Cirrus Logic, Inc. (NASDAQ:CRUS) Receives $132.86 Consensus Target Price from Analysts

Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) have been given a consensus rating of “Moderate Buy” by the seven analysts that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $132.86.

Several research analysts recently issued reports on CRUS shares. Barclays increased their price target on shares of Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. Benchmark reiterated a “buy” rating and set a $125.00 price objective on shares of Cirrus Logic in a research note on Wednesday, March 19th. Finally, StockNews.com upgraded shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd.

Cirrus Logic Stock Up 0.1 %

Shares of CRUS opened at $102.66 on Wednesday. The stock’s 50-day moving average price is $103.43 and its 200 day moving average price is $108.84. Cirrus Logic has a 12-month low of $81.30 and a 12-month high of $147.46. The firm has a market capitalization of $5.46 billion, a price-to-earnings ratio of 18.63 and a beta of 0.89.

Cirrus Logic (NASDAQ:CRUS) last issued its earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 EPS for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.21). Cirrus Logic had a net margin of 16.55% and a return on equity of 16.60%. Equities research analysts expect that Cirrus Logic will post 5.63 EPS for the current year.

Insider Transactions at Cirrus Logic

In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $100.00, for a total transaction of $205,100.00. Following the transaction, the executive vice president now owns 8,330 shares of the company’s stock, valued at $833,000. This represents a 19.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.02% of the stock is owned by company insiders.

Institutional Trading of Cirrus Logic

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Huntington National Bank grew its position in shares of Cirrus Logic by 10,500.0% during the 3rd quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock worth $26,000 after buying an additional 210 shares during the period. Kohmann Bosshard Financial Services LLC acquired a new stake in Cirrus Logic during the 4th quarter worth $28,000. Westside Investment Management Inc. bought a new stake in shares of Cirrus Logic during the 3rd quarter valued at $35,000. Headlands Technologies LLC acquired a new position in shares of Cirrus Logic in the 4th quarter valued at $39,000. Finally, Sound Income Strategies LLC bought a new position in shares of Cirrus Logic in the 4th quarter worth $46,000. 87.96% of the stock is owned by institutional investors.

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.