Analysts Set Cirrus Logic, Inc. (NASDAQ:CRUS) Target Price at $132.86

Cirrus Logic, Inc. (NASDAQ:CRUS) has been assigned a consensus recommendation of “Moderate Buy” from the seven brokerages that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $132.86.

CRUS has been the subject of a number of research analyst reports. StockNews.com upgraded Cirrus Logic from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Barclays boosted their price objective on Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Finally, Benchmark restated a “buy” rating and set a $125.00 price objective on shares of Cirrus Logic in a report on Wednesday.

Insider Activity

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 value of $205,100.00. Following the completion of the sale, the executive vice president now directly owns 8,330 shares in the company, valued at approximately $833,000. The trade was a 19.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.02% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CRUS. Huntington National Bank raised its position in Cirrus Logic by 10,500.0% during the third quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 210 shares in the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in Cirrus Logic during the fourth quarter valued at approximately $28,000. Westside Investment Management Inc. acquired a new position in Cirrus Logic during the third quarter valued at approximately $35,000. Headlands Technologies LLC acquired a new position in Cirrus Logic during the fourth quarter valued at approximately $39,000. Finally, Sound Income Strategies LLC acquired a new position in Cirrus Logic during the fourth quarter valued at approximately $46,000. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Cirrus Logic Price Performance

Shares of NASDAQ CRUS opened at $99.79 on Wednesday. Cirrus Logic has a fifty-two week low of $81.30 and a fifty-two week high of $147.46. The stock has a market capitalization of $5.30 billion, a price-to-earnings ratio of 18.11 and a beta of 0.89. The business has a 50-day moving average of $103.35 and a 200-day moving average of $109.70.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 EPS for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.21). Cirrus Logic had a return on equity of 16.60% and a net margin of 16.55%. On average, sell-side analysts expect that Cirrus Logic will post 5.63 EPS for the current 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 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.