Susquehanna Lowers Cirrus Logic (NASDAQ:CRUS) Price Target to $135.00

Cirrus Logic (NASDAQ:CRUS) had its price target reduced by Susquehanna from $160.00 to $135.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have a positive rating on the semiconductor company’s stock.

A number of other research analysts have also issued reports on CRUS. Stifel Nicolaus boosted 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. KeyCorp increased their price target on Cirrus Logic from $155.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. StockNews.com lowered shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. Finally, Barclays downgraded shares of Cirrus Logic from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $140.00 to $120.00 in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Cirrus Logic has a consensus rating of “Moderate Buy” and a consensus target price of $132.00.

Cirrus Logic Trading Down 7.1 %

Shares of NASDAQ CRUS opened at $102.79 on Tuesday. Cirrus Logic has a 12-month low of $69.23 and a 12-month high of $147.46. The company has a market cap of $5.49 billion, a price-to-earnings ratio of 19.00 and a beta of 0.96. The stock’s 50 day simple moving average is $124.88 and its 200 day simple moving average is $122.24.

Cirrus Logic (NASDAQ:CRUS) last posted its earnings results on Monday, November 4th. The semiconductor company reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.23. Cirrus Logic had a return on equity of 17.42% and a net margin of 16.31%. The company had revenue of $541.90 million for the quarter, compared to analysts’ expectations of $520.53 million. During the same period last year, the business posted $1.43 earnings per share. The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. As a group, equities analysts forecast that Cirrus Logic will post 5.37 earnings per share for the current fiscal year.

Insider Activity at Cirrus Logic

In other Cirrus Logic news, SVP Justin E. Dougherty sold 10,203 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $131.71, for a total transaction of $1,343,837.13. Following the transaction, the senior vice president now directly owns 4,838 shares of the company’s stock, valued at $637,212.98. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, VP Andrew Brannan sold 4,350 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $136.04, for a total value of $591,774.00. Following the sale, the vice president now directly owns 4,004 shares of the company’s stock, valued at approximately $544,704.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Justin E. Dougherty sold 10,203 shares of Cirrus Logic stock in a transaction dated 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 completion of the transaction, the senior vice president now owns 4,838 shares in the company, valued at $637,212.98. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.02% of the company’s stock.

Institutional Trading of Cirrus Logic

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRUS. Vanguard Group Inc. lifted its position in Cirrus Logic by 2.1% in the first quarter. Vanguard Group Inc. now owns 6,363,188 shares of the semiconductor company’s stock worth $588,977,000 after purchasing an additional 128,393 shares during the period. LSV Asset Management increased its stake in Cirrus Logic by 34.6% in the second quarter. LSV Asset Management now owns 1,890,493 shares of the semiconductor company’s stock valued at $241,340,000 after acquiring an additional 486,086 shares during the period. Earnest Partners LLC raised its position in Cirrus Logic by 3.0% in the second quarter. Earnest Partners LLC now owns 1,358,140 shares of the semiconductor company’s stock worth $173,380,000 after purchasing an additional 39,759 shares in the last quarter. Sei Investments Co. lifted its stake in Cirrus Logic by 8.6% during the second quarter. Sei Investments Co. now owns 756,585 shares of the semiconductor company’s stock worth $96,587,000 after purchasing an additional 59,690 shares during the period. Finally, Pacer Advisors Inc. boosted its stake in Cirrus Logic by 8,183.4% in the 2nd quarter. Pacer Advisors Inc. now owns 665,320 shares of the semiconductor company’s stock valued at $84,935,000 after buying an additional 657,288 shares in the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

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.