Cirrus Logic (NASDAQ:CRUS) Given New $165.00 Price Target at Stifel Nicolaus

Cirrus Logic (NASDAQ:CRUS) had its target price boosted by Stifel Nicolaus from $110.00 to $165.00 in a research note issued to investors on Thursday morning, Benzinga reports. Stifel Nicolaus currently has a buy rating on the semiconductor company’s stock.

Other equities analysts also recently issued reports about the company. Barclays raised their price objective on Cirrus Logic from $95.00 to $110.00 and gave the stock an overweight rating in a research report on Wednesday, May 8th. Benchmark cut Cirrus Logic from a buy rating to a hold rating in a research note on Thursday, May 16th. KeyCorp raised their target price on Cirrus Logic from $120.00 to $155.00 and gave the stock an overweight rating in a research note on Tuesday, July 9th. StockNews.com raised Cirrus Logic from a buy rating to a strong-buy rating in a research note on Wednesday, July 17th. Finally, Susquehanna raised their target price on Cirrus Logic from $120.00 to $175.00 and gave the stock a positive rating in a research note on Wednesday, July 17th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Buy and a consensus price target of $128.57.

Cirrus Logic Price Performance

Shares of CRUS opened at $134.87 on Thursday. Cirrus Logic has a 1 year low of $65.02 and a 1 year high of $142.83. The company has a market capitalization of $7.21 billion, a price-to-earnings ratio of 27.36 and a beta of 0.94. The business has a 50-day moving average of $123.30 and a 200-day moving average of $100.21.

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

Insider Buying and Selling at Cirrus Logic

In other Cirrus Logic news, Director Alexander M. Davern sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The stock was 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 this hyperlink. In other Cirrus Logic news, Director Alexander M. Davern sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The stock was 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 this hyperlink. Also, SVP Scott Thomas sold 11,706 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $120.72, for a total value 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. Company insiders own 1.02% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Heron Bay Capital Management boosted its position in shares of Cirrus Logic by 1.6% during the first quarter. Heron Bay Capital Management now owns 10,672 shares of the semiconductor company’s stock valued at $988,000 after buying an additional 169 shares during the last quarter. Venturi Wealth Management LLC boosted its position in shares of Cirrus Logic by 93.7% during the fourth quarter. Venturi Wealth Management LLC now owns 368 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 178 shares during the last quarter. Cardinal Capital Management boosted its position in shares of Cirrus Logic by 1.2% during the fourth quarter. Cardinal Capital Management now owns 16,576 shares of the semiconductor company’s stock valued at $1,379,000 after buying an additional 189 shares during the last quarter. Atlas Capital Advisors LLC boosted its position in shares of Cirrus Logic by 103.0% during the first quarter. Atlas Capital Advisors LLC now owns 402 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 204 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Cirrus Logic by 79.5% during the second quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company’s stock valued at $61,000 after buying an additional 210 shares during the last quarter. Hedge funds and other institutional investors own 87.96% of the company’s stock.

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.