Cirrus Logic (NASDAQ:CRUS) PT Raised to $155.00

Cirrus Logic (NASDAQ:CRUS) had its target price lifted by analysts at KeyCorp from $120.00 to $155.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the semiconductor company’s stock. KeyCorp’s price target points to a potential upside of 13.47% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Benchmark cut Cirrus Logic from a “buy” rating to a “hold” rating in a report on Thursday, May 16th. StockNews.com downgraded Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 2nd. TD Cowen raised their price target on Cirrus Logic from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Barclays lifted their target price on Cirrus Logic from $95.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, May 8th. Finally, Susquehanna raised their price target on Cirrus Logic from $100.00 to $120.00 and gave the company a “positive” rating in a report on Wednesday, May 8th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $112.86.

Cirrus Logic Price Performance

CRUS opened at $136.60 on Tuesday. Cirrus Logic has a 1 year low of $65.02 and a 1 year high of $138.65. The firm has a market capitalization of $7.30 billion, a PE ratio of 27.71 and a beta of 0.94. The business’s 50-day moving average is $117.32 and its two-hundred day moving average is $97.40.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings results on Tuesday, May 7th. The semiconductor company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.48. The company had revenue of $371.83 million during the quarter, compared to the consensus estimate of $320.14 million. Cirrus Logic had a return on equity of 16.49% and a net margin of 15.35%. As a group, sell-side analysts expect that Cirrus Logic will post 4.75 EPS for the current year.

Insider Buying and Selling at Cirrus Logic

In other Cirrus Logic news, SVP Scott Thomas sold 11,706 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $120.72, for a total transaction of $1,413,148.32. Following the transaction, the senior vice president now owns 23,975 shares in the company, valued at $2,894,262. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Alexander M. Davern sold 1,000 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $115.85, for a total value of $115,850.00. Following the transaction, the director now owns 19,332 shares in the company, valued at $2,239,612.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Scott Thomas sold 11,706 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $120.72, for a total value of $1,413,148.32. Following the sale, the senior vice president now owns 23,975 shares in the company, valued at approximately $2,894,262. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,706 shares of company stock valued at $2,187,098. Company insiders own 1.02% of the company’s stock.

Hedge Funds Weigh In On Cirrus Logic

Several institutional investors have recently made changes to their positions in CRUS. Venturi Wealth Management LLC grew its holdings in shares of Cirrus Logic by 93.7% during the fourth quarter. Venturi Wealth Management LLC now owns 368 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 178 shares during the last quarter. Atlas Capital Advisors LLC increased its stake in shares of Cirrus Logic by 103.0% in the first quarter. Atlas Capital Advisors LLC now owns 402 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 204 shares during the last quarter. Quadrant Capital Group LLC increased its stake in shares of Cirrus Logic by 72.3% in the fourth quarter. Quadrant Capital Group LLC now owns 510 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 214 shares during the last quarter. Versant Capital Management Inc increased its position in Cirrus Logic by 1,911.1% during the second quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company’s stock worth $46,000 after buying an additional 344 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in Cirrus Logic by 79.5% during the second quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company’s stock worth $61,000 after buying an additional 210 shares during the last quarter. 87.96% of the stock is owned by institutional investors.

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.