Cirrus Logic, Inc. (NASDAQ:CRUS) Receives $161.71 Average Price Target from Analysts

Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) have earned a consensus recommendation of “Moderate Buy” from the nine analysts that are currently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $161.7143.

A number of analysts have recently issued reports on CRUS shares. Stifel Nicolaus set a $197.00 price target on Cirrus Logic in a research report on Thursday, May 7th. Weiss Ratings restated a “hold (c+)” rating on shares of Cirrus Logic in a research report on Friday, March 27th. Jefferies Financial Group upgraded Cirrus Logic to a “buy” rating in a research report on Thursday, June 4th. Barclays boosted their target price on Cirrus Logic from $120.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 7th. Finally, KeyCorp boosted their target price on Cirrus Logic from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th.

Insider Buying and Selling

In related news, EVP Justin E. Dougherty sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $166.50, for a total value of $333,000.00. Following the completion of the sale, the executive vice president owned 4,537 shares in the company, valued at $755,410.50. The trade was a 30.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO John Forsyth sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $170.41, for a total value of $852,050.00. Following the completion of the sale, the chief executive officer owned 70,016 shares of the company’s stock, valued at $11,931,426.56. The trade was a 6.67% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 23,149 shares of company stock worth $3,828,401 over the last ninety days. Corporate insiders own 1.20% of the company’s stock.

Institutional Trading of Cirrus Logic

Several hedge funds and other institutional investors have recently bought and sold shares of CRUS. Caitong International Asset Management Co. Ltd lifted its position in Cirrus Logic by 7,333.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 223 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 220 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in Cirrus Logic by 120.0% in the first quarter. Geneos Wealth Management Inc. now owns 220 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 120 shares during the last quarter. Kohmann Bosshard Financial Services LLC bought a new stake in Cirrus Logic in the fourth quarter valued at approximately $33,000. Torren Management LLC bought a new stake in Cirrus Logic in the fourth quarter valued at approximately $35,000. Finally, Kestra Advisory Services LLC bought a new stake in Cirrus Logic in the fourth quarter valued at approximately $36,000. Institutional investors own 87.96% of the company’s stock.

Cirrus Logic Trading Down 3.1%

Shares of CRUS opened at $160.76 on Friday. The company has a market cap of $8.11 billion, a PE ratio of 20.51 and a beta of 1.15. The stock has a 50-day moving average price of $165.89 and a 200-day moving average price of $143.45. Cirrus Logic has a 12-month low of $92.02 and a 12-month high of $180.42.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings results on Wednesday, May 6th. The semiconductor company reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.19. The firm had revenue of $448.52 million during the quarter, compared to the consensus estimate of $442.26 million. Cirrus Logic had a return on equity of 20.48% and a net margin of 20.75%.The company’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the company posted $1.67 EPS. As a group, analysts predict that Cirrus Logic will post 8.05 earnings per share for the current year.

About Cirrus Logic

Cirrus Logic, Inc, headquartered in Austin, Texas, is a fabless semiconductor company specializing in high-precision analog and mixed-signal processing solutions. The firm develops low-power, high-performance audio, voice, and power management integrated circuits, serving prominent consumer electronics OEMs. Its semiconductor devices are designed to enhance audio quality, battery life, and system integration in mobile phones, tablets, wireless headsets and other portable devices.

The company’s product portfolio includes digital-to-analog converters (DACs), analog-to-digital converters (ADCs), audio codecs, power management ICs, voice processors and integrated amplifiers.