Cirrus Logic (CRUS) – Research Analysts’ Recent Ratings Changes

A number of research firms have changed their ratings and price targets for Cirrus Logic (NASDAQ: CRUS):

• 7/18/2024 – Cirrus Logic had its price target raised by analysts at Stifel Nicolaus from $110.00 to $165.00. They now have a “buy” rating on the stock.
• 7/17/2024 – Cirrus Logic was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
• 7/17/2024 – Cirrus Logic had its price target raised by analysts at Susquehanna from $120.00 to $175.00. They now have a “positive” rating on the stock.
• 7/9/2024 – Cirrus Logic had its price target raised by analysts at KeyCorp from $120.00 to $155.00. They now have an “overweight” rating on the stock.
• 7/2/2024 – Cirrus Logic was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
• 6/20/2024 – Cirrus Logic was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
• 6/11/2024 – Cirrus Logic was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.

Cirrus Logic Stock Down 0.4 %

Shares of NASDAQ CRUS traded down $0.49 during midday trading on Tuesday, reaching $137.90. 204,246 shares of the stock were exchanged, compared to its average volume of 452,026. The firm has a 50-day simple moving average of $123.92 and a two-hundred day simple moving average of $100.64. Cirrus Logic, Inc. has a twelve month low of $65.02 and a twelve month high of $142.83. The firm has a market cap of $7.37 billion, a price-to-earnings ratio of 27.97 and a beta of 0.94.

Cirrus Logic (NASDAQ:CRUS) last issued 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 net margin of 15.35% and a return on equity of 16.49%. The business had revenue of $371.83 million during the quarter, compared to the consensus estimate of $320.14 million. Research analysts expect that Cirrus Logic, Inc. will post 4.75 EPS for the current fiscal year.

Insider Activity at Cirrus Logic

In other Cirrus Logic news, SVP Scott Thomas sold 11,706 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $120.72, for a total transaction of $1,413,148.32. Following the transaction, the senior vice president now directly owns 23,975 shares of the company’s stock, valued at $2,894,262. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Cirrus Logic news, Director Alexander M. Davern sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $115.85, for a total transaction of $115,850.00. Following the completion of the sale, the director now directly owns 19,332 shares in the company, valued at approximately $2,239,612.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Scott Thomas sold 11,706 shares of Cirrus Logic stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $120.72, for a total value of $1,413,148.32. Following the completion of the sale, the senior vice president now directly owns 23,975 shares in the company, valued at $2,894,262. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,706 shares of company stock valued at $2,187,098. 1.02% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cirrus Logic

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mackenzie Financial Corp lifted its stake in shares of Cirrus Logic by 1.5% in the fourth quarter. Mackenzie Financial Corp now owns 2,485,746 shares of the semiconductor company’s stock worth $206,789,000 after buying an additional 35,722 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of Cirrus Logic by 30.8% during the 4th quarter. Sei Investments Co. now owns 653,998 shares of the semiconductor company’s stock worth $54,406,000 after purchasing an additional 153,946 shares during the last quarter. Natixis Advisors L.P. grew its position in shares of Cirrus Logic by 24.5% in the fourth quarter. Natixis Advisors L.P. now owns 62,823 shares of the semiconductor company’s stock valued at $5,226,000 after purchasing an additional 12,377 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Cirrus Logic by 51.5% in the fourth quarter. BNP Paribas Financial Markets now owns 62,872 shares of the semiconductor company’s stock valued at $5,230,000 after purchasing an additional 21,381 shares during the last quarter. Finally, Kodai Capital Management LP purchased a new position in Cirrus Logic during the fourth quarter worth approximately $27,072,000. Institutional investors and hedge funds own 87.96% of the company’s stock.

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.