Cirrus Logic, Inc. (NASDAQ:CRUS) Receives $96.43 Consensus Price Target from Brokerages

Cirrus Logic, Inc. (NASDAQ:CRUS) has been given a consensus rating of “Buy” by the six brokerages that are covering the stock, Marketbeat reports. Six analysts have rated the stock with a buy rating. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $96.43.

Several research firms have recently weighed in on CRUS. StockNews.com lowered shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 20th. TD Cowen boosted their price objective on shares of Cirrus Logic from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Barclays boosted their price objective on shares of Cirrus Logic from $90.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. Susquehanna boosted their price objective on shares of Cirrus Logic from $85.00 to $100.00 and gave the stock a “positive” rating in a research note on Wednesday, February 7th. Finally, Stifel Nicolaus lifted their target price on shares of Cirrus Logic from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th.

Insider Transactions at Cirrus Logic

In related news, VP Andrew Brannan sold 3,250 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $94.00, for a total transaction of $305,500.00. Following the completion of the transaction, the vice president now directly owns 6,055 shares in the company, valued at approximately $569,170. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, SVP Justin E. Dougherty sold 3,280 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $91.40, for a total transaction of $299,792.00. Following the transaction, the senior vice president now directly owns 6,000 shares of the company’s stock, valued at $548,400. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Andrew Brannan sold 3,250 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $94.00, for a total transaction of $305,500.00. Following the transaction, the vice president now directly owns 6,055 shares in the company, valued at $569,170. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,530 shares of company stock valued at $700,292. Company insiders own 0.89% of the company’s stock.

Institutional Trading of Cirrus Logic

Several institutional investors and hedge funds have recently made changes to their positions in the company. MQS Management LLC raised its holdings in shares of Cirrus Logic by 4.0% in the third quarter. MQS Management LLC now owns 4,298 shares of the semiconductor company’s stock valued at $318,000 after purchasing an additional 164 shares during the last quarter. Truvestments Capital LLC increased its holdings in Cirrus Logic by 5.2% during the third quarter. Truvestments Capital LLC now owns 3,462 shares of the semiconductor company’s stock worth $256,000 after buying an additional 171 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Cirrus Logic by 0.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 26,963 shares of the semiconductor company’s stock worth $1,994,000 after buying an additional 172 shares during the last quarter. Covestor Ltd increased its holdings in Cirrus Logic by 13.2% during the third quarter. Covestor Ltd now owns 1,492 shares of the semiconductor company’s stock worth $110,000 after buying an additional 174 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its holdings in Cirrus Logic by 93.7% during the fourth quarter. Venturi Wealth Management LLC now owns 368 shares of the semiconductor company’s stock worth $31,000 after buying an additional 178 shares during the last quarter. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Cirrus Logic Trading Down 1.9 %

Shares of CRUS stock opened at $88.57 on Friday. Cirrus Logic has a 1 year low of $65.02 and a 1 year high of $95.87. The firm’s fifty day moving average price is $90.01 and its two-hundred day moving average price is $82.40. The firm has a market capitalization of $4.77 billion, a P/E ratio of 28.12 and a beta of 1.00.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $2.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.83. Cirrus Logic had a net margin of 9.84% and a return on equity of 16.13%. The firm had revenue of $618.98 million for the quarter, compared to analyst estimates of $539.55 million. As a group, equities research analysts forecast that Cirrus Logic will post 4.79 EPS for the current fiscal year.

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 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 processing; boosted amplifiers; 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.