Stifel Nicolaus Has Lowered Expectations for Cirrus Logic (NASDAQ:CRUS) Stock Price

Cirrus Logic (NASDAQ:CRUS) had its target price cut by Stifel Nicolaus from $165.00 to $140.00 in a research report released on Tuesday,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

Several other brokerages also recently commented on CRUS. Susquehanna dropped their price objective on Cirrus Logic from $160.00 to $135.00 and set a “positive” rating on the stock in a research note on Tuesday. Barclays lowered their price target on shares of Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Tuesday. KeyCorp increased their price target on Cirrus Logic from $155.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Finally, StockNews.com cut Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $132.00.

Cirrus Logic Stock Up 0.2 %

CRUS stock opened at $103.71 on Tuesday. Cirrus Logic has a twelve month low of $69.23 and a twelve month high of $147.46. The company has a market cap of $5.54 billion, a P/E ratio of 17.58 and a beta of 0.96. The business has a fifty day moving average of $122.47 and a 200-day moving average of $122.12.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings data on Monday, November 4th. The semiconductor company reported $2.25 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.23. The firm had revenue of $541.90 million during the quarter, compared to analysts’ expectations of $520.53 million. Cirrus Logic had a return on equity of 18.42% and a net margin of 17.19%. The company’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.43 EPS. As a group, equities research analysts anticipate that Cirrus Logic will post 5.37 earnings per share for the current fiscal year.

Insider Activity

In other Cirrus Logic 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 sale, the vice president now owns 4,004 shares in the company, valued at $544,704.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.02% of the stock is owned by company insiders.

Institutional Trading of Cirrus Logic

Several large investors have recently modified their holdings of CRUS. Pacer Advisors Inc. grew its holdings in shares of Cirrus Logic by 8,183.4% during the 2nd quarter. Pacer Advisors Inc. now owns 665,320 shares of the semiconductor company’s stock worth $84,935,000 after purchasing an additional 657,288 shares in the last quarter. LSV Asset Management lifted its position in shares of Cirrus Logic by 34.6% during the 2nd quarter. LSV Asset Management now owns 1,890,493 shares of the semiconductor company’s stock worth $241,340,000 after buying an additional 486,086 shares during the last quarter. Acadian Asset Management LLC lifted its position in shares of Cirrus Logic by 68.6% during the 1st quarter. Acadian Asset Management LLC now owns 460,681 shares of the semiconductor company’s stock worth $42,619,000 after buying an additional 187,438 shares during the last quarter. DNB Asset Management AS bought a new stake in shares of Cirrus Logic during the 2nd quarter worth $23,250,000. Finally, Vanguard Group Inc. lifted its position in shares of Cirrus Logic by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 6,363,188 shares of the semiconductor company’s stock worth $588,977,000 after buying an additional 128,393 shares during the last quarter. 87.96% of the stock is 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.