Stifel Nicolaus Cuts Cirrus Logic (NASDAQ:CRUS) Price Target to $140.00

Cirrus Logic (NASDAQ:CRUS) had its price objective trimmed by Stifel Nicolaus from $165.00 to $140.00 in a report published on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the semiconductor company’s stock.

CRUS has been the topic of a number of other research reports. Susquehanna reduced their target price on Cirrus Logic from $160.00 to $135.00 and set a “positive” rating on the stock in a research note on Tuesday. KeyCorp upped their price objective on Cirrus Logic from $155.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. StockNews.com cut Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 9th. Finally, Barclays reduced their target price on shares of Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating on the stock in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Cirrus Logic has an average rating of “Moderate Buy” and an average target price of $132.00.

Cirrus Logic Stock Performance

Shares of CRUS stock opened at $103.55 on Tuesday. The stock has a market cap of $5.53 billion, a PE ratio of 17.55 and a beta of 0.96. Cirrus Logic has a 1 year low of $69.23 and a 1 year high of $147.46. The stock has a fifty day moving average price of $123.31 and a 200 day moving average price of $121.98.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings data on Monday, November 4th. The semiconductor company reported $2.25 EPS for the quarter, topping the consensus estimate of $2.02 by $0.23. The business had revenue of $541.90 million for the quarter, compared to analyst estimates of $520.53 million. Cirrus Logic had a net margin of 17.19% and a return on equity of 18.42%. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.43 EPS. As a group, equities research analysts predict that Cirrus Logic will post 5.37 earnings per share for the current year.

Insider Buying and Selling at Cirrus Logic

In other news, VP Andrew Brannan sold 4,350 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.02% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Huntington National Bank boosted its position in Cirrus Logic by 10,500.0% in the 3rd quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 210 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in Cirrus Logic by 98.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 120 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Cirrus Logic in the 3rd quarter valued at approximately $31,000. Versant Capital Management Inc boosted 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 valued at $46,000 after buying an additional 344 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of 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 in the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

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.