Cirrus Logic, Inc. (NASDAQ:CRUS) Stock Has Average Price Target of $147.50

Cirrus Logic, Inc. (NASDAQ:CRUS) has earned an average recommendation of “Hold” from the nine research firms that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $147.50.

Several analysts have recently weighed in on the company. Weiss Ratings lowered Cirrus Logic from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, November 3rd. Zacks Research lowered Cirrus Logic from a “hold” rating to a “strong sell” rating in a research note on Friday, August 14th. Barclays cut Cirrus Logic from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $130.00 to $95.00 in a research report on Tuesday, October 20th. KeyCorp downgraded shares of Cirrus Logic from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 15th. Finally, Wall Street Zen cut shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Sunday, October 18th.

Insider Activity at Cirrus Logic

In other news, EVP Jeffrey Baumgartner sold 1,166 shares of the firm’s stock in a transaction on Tuesday, October 20th. The stock was sold at an average price of $107.75, for a total value of $125,636.50. Following the completion of the sale, the executive vice president directly owned 11,741 shares in the company, valued at approximately $1,265,092.75. This trade represents a 9.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 3,498 shares of company stock worth $401,850 in the last quarter. 1.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cirrus Logic

A number of hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its stake in shares of Cirrus Logic by 3.8% in the third quarter. GAMMA Investing LLC now owns 2,742 shares of the semiconductor company’s stock worth $329,000 after acquiring an additional 100 shares during the last quarter. Wedmont Private Capital grew its stake in shares of Cirrus Logic by 6.9% during the second quarter. Wedmont Private Capital now owns 1,644 shares of the semiconductor company’s stock valued at $247,000 after purchasing an additional 106 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Cirrus Logic by 120.0% during 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. Elevation Wealth Partners LLC increased its holdings in shares of Cirrus Logic by 72.5% in the second quarter. Elevation Wealth Partners LLC now owns 295 shares of the semiconductor company’s stock valued at $44,000 after purchasing an additional 124 shares in the last quarter. Finally, RHS Financial LLC raised its position in Cirrus Logic by 6.8% in the 3rd quarter. RHS Financial LLC now owns 1,968 shares of the semiconductor company’s stock worth $236,000 after purchasing an additional 125 shares during the last quarter. Institutional investors own 87.96% of the company’s stock.

Cirrus Logic Trading Up 1.3%

CRUS opened at $121.75 on Monday. Cirrus Logic has a 1-year low of $105.10 and a 1-year high of $180.42. The stock has a market capitalization of $6.07 billion, a price-to-earnings ratio of 15.37 and a beta of 1.23. The business has a 50 day moving average of $114.91 and a 200-day moving average of $138.03.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings data on Wednesday, November 4th. The semiconductor company reported $2.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.42 by $0.28. The business had revenue of $559.46 million for the quarter, compared to the consensus estimate of $540.37 million. Cirrus Logic had a net margin of 20.20% and a return on equity of 19.77%. Cirrus Logic’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter last year, the company posted $2.83 earnings per share. Equities analysts predict that Cirrus Logic will post 7.20 EPS for the current year.

Cirrus Logic Company Profile

Cirrus Logic is a fabless semiconductor company that designs high-performance, low-power integrated circuits, with a focus on audio and mixed-signal technologies. Its products include audio converters and codecs, amplifiers, and other components used to capture, process, and reproduce sound. The company also develops mixed-signal products for applications such as haptics and power management. Its chips are designed for a range of markets, including smartphones, computers, consumer audio equipment, automotive systems, and industrial devices.