Cirrus Logic, Inc. (NASDAQ:CRUS) Given Average Recommendation of “Moderate Buy” by Brokerages

Cirrus Logic, Inc. (NASDAQ:CRUS) has been given an average rating of “Moderate Buy” by the seven research firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $112.86.

A number of brokerages have recently weighed in on CRUS. Susquehanna upped their target price on Cirrus Logic from $100.00 to $120.00 and gave the stock a “positive” rating in a research report on Wednesday, May 8th. TD Cowen boosted their price target on shares of Cirrus Logic from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Benchmark lowered shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. Barclays boosted their target price on shares of Cirrus Logic from $95.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. Finally, StockNews.com lowered shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 2nd.

Cirrus Logic Trading Up 2.0 %

Shares of NASDAQ CRUS opened at $142.65 on Friday. The firm has a market capitalization of $7.62 billion, a P/E ratio of 28.94 and a beta of 0.94. The firm’s 50-day moving average price is $121.30 and its 200-day moving average price is $99.03. Cirrus Logic has a 1-year low of $65.02 and a 1-year high of $142.83.

Cirrus Logic (NASDAQ:CRUS) last issued its earnings results on Tuesday, May 7th. The semiconductor company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.48. The business had revenue of $371.83 million during the quarter, compared to analyst estimates of $320.14 million. Cirrus Logic had a return on equity of 16.49% and a net margin of 15.35%. Equities research analysts forecast that Cirrus Logic will post 4.75 EPS for the current year.

Insider Activity at Cirrus Logic

In other Cirrus Logic news, SVP Scott Thomas sold 11,706 shares of the company’s stock in a transaction dated 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 completion of the sale, the senior vice president now directly owns 23,975 shares of the company’s stock, valued at approximately $2,894,262. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Justin E. Dougherty sold 4,000 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $107.85, for a total transaction of $431,400.00. Following the completion of the transaction, the senior vice president now owns 5,838 shares in the company, valued at $629,628.30. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Scott Thomas sold 11,706 shares of the firm’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 sale, the senior vice president now owns 23,975 shares of the company’s stock, valued at approximately $2,894,262. The disclosure for this sale can be found here. Insiders have sold 18,706 shares of company stock valued at $2,187,098 over the last ninety days. Corporate insiders own 1.02% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Venturi Wealth Management LLC lifted its stake in Cirrus Logic by 93.7% in 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 lifted its position in shares of Cirrus Logic by 103.0% during the 1st quarter. Atlas Capital Advisors LLC now owns 402 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 204 shares during the last quarter. Quadrant Capital Group LLC lifted its position in shares of Cirrus Logic by 72.3% during the 4th quarter. Quadrant Capital Group LLC now owns 510 shares of the semiconductor company’s stock valued at $42,000 after buying an additional 214 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of Cirrus Logic by 1,911.1% during the 2nd quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company’s stock worth $46,000 after acquiring an additional 344 shares during the period. Finally, GAMMA Investing LLC increased its holdings in Cirrus Logic by 79.5% in the 2nd quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company’s stock worth $61,000 after acquiring an additional 210 shares during the last quarter. 87.96% of the stock is owned by institutional investors.

About Cirrus Logic

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.