Cowen Increases Cirrus Logic (NASDAQ:CRUS) Price Target to $100.00

Cirrus Logic (NASDAQ:CRUSGet Rating) had its target price boosted by Cowen from $90.00 to $100.00 in a research note published on Wednesday, Stock Target Advisor reports.

A number of other analysts have also recently commented on CRUS. Cowen lifted their price objective on Cirrus Logic from $90.00 to $100.00 in a research report on Wednesday. Stifel Nicolaus raised their price target on Cirrus Logic from $112.00 to $120.00 in a research note on Wednesday, May 4th. StockNews.com raised Cirrus Logic from a hold rating to a strong-buy rating in a research note on Thursday, May 12th. Benchmark decreased their price target on Cirrus Logic from $100.00 to $95.00 in a research note on Wednesday, May 4th. Finally, Susquehanna Bancshares decreased their price target on Cirrus Logic to $110.00 in a research note on Monday, July 25th. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Cirrus Logic presently has a consensus rating of Moderate Buy and a consensus target price of $102.60.

Cirrus Logic Trading Down 2.2 %

Cirrus Logic stock opened at $85.78 on Wednesday. The stock has a market cap of $4.80 billion, a PE ratio of 14.49, a P/E/G ratio of 6.95 and a beta of 0.97. The stock has a 50-day moving average price of $76.84 and a 200 day moving average price of $80.10. Cirrus Logic has a 52 week low of $67.03 and a 52 week high of $95.84.

Cirrus Logic (NASDAQ:CRUSGet Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The semiconductor company reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.60. The firm had revenue of $498.97 million during the quarter, compared to analysts’ expectations of $420.19 million. Cirrus Logic had a return on equity of 24.68% and a net margin of 18.38%. The firm’s quarterly revenue was up 70.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.47 EPS. On average, equities analysts predict that Cirrus Logic will post 4.63 EPS for the current year.

Insider Activity

In other news, VP Carl Jackson Alberty sold 1,823 shares of Cirrus Logic stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $88.24, for a total value of $160,861.52. Following the transaction, the vice president now directly owns 33,014 shares of the company’s stock, valued at approximately $2,913,155.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Justin E. Dougherty sold 4,039 shares of the business’s stock in a transaction that occurred on Tuesday, May 17th. The stock was sold at an average price of $80.94, for a total transaction of $326,916.66. Following the transaction, the vice president now directly owns 5,673 shares of the company’s stock, valued at approximately $459,172.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Carl Jackson Alberty sold 1,823 shares of the business’s stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $88.24, for a total value of $160,861.52. Following the transaction, the vice president now directly owns 33,014 shares in the company, valued at $2,913,155.36. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company’s stock.

Hedge Funds Weigh In On Cirrus Logic

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Cirrus Logic by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 5,939,813 shares of the semiconductor company’s stock worth $503,637,000 after acquiring an additional 168,607 shares in the last quarter. Mackenzie Financial Corp lifted its position in Cirrus Logic by 9.5% during the 1st quarter. Mackenzie Financial Corp now owns 2,563,577 shares of the semiconductor company’s stock worth $217,366,000 after acquiring an additional 223,272 shares in the last quarter. State Street Corp lifted its position in Cirrus Logic by 2.4% during the 1st quarter. State Street Corp now owns 1,987,809 shares of the semiconductor company’s stock worth $168,546,000 after acquiring an additional 46,040 shares in the last quarter. Wellington Management Group LLP lifted its position in Cirrus Logic by 183.8% during the 1st quarter. Wellington Management Group LLP now owns 1,972,087 shares of the semiconductor company’s stock worth $167,214,000 after acquiring an additional 1,277,213 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Cirrus Logic by 1.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,433,163 shares of the semiconductor company’s stock worth $121,521,000 after acquiring an additional 15,383 shares in the last quarter. 86.74% of the stock is owned by institutional investors and hedge funds.

Cirrus Logic Company Profile

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Cirrus Logic, Inc, a fabless semiconductor company, provides low-power and high-precision mixed-signal processing solutions in the United States and internationally. It offers portable products, including 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 digital signal processer; boosted amplifiers; 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, hearing augmentation, and active noise cancellation.

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Analyst Recommendations for Cirrus Logic (NASDAQ:CRUS)

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