Barclays Forecasts Strong Price Appreciation for Cirrus Logic (NASDAQ:CRUS) Stock

Cirrus Logic (NASDAQ:CRUS) had its price objective increased by stock analysts at Barclays from $105.00 to $115.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the semiconductor company’s stock. Barclays‘s price objective points to a potential upside of 10.14% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. StockNews.com raised Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Loop Capital assumed coverage on Cirrus Logic in a research note on Tuesday, November 12th. They issued a “buy” rating and a $130.00 target price on the stock. Susquehanna lifted their target price on Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a research note on Monday, November 18th. Finally, Stifel Nicolaus decreased their price target on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Cirrus Logic currently has an average rating of “Moderate Buy” and an average target price of $132.86.

Cirrus Logic Trading Down 4.5 %

NASDAQ CRUS opened at $104.41 on Wednesday. The stock has a fifty day simple moving average of $102.49 and a 200-day simple moving average of $116.08. Cirrus Logic has a twelve month low of $81.30 and a twelve month high of $147.46. The stock has a market cap of $5.55 billion, a PE ratio of 17.70 and a beta of 0.91.

Cirrus Logic (NASDAQ:CRUS) last announced its earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 EPS for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.21). Cirrus Logic had a net margin of 17.19% and a return on equity of 18.15%. Research analysts predict that Cirrus Logic will post 5.21 EPS for the current year.

Insider Transactions at Cirrus Logic

In related news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $100.00, for a total value of $205,100.00. Following the completion of the transaction, the executive vice president now directly owns 8,330 shares in the company, valued at approximately $833,000. This represents a 19.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.02% of the company’s stock.

Hedge Funds Weigh In On Cirrus Logic

Several institutional investors have recently added to or reduced their stakes in CRUS. Stonegate Investment Group LLC grew its position in Cirrus Logic by 5.3% during the third quarter. Stonegate Investment Group LLC now owns 1,776 shares of the semiconductor company’s stock valued at $221,000 after acquiring an additional 90 shares during the period. Atria Investments Inc boosted its holdings in Cirrus Logic by 2.9% in the third quarter. Atria Investments Inc now owns 3,596 shares of the semiconductor company’s stock valued at $447,000 after purchasing an additional 101 shares during the last quarter. Arizona State Retirement System boosted its holdings in Cirrus Logic by 0.7% in the fourth quarter. Arizona State Retirement System now owns 15,492 shares of the semiconductor company’s stock valued at $1,543,000 after purchasing an additional 101 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in Cirrus Logic by 98.4% during the third quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 120 shares in the last quarter. Finally, Captrust Financial Advisors raised its stake in Cirrus Logic by 5.3% during the third quarter. Captrust Financial Advisors now owns 2,838 shares of the semiconductor company’s stock valued at $353,000 after buying an additional 142 shares in the last quarter. 87.96% of the stock is currently owned by institutional investors and hedge funds.

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.