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 covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $132.86.

A number of brokerages have recently issued reports on CRUS. Stifel Nicolaus dropped their price target on shares of Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Susquehanna increased their target price on Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a report on Monday, November 18th. StockNews.com raised Cirrus Logic from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Benchmark upgraded shares of Cirrus Logic from a “hold” rating to a “buy” rating and set a $125.00 target price for the company in a report on Wednesday, February 5th. Finally, Loop Capital started coverage on Cirrus Logic in a report on Tuesday, November 12th. They set a “buy” rating and a $130.00 price target on the stock.

Cirrus Logic Trading Up 2.2 %

CRUS stock opened at $109.83 on Friday. Cirrus Logic has a 12 month low of $81.30 and a 12 month high of $147.46. The stock has a market capitalization of $5.84 billion, a P/E ratio of 19.93 and a beta of 0.91. The firm has a 50-day moving average price of $103.33 and a 200-day moving average price of $114.15.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share (EPS) 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%. As a group, equities analysts predict that Cirrus Logic will post 5.63 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of Cirrus Logic stock in a transaction that occurred on 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 in the company, valued at approximately $833,000. This trade represents a 19.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.02% of the company’s stock.

Institutional Investors Weigh In On Cirrus Logic

Several hedge funds have recently added to or reduced their stakes in CRUS. Castlekeep Investment Advisors LLC purchased a new position in shares of Cirrus Logic in the 4th quarter worth about $170,796,000. Allianz Asset Management GmbH raised its holdings in Cirrus Logic by 137.2% in the fourth quarter. Allianz Asset Management GmbH now owns 1,044,880 shares of the semiconductor company’s stock worth $104,049,000 after buying an additional 604,431 shares during the last quarter. Norges Bank bought a new position in shares of Cirrus Logic in the fourth quarter worth approximately $58,723,000. Pacer Advisors Inc. grew its holdings in shares of Cirrus Logic by 44.0% during the fourth quarter. Pacer Advisors Inc. now owns 1,267,792 shares of the semiconductor company’s stock valued at $126,247,000 after buying an additional 387,346 shares during the last quarter. Finally, Deutsche Bank AG increased its position in shares of Cirrus Logic by 139.4% during the fourth quarter. Deutsche Bank AG now owns 586,733 shares of the semiconductor company’s stock valued at $58,427,000 after acquiring an additional 341,615 shares in the last quarter. 87.96% of the stock is owned by 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.