Cirrus Logic (NASDAQ:CRUS) Given New $135.00 Price Target at Susquehanna

Cirrus Logic (NASDAQ:CRUS) had its price objective decreased by equities researchers at Susquehanna from $160.00 to $135.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “positive” rating on the semiconductor company’s stock. Susquehanna’s price objective points to a potential upside of 29.67% from the company’s current price.

A number of other brokerages have also recently issued reports on CRUS. Stifel Nicolaus upped 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. StockNews.com lowered Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. Barclays lowered Cirrus Logic from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $140.00 to $120.00 in a report on Thursday, October 10th. Finally, KeyCorp increased their price target on Cirrus Logic from $155.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $132.00.

Cirrus Logic Price Performance

NASDAQ CRUS opened at $104.11 on Tuesday. The company’s 50 day simple moving average is $124.13 and its 200 day simple moving average is $122.11. Cirrus Logic has a 12 month low of $69.23 and a 12 month high of $147.46. The company has a market capitalization of $5.56 billion, a P/E ratio of 17.65 and a beta of 0.96.

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

Insider Activity at Cirrus Logic

In related news, VP Andrew Brannan sold 4,350 shares of the company’s stock in a transaction 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 completion of the transaction, the vice president now directly owns 4,004 shares in the company, valued at $544,704.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, SVP Justin E. Dougherty sold 10,203 shares of the company’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 directly owns 4,838 shares in the company, valued at $637,212.98. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Andrew Brannan sold 4,350 shares of the company’s stock in a transaction 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 owns 4,004 shares of the company’s stock, valued at approximately $544,704.16. The trade was a 0.00 % decrease in their ownership of the stock. 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 large investors have recently bought and sold shares of CRUS. Vanguard Group Inc. increased its holdings in Cirrus Logic by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 6,363,188 shares of the semiconductor company’s stock valued at $588,977,000 after buying an additional 128,393 shares during the period. LSV Asset Management increased its holdings in Cirrus Logic by 34.6% in the 2nd quarter. LSV Asset Management now owns 1,890,493 shares of the semiconductor company’s stock valued at $241,340,000 after buying an additional 486,086 shares during the period. Earnest Partners LLC increased its holdings in Cirrus Logic by 3.0% in the 2nd quarter. Earnest Partners LLC now owns 1,358,140 shares of the semiconductor company’s stock valued at $173,380,000 after buying an additional 39,759 shares during the period. Sei Investments Co. increased its holdings in Cirrus Logic by 8.6% in the 2nd quarter. Sei Investments Co. now owns 756,585 shares of the semiconductor company’s stock valued at $96,587,000 after buying an additional 59,690 shares during the period. Finally, Pacer Advisors Inc. increased its holdings in Cirrus Logic by 8,183.4% in the 2nd quarter. Pacer Advisors Inc. now owns 665,320 shares of the semiconductor company’s stock valued at $84,935,000 after buying an additional 657,288 shares during the period. 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.