Cirrus Logic, Inc. (NASDAQ:CRUS) Stock Has Consensus Target Price of $150.71

Cirrus Logic, Inc. (NASDAQ:CRUS) has been assigned an average rating of “Hold” from the nine brokerages that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $150.71.

A number of research firms have issued reports on CRUS. KeyCorp cut shares of Cirrus Logic from an “overweight” rating to a “sector weight” rating in a report on Thursday. Wall Street Zen downgraded shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Sunday. Stifel Nicolaus dropped their price objective on shares of Cirrus Logic from $197.00 to $160.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Zacks Research lowered shares of Cirrus Logic from a “hold” rating to a “strong sell” rating in a report on Friday, August 14th. Finally, Weiss Ratings downgraded Cirrus Logic from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, October 2nd.

Cirrus Logic Stock Down 0.5%

Shares of Cirrus Logic stock opened at $107.87 on Thursday. The firm has a market capitalization of $5.41 billion, a P/E ratio of 13.20 and a beta of 1.17. The company has a 50 day moving average price of $115.69 and a 200 day moving average price of $141.53. Cirrus Logic has a 52 week low of $105.10 and a 52 week high of $180.42.

Cirrus Logic (NASDAQ:CRUS) last released its earnings results on Wednesday, August 5th. The semiconductor company reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.81 by $0.03. The company had revenue of $459.72 million during the quarter, compared to analysts’ expectations of $460.32 million. Cirrus Logic had a net margin of 21.00% and a return on equity of 20.61%. Cirrus Logic’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period last year, the business earned $1.51 EPS. As a group, research analysts anticipate that Cirrus Logic will post 7.20 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Cirrus Logic news, EVP Jeffrey Baumgartner sold 1,166 shares of the business’s stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $119.00, for a total transaction of $138,754.00. Following the sale, the executive vice president owned 12,907 shares in the company, valued at approximately $1,535,933. The trade was a 8.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 3,498 shares of company stock worth $437,786. Insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Geneos Wealth Management Inc. boosted 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 buying an additional 120 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its position in Cirrus Logic by 7,333.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 223 shares of the semiconductor company’s stock worth $26,000 after buying an additional 220 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in Cirrus Logic during the 3rd quarter valued at approximately $30,000. Elevation Wealth Partners LLC lifted its stake in Cirrus Logic by 72.5% during the 2nd quarter. Elevation Wealth Partners LLC now owns 295 shares of the semiconductor company’s stock valued at $44,000 after acquiring an additional 124 shares during the period. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Cirrus Logic in the 2nd quarter valued at $66,000. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Cirrus Logic News Summary

Here are the key news stories impacting Cirrus Logic this week:

• Positive Sentiment: GlobalFoundries plans to build two New York semiconductor fabs with up to $21 billion in Japanese-backed funding. Cirrus Logic is listed among the expected customers, alongside Apple, General Motors and Renesas, potentially improving long-term supply capacity and manufacturing visibility when the facilities begin operating in 2029. GlobalFoundries’ $21 Billion Deal Could Change the Economics of Chipmaking
• Positive Sentiment: Analysts’ average price target of approximately $150.71 remains materially above recent trading levels, suggesting potential upside if Cirrus Logic meets expectations and the company’s growth outlook improves. Nine analysts set USD 150.71 target for Cirrus Logic stock
• Neutral Sentiment: Cirrus Logic’s quarterly results previously exceeded the consensus EPS estimate, while revenue increased year over year. However, the company slightly missed the revenue forecast, leaving investors focused on forward demand and customer concentration.
• Negative Sentiment: KeyBanc downgraded Cirrus Logic from Overweight to Equal Weight/Sector Weight after its Asia trip, citing concerns related to Apple. Although the firm noted strength in memory and analog markets, the downgrade removes a bullish recommendation and likely weighs on sentiment. KeyBanc Downgrades Cirrus Logic to Sector Weight Cirrus Logic downgraded by KeyBanc on Apple concerns

Cirrus Logic Company Profile

Cirrus Logic, Inc is a fabless semiconductor company that develops high-performance, low-power analog and mixed-signal processing solutions. Its technologies are designed to capture, process, and enhance audio and other sensory signals in electronic devices.

The company’s products include audio converters, codecs, amplifiers, digital signal processors, voice-input components, and haptic and sensing solutions. These products are used in smartphones, laptops, tablets, headphones, home audio equipment, automotive systems, and other consumer and industrial applications.

Headquartered in Austin, Texas, Cirrus Logic serves customers globally through a combination of product development, engineering, sales, and support operations.