Cirrus Logic, Inc. (NASDAQ:CRUS) Given Consensus Rating of “Buy” by Analysts

Cirrus Logic, Inc. (NASDAQ:CRUS) has been assigned a consensus rating of “Buy” from the fifteen brokerages that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $104.34.

A number of equities analysts have recently issued reports on the company. Oppenheimer set a $85.79 price objective on Cirrus Logic in a research report on Saturday, July 10th. Loop Capital started coverage on Cirrus Logic in a report on Thursday, June 17th. They issued a “buy” rating and a $111.00 target price for the company. Susquehanna reiterated a “buy” rating and issued a $115.00 target price on shares of Cirrus Logic in a report on Thursday, July 29th. KeyCorp lifted their target price on Cirrus Logic from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, July 29th. Finally, Zacks Investment Research upgraded Cirrus Logic from a “sell” rating to a “hold” rating and set a $90.00 target price for the company in a report on Tuesday, July 6th.

Shares of CRUS opened at $79.04 on Thursday. Cirrus Logic has a 1 year low of $66.17 and a 1 year high of $103.25. The company has a market capitalization of $4.55 billion, a price-to-earnings ratio of 21.89, a price-to-earnings-growth ratio of 2.35 and a beta of 0.87. The business has a 50-day moving average of $82.48 and a 200-day moving average of $81.67.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Tuesday, July 27th. The semiconductor company reported $0.54 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.38. Cirrus Logic had a return on equity of 16.55% and a net margin of 15.41%. The company had revenue of $277.25 million during the quarter, compared to the consensus estimate of $260.79 million. On average, research analysts predict that Cirrus Logic will post 4.1 EPS for the current fiscal year.

In other Cirrus Logic news, Director Alan R. Schuele sold 5,000 shares of the business’s stock in a transaction on Wednesday, July 28th. The stock was sold at an average price of $83.29, for a total value of $416,450.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Alexander M. Davern sold 500 shares of the business’s stock in a transaction on Tuesday, August 10th. The stock was sold at an average price of $79.47, for a total value of $39,735.00. Following the completion of the transaction, the director now directly owns 18,575 shares in the company, valued at approximately $1,476,155.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,062 shares of company stock worth $1,385,641. 2.04% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of CRUS. IFP Advisors Inc raised its stake in shares of Cirrus Logic by 332.8% in the second quarter. IFP Advisors Inc now owns 290 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 223 shares during the period. Van ECK Associates Corp bought a new stake in shares of Cirrus Logic in the first quarter valued at $26,000. Parisi Gray Wealth Management bought a new stake in shares of Cirrus Logic in the second quarter valued at $82,000. Advisory Services Network LLC bought a new stake in shares of Cirrus Logic in the second quarter valued at $83,000. Finally, Lazard Asset Management LLC bought a new stake in shares of Cirrus Logic in the first quarter valued at $86,000. Hedge funds and other institutional investors own 84.26% of the company’s stock.

About Cirrus Logic

Cirrus Logic, Inc develops high-precision, analog and mixed-signal integrated circuits for a range of customers. It builds an analog and signal-processing patent portfolio. The firm delivers optimized products for a variety of audio, industrial and energy-related applications. Its product lines include portable audio products and non-portable audio and other products.

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Analyst Recommendations for Cirrus Logic (NASDAQ:CRUS)

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