155.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. StockNews.com lowered Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 9th. Stifel Nicolaus increased their price target on Cirrus Logic from $110.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Susquehanna boosted their price target on Cirrus Logic from $120.00 to $175.00 and gave the stock a “positive” rating in a research note on Wednesday, July 17th. Finally, Barclays lowered shares of Cirrus Logic from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $140.00 to $120.00 in a research report on Thursday, October 10th.

Cirrus Logic Trading Up 1.6 %

Shares of NASDAQ CRUS opened at $124.83 on Friday. Cirrus Logic has a 12-month low of $65.02 and a 12-month high of $147.46. The stock’s fifty day simple moving average is $130.45 and its two-hundred day simple moving average is $119.63. The stock has a market capitalization of $6.67 billion, a PE ratio of 25.32 and a beta of 0.96.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Tuesday, August 6th. The semiconductor company reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.50. The company had revenue of $374.03 million for the quarter, compared to the consensus estimate of $318.41 million. Cirrus Logic had a return on equity of 17.42% and a net margin of 16.31%. The firm’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.35 earnings per share. On average, equities analysts predict that Cirrus Logic will post 5.26 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Justin E. Dougherty sold 10,203 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $131.71, for a total transaction of $1,343,837.13. Following the completion of the transaction, the senior vice president now owns 4,838 shares of the company’s stock, valued at $637,212.98. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Cirrus Logic news, VP Andrew Brannan sold 4,350 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $136.04, for a total value of $591,774.00. Following the sale, the vice president now owns 4,004 shares in the company, valued at approximately $544,704.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Justin E. Dougherty sold 10,203 shares of Cirrus Logic stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $131.71, for a total transaction of $1,343,837.13. Following the transaction, the senior vice president now directly owns 4,838 shares of the company’s stock, valued at approximately $637,212.98. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.02% of the company’s stock.

Institutional Investors Weigh In On Cirrus Logic

A number of institutional investors have recently modified their holdings of CRUS. Stonegate Investment Group LLC raised its position in shares of Cirrus Logic by 5.3% during the 3rd quarter. Stonegate Investment Group LLC now owns 1,776 shares of the semiconductor company’s stock worth $221,000 after purchasing an additional 90 shares during the last quarter. Profund Advisors LLC lifted its position in shares of Cirrus Logic by 2.0% in the second quarter. Profund Advisors LLC now owns 5,271 shares of the semiconductor company’s stock valued at $673,000 after acquiring an additional 103 shares in the last quarter. Arkadios Wealth Advisors boosted its stake in shares of Cirrus Logic by 2.8% in the second quarter. Arkadios Wealth Advisors now owns 4,413 shares of the semiconductor company’s stock worth $563,000 after acquiring an additional 119 shares during the last quarter. Oak Associates Ltd. OH increased its position in shares of Cirrus Logic by 0.4% during the second quarter. Oak Associates Ltd. OH now owns 34,176 shares of the semiconductor company’s stock worth $4,363,000 after purchasing an additional 134 shares in the last quarter. Finally, Holderness Investments Co. raised its stake in Cirrus Logic by 0.3% in the 2nd quarter. Holderness Investments Co. now owns 47,366 shares of the semiconductor company’s stock valued at $6,047,000 after purchasing an additional 155 shares during 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 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.