Cirrus Logic, Inc. (NASDAQ:CRUS) Receives Average Rating of “Moderate Buy” from Analysts

Cirrus Logic, Inc. (NASDAQ:CRUS) has been given an average recommendation of “Moderate Buy” by the seven brokerages that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $107.86.

Several equities analysts have recently commented on the company. KeyCorp upped their price target on Cirrus Logic from $100.00 to $120.00 and gave the company an “overweight” rating in a research note on Wednesday, May 8th. Barclays upped their price target on Cirrus Logic from $95.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, May 8th. Stifel Nicolaus upped their price target on Cirrus Logic from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Susquehanna upped their price target on Cirrus Logic from $100.00 to $120.00 and gave the company a “positive” rating in a research note on Wednesday, May 8th. Finally, Benchmark downgraded Cirrus Logic from a “buy” rating to a “hold” rating in a report on Thursday, May 16th.

Cirrus Logic Stock Performance

NASDAQ CRUS opened at $125.96 on Monday. The stock’s fifty day moving average is $106.12 and its two-hundred day moving average is $93.22. The firm has a market capitalization of $6.73 billion, a P/E ratio of 25.55 and a beta of 0.97. Cirrus Logic has a fifty-two week low of $65.02 and a fifty-two week high of $128.64.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings data on Tuesday, May 7th. The semiconductor company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.48. Cirrus Logic had a return on equity of 16.49% and a net margin of 15.35%. The company had revenue of $371.83 million for the quarter, compared to analyst estimates of $320.14 million. As a group, sell-side analysts forecast that Cirrus Logic will post 4.75 EPS for the current year.

Insiders Place Their Bets

In other Cirrus Logic news, Director Alexander M. Davern sold 1,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $115.85, for a total transaction of $115,850.00. Following the sale, the director now owns 19,332 shares in the company, valued at approximately $2,239,612.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, SVP Justin E. Dougherty sold 4,000 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $107.85, for a total value of $431,400.00. Following the completion of the sale, the senior vice president now directly owns 5,838 shares of the company’s stock, valued at approximately $629,628.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Alexander M. Davern sold 1,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $115.85, for a total value of $115,850.00. Following the completion of the sale, the director now directly owns 19,332 shares of the company’s stock, valued at $2,239,612.20. The disclosure for this sale can be found here. Insiders have sold a total of 18,706 shares of company stock worth $2,187,098 in the last quarter. 1.02% of the stock is owned by company insiders.

Institutional Trading of Cirrus Logic

A number of hedge funds have recently added to or reduced their stakes in CRUS. Charles Schwab Investment Management Inc. lifted its position in Cirrus Logic by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 554,814 shares of the semiconductor company’s stock worth $41,034,000 after acquiring an additional 20,612 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its holdings in Cirrus Logic by 41.1% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,512 shares of the semiconductor company’s stock worth $334,000 after purchasing an additional 1,314 shares during the last quarter. UBS Group AG increased its holdings in Cirrus Logic by 86.9% during the 3rd quarter. UBS Group AG now owns 61,811 shares of the semiconductor company’s stock valued at $4,572,000 after acquiring an additional 28,735 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Cirrus Logic during the 3rd quarter worth approximately $62,000. Finally, Kestra Advisory Services LLC grew its holdings in Cirrus Logic by 58.0% during the 3rd quarter. Kestra Advisory Services LLC now owns 4,035 shares of the semiconductor company’s stock valued at $298,000 after buying an additional 1,482 shares during the last quarter. 87.96% of the stock is 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.