Cirrus Logic, Inc. (NASDAQ:CRUS) Receives $132.86 Average PT from Brokerages

Cirrus Logic, Inc. (NASDAQ:CRUS) has been given a consensus recommendation of “Moderate Buy” by the seven analysts that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $132.86.

CRUS has been the subject of a number of recent research reports. Barclays lifted their price objective on shares of Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. Benchmark reissued a “buy” rating and issued a $125.00 price objective on shares of Cirrus Logic in a research note on Wednesday, March 19th. Finally, StockNews.com raised shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd.

Cirrus Logic Stock Performance

CRUS opened at $99.79 on Wednesday. The stock has a market capitalization of $5.30 billion, a price-to-earnings ratio of 18.11 and a beta of 0.89. The company has a fifty day moving average of $103.35 and a 200 day moving average of $109.30. Cirrus Logic has a fifty-two week low of $81.30 and a fifty-two week high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last posted its earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share for the quarter, missing the consensus estimate of $2.36 by ($0.21). Cirrus Logic had a net margin of 16.55% and a return on equity of 16.60%. On average, equities research analysts forecast that Cirrus Logic will post 5.63 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Jeffrey W. Baumgartner sold 2,051 shares of Cirrus Logic stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $100.00, for a total transaction of $205,100.00. Following the completion of the transaction, the executive vice president now directly owns 8,330 shares of the company’s stock, valued at approximately $833,000. The trade was a 19.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.02% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cirrus Logic

A number of large investors have recently made changes to their positions in CRUS. Atria Investments Inc boosted its stake in shares of Cirrus Logic by 2.9% during the 3rd quarter. Atria Investments Inc now owns 3,596 shares of the semiconductor company’s stock worth $447,000 after purchasing an additional 101 shares during the period. Sumitomo Mitsui Trust Group Inc. purchased a new stake in Cirrus Logic in the 3rd quarter valued at about $415,000. Victory Capital Management Inc. boosted its position in Cirrus Logic by 165.6% in the 3rd quarter. Victory Capital Management Inc. now owns 44,681 shares of the semiconductor company’s stock valued at $5,550,000 after buying an additional 27,856 shares during the period. Huntington National Bank boosted its position in Cirrus Logic by 10,500.0% in the 3rd quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 210 shares during the period. Finally, Natixis Advisors LLC boosted its position in Cirrus Logic by 11.6% in the 3rd quarter. Natixis Advisors LLC now owns 101,506 shares of the semiconductor company’s stock valued at $12,608,000 after buying an additional 10,579 shares during the period. 87.96% of the stock is 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.