Cirrus Logic, Inc. (NASDAQ:CRUS) Receives Average Recommendation of “Moderate Buy” from Analysts

Cirrus Logic, Inc. (NASDAQ:CRUS) has been given a consensus recommendation of “Moderate Buy” by the eight research firms that are currently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $161.7143.

Several analysts have commented on the stock. Benchmark raised their target price on shares of Cirrus Logic from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, February 4th. Weiss Ratings restated a “hold (c+)” rating on shares of Cirrus Logic in a report on Friday, March 27th. Barclays raised their target price on shares of Cirrus Logic from $120.00 to $140.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. Stifel Nicolaus set a $197.00 target price on shares of Cirrus Logic in a report on Thursday, May 7th. Finally, Loop Capital downgraded shares of Cirrus Logic from a “buy” rating to a “hold” rating and set a $130.00 target price on the stock. in a report on Monday, February 2nd.

Insider Transactions at Cirrus Logic

In other news, Director Alexander M. Davern sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $159.00, for a total transaction of $159,000.00. Following the completion of the transaction, the director directly owned 20,531 shares of the company’s stock, valued at $3,264,429. This trade represents a 4.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott Thomas sold 9,942 shares of the firm’s stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $160.11, for a total transaction of $1,591,813.62. Following the transaction, the executive vice president directly owned 30,393 shares of the company’s stock, valued at $4,866,223.23. This represents a 24.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 15,942 shares of company stock valued at $2,602,864 in the last ninety days. 1.16% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cirrus Logic

Hedge funds have recently made changes to their positions in the business. Thrivent Financial for Lutherans grew its stake in shares of Cirrus Logic by 102.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 25,341 shares of the semiconductor company’s stock worth $3,175,000 after acquiring an additional 12,828 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its stake in shares of Cirrus Logic by 9.8% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 129,880 shares of the semiconductor company’s stock valued at $15,391,000 after buying an additional 11,607 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in shares of Cirrus Logic by 546.3% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 388,225 shares of the semiconductor company’s stock valued at $46,005,000 after buying an additional 328,159 shares in the last quarter. Lecap Asset Management Ltd. bought a new position in shares of Cirrus Logic in the fourth quarter valued at $888,000. Finally, First Trust Advisors LP grew its stake in shares of Cirrus Logic by 8.2% in the third quarter. First Trust Advisors LP now owns 308,735 shares of the semiconductor company’s stock valued at $38,681,000 after buying an additional 23,440 shares in the last quarter. 87.96% of the stock is owned by institutional investors.

Cirrus Logic Stock Performance

Shares of CRUS stock opened at $171.17 on Monday. The company has a market capitalization of $8.73 billion, a P/E ratio of 21.83 and a beta of 1.16. The company’s 50 day moving average price is $156.25 and its two-hundred day moving average price is $137.44. Cirrus Logic has a 52 week low of $92.02 and a 52 week high of $179.00.

Cirrus Logic (NASDAQ:CRUS) last announced its earnings results on Wednesday, May 6th. The semiconductor company reported $1.95 EPS for the quarter, topping the consensus estimate of $1.76 by $0.19. The firm had revenue of $448.52 million for the quarter, compared to the consensus estimate of $442.26 million. Cirrus Logic had a net margin of 20.75% and a return on equity of 20.48%. The business’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period last year, the company posted $1.67 EPS. Analysts forecast that Cirrus Logic will post 8.01 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.