Cirrus Logic, Inc. (NASDAQ:CRUS) Receives $143.33 Consensus Price Target from Analysts

Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) have been assigned an average recommendation of “Moderate Buy” from the seven brokerages that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $143.33.

Several analysts have issued reports on CRUS shares. Barclays upped their target price on Cirrus Logic from $110.00 to $140.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Susquehanna upped their price objective on shares of Cirrus Logic from $120.00 to $175.00 and gave the company a “positive” rating in a report on Wednesday, July 17th. Stifel Nicolaus lifted their target price on shares of Cirrus Logic from $110.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. StockNews.com lowered shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 15th. Finally, Benchmark downgraded shares of Cirrus Logic from a “buy” rating to a “hold” rating in a report on Thursday, May 16th.

Insider Buying and Selling at Cirrus Logic

In other Cirrus Logic news, VP Andrew Brannan sold 4,350 shares of Cirrus Logic stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $136.04, for a total transaction of $591,774.00. Following the completion of the sale, the vice president now directly owns 4,004 shares in the company, valued at $544,704.16. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Cirrus Logic news, SVP Justin E. Dougherty sold 10,203 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $131.71, for a total transaction of $1,343,837.13. Following the transaction, the senior vice president now directly owns 4,838 shares in the company, valued at $637,212.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Andrew Brannan sold 4,350 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $136.04, for a total value of $591,774.00. Following the transaction, the vice president now owns 4,004 shares of the company’s stock, valued at $544,704.16. The disclosure for this sale can be found here. Insiders have sold 26,259 shares of company stock valued at $3,348,759 over the last 90 days. 1.02% of the stock is owned by insiders.

Hedge Funds Weigh In On Cirrus Logic

Several hedge funds have recently bought and sold shares of the company. Profund Advisors LLC lifted its position in shares of Cirrus Logic by 2.0% during the second quarter. Profund Advisors LLC now owns 5,271 shares of the semiconductor company’s stock worth $673,000 after purchasing an additional 103 shares in the last quarter. Arkadios Wealth Advisors increased its stake in Cirrus Logic by 2.8% during the 2nd quarter. Arkadios Wealth Advisors now owns 4,413 shares of the semiconductor company’s stock worth $563,000 after buying an additional 119 shares during the period. Oak Associates Ltd. OH lifted its holdings in Cirrus Logic by 0.4% during the 2nd quarter. Oak Associates Ltd. OH now owns 34,176 shares of the semiconductor company’s stock worth $4,363,000 after buying an additional 134 shares in the last quarter. Holderness Investments Co. boosted its position in Cirrus Logic by 0.3% in the 2nd quarter. Holderness Investments Co. now owns 47,366 shares of the semiconductor company’s stock valued at $6,047,000 after buying an additional 155 shares during the period. Finally, Signaturefd LLC increased its position in shares of Cirrus Logic by 19.5% during the second quarter. Signaturefd LLC now owns 999 shares of the semiconductor company’s stock worth $128,000 after acquiring an additional 163 shares during the period. Institutional investors and hedge funds own 87.96% of the company’s stock.

Cirrus Logic Trading Down 4.3 %

NASDAQ:CRUS opened at $132.32 on Friday. The company has a market cap of $7.07 billion, a P/E ratio of 26.84 and a beta of 0.97. Cirrus Logic has a twelve month low of $65.02 and a twelve month high of $147.46. The company’s 50-day moving average price is $134.49 and its 200-day moving average price is $112.62.

Cirrus Logic (NASDAQ:CRUS) last released its earnings results on Tuesday, August 6th. The semiconductor company reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.50. The business had revenue of $374.03 million for the quarter, compared to analyst estimates of $318.41 million. Cirrus Logic had a net margin of 16.31% and a return on equity of 17.42%. The business’s revenue was up 18.0% on a year-over-year basis. During the same period last year, the company posted $0.35 EPS. On average, analysts expect that Cirrus Logic will post 5.19 earnings per share 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.