Analysts Set Cirrus Logic, Inc. (NASDAQ:CRUS) Price Target at $140.00

Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) have been given an average rating of “Moderate Buy” by the seven research firms that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $137.50.

A number of research firms recently weighed in on CRUS. StockNews.com lowered shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 9th. Stifel Nicolaus raised their price objective on shares of Cirrus Logic from $110.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Barclays downgraded shares of Cirrus Logic from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $140.00 to $120.00 in a report on Thursday, October 10th. Susquehanna decreased their price objective on shares of Cirrus Logic from $175.00 to $160.00 and set a “positive” rating for the company in a report on Monday. Finally, KeyCorp raised their price objective on shares of Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th.

Insider Transactions at Cirrus Logic

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

Hedge Funds Weigh In On Cirrus Logic

Several hedge funds have recently bought and sold shares of CRUS. Vanguard Group Inc. lifted its position in Cirrus Logic by 2.1% during the first quarter. Vanguard Group Inc. now owns 6,363,188 shares of the semiconductor company’s stock valued at $588,977,000 after purchasing an additional 128,393 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in Cirrus Logic by 13.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 48,030 shares of the semiconductor company’s stock valued at $4,446,000 after purchasing an additional 5,645 shares during the last quarter. Susquehanna Fundamental Investments LLC lifted its position in Cirrus Logic by 741.0% during the second quarter. Susquehanna Fundamental Investments LLC now owns 27,754 shares of the semiconductor company’s stock valued at $3,543,000 after purchasing an additional 24,454 shares during the last quarter. Sei Investments Co. lifted its position in Cirrus Logic by 6.6% during the first quarter. Sei Investments Co. now owns 696,895 shares of the semiconductor company’s stock valued at $64,505,000 after purchasing an additional 42,897 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Cirrus Logic by 52.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 961 shares of the semiconductor company’s stock valued at $123,000 after purchasing an additional 329 shares during the last quarter. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Cirrus Logic Price Performance

CRUS opened at $120.70 on Friday. The company’s 50-day moving average is $129.27 and its 200 day moving average is $120.29. Cirrus Logic has a fifty-two week low of $65.02 and a fifty-two week high of $147.46. The firm has a market capitalization of $6.45 billion, a P/E ratio of 24.48 and a beta of 0.96.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results 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. Cirrus Logic had a net margin of 16.31% and a return on equity of 17.42%. The company had revenue of $374.03 million for the quarter, compared to analyst estimates of $318.41 million. During the same period last year, the firm earned $0.35 earnings per share. The firm’s revenue was up 18.0% on a year-over-year basis. On average, equities research analysts expect that Cirrus Logic will post 5.26 earnings per share for the current year.

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.