Cirrus Logic (NASDAQ:CRUS) Given New $105.00 Price Target at Barclays

Cirrus Logic (NASDAQ:CRUS) had its price objective decreased by Barclays from $120.00 to $105.00 in a research report report published on Tuesday, Benzinga reports. Barclays currently has an equal weight rating on the semiconductor company’s stock.

Several other equities analysts have also issued reports on CRUS. StockNews.com lowered shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. KeyCorp boosted their price objective on Cirrus Logic from $155.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Stifel Nicolaus upped their target price on Cirrus Logic from $110.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Finally, Susquehanna lowered their target price on Cirrus Logic from $160.00 to $135.00 and set a “positive” rating for the company in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $132.00.

Cirrus Logic Trading Down 7.1 %

Shares of CRUS stock opened at $102.79 on Tuesday. Cirrus Logic has a 1-year low of $69.23 and a 1-year high of $147.46. The stock has a market cap of $5.49 billion, a price-to-earnings ratio of 19.00 and a beta of 0.96. The stock has a 50-day moving average of $124.88 and a 200-day moving average of $122.24.

Cirrus Logic (NASDAQ:CRUS) last released its earnings results on Monday, November 4th. The semiconductor company reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.23. The business had revenue of $541.90 million during the quarter, compared to the consensus estimate of $520.53 million. Cirrus Logic had a net margin of 16.31% and a return on equity of 17.42%. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.43 EPS. Sell-side analysts forecast that Cirrus Logic will post 5.37 earnings per share for the current year.

Insider Buying and Selling

In other Cirrus Logic news, VP Andrew Brannan sold 4,350 shares of the firm’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 completion of the sale, the vice president now owns 4,004 shares of the company’s stock, valued at approximately $544,704.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, VP Andrew Brannan sold 4,350 shares of the stock in a transaction 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 transaction, the vice president now directly owns 4,004 shares in the company, valued at $544,704.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Justin E. Dougherty sold 10,203 shares of the business’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 sale, 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 position. The disclosure for this sale can be found here. 1.02% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cirrus Logic

Several large investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC increased its holdings in Cirrus Logic by 98.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 120 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Cirrus Logic during the third quarter valued at approximately $31,000. Versant Capital Management Inc grew its holdings in Cirrus Logic by 1,911.1% during the second quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company’s stock worth $46,000 after buying an additional 344 shares in the last quarter. GAMMA Investing LLC raised its position in Cirrus Logic by 79.5% in the 2nd 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. Finally, 1620 Investment Advisors Inc. bought a new position in Cirrus Logic during the 2nd quarter valued at $77,000. 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.