Cirrus Logic, Inc. (NASDAQ:CRUS) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Cirrus Logic, Inc. (NASDAQ:CRUS) has earned an average rating of “Moderate Buy” from the seven brokerages that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $143.33.

CRUS has been the topic of several research analyst reports. Barclays lifted their price target on Cirrus Logic from $110.00 to $140.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. KeyCorp lifted their price target on Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. StockNews.com raised Cirrus Logic from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Susquehanna lifted their price target on Cirrus Logic from $120.00 to $175.00 and gave the stock a “positive” rating in a research report on Wednesday, July 17th. Finally, Stifel Nicolaus lifted their price target on Cirrus Logic from $110.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th.

Cirrus Logic Stock Performance

Shares of NASDAQ CRUS opened at $119.02 on Wednesday. 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 $6.36 billion, a PE ratio of 24.14 and a beta of 0.97. The stock’s 50-day simple moving average is $131.56 and its 200-day simple moving average is $117.06.

Cirrus Logic (NASDAQ:CRUS) last issued its earnings results on Tuesday, August 6th. The semiconductor company reported $1.12 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.50. The business had revenue of $374.03 million for the quarter, compared to analyst estimates of $318.41 million. Cirrus Logic had a return on equity of 17.42% and a net margin of 16.31%. The business’s quarterly revenue was up 18.0% on a year-over-year basis. During the same quarter last year, the company earned $0.35 EPS. On average, sell-side analysts forecast that Cirrus Logic will post 5.26 earnings per share for the current fiscal year.

Insider Buying and Selling at Cirrus Logic

In related news, SVP Justin E. Dougherty sold 10,203 shares of Cirrus Logic stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $131.71, for a total value of $1,343,837.13. Following the sale, the senior vice president now directly owns 4,838 shares in the company, valued at $637,212.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, SVP Justin E. Dougherty sold 10,203 shares of Cirrus Logic stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $131.71, for a total value of $1,343,837.13. Following the sale, the senior vice president now directly owns 4,838 shares in the company, valued at $637,212.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Andrew Brannan sold 4,350 shares of Cirrus Logic stock in a transaction that occurred on 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 disclosure for this sale can be found here. Company insiders own 1.02% of the company’s stock.

Institutional Trading of Cirrus Logic

A number of institutional investors have recently modified their holdings of CRUS. Atlas Capital Advisors LLC boosted its position in Cirrus Logic by 103.0% during the first quarter. Atlas Capital Advisors LLC now owns 402 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 204 shares in the last quarter. Quadrant Capital Group LLC boosted its position in Cirrus Logic by 72.3% during the fourth quarter. Quadrant Capital Group LLC now owns 510 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 214 shares in the last quarter. Versant Capital Management Inc boosted its position 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 purchasing an additional 344 shares in the last quarter. GAMMA Investing LLC boosted its position in Cirrus Logic by 79.5% during the second quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company’s stock worth $61,000 after purchasing an additional 210 shares in the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new stake in Cirrus Logic during the second quarter worth $77,000. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

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.