Barclays Cuts Cirrus Logic (NASDAQ:CRUS) Price Target to $105.00

Cirrus Logic (NASDAQ:CRUS) had its target price reduced by equities research analysts at Barclays from $120.00 to $105.00 in a report released on Tuesday, Benzinga reports. The firm currently has an “equal weight” rating on the semiconductor company’s stock. Barclays‘s target price would indicate a potential upside of 0.85% from the company’s current price.

CRUS has been the subject of several other research reports. Susquehanna reduced their price target on shares of Cirrus Logic from $160.00 to $135.00 and set a “positive” rating for the company in a report on Tuesday. KeyCorp boosted their target price on shares of Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. StockNews.com cut shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. Finally, Stifel Nicolaus increased their target price on shares of Cirrus Logic from $110.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $132.00.

Cirrus Logic Price Performance

NASDAQ:CRUS opened at $104.11 on Tuesday. Cirrus Logic has a 1 year low of $69.23 and a 1 year high of $147.46. The company has a market cap of $5.56 billion, a price-to-earnings ratio of 17.65 and a beta of 0.96. The stock’s 50 day simple moving average is $124.13 and its two-hundred day simple moving average is $122.11.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings data on Monday, November 4th. The semiconductor company reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.23. The business had revenue of $541.90 million during the quarter, compared to the consensus estimate of $520.53 million. Cirrus Logic had a net margin of 16.31% and a return on equity of 17.42%. The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.43 earnings per share. As a group, analysts anticipate that Cirrus Logic will post 5.37 EPS for the current year.

Insider Activity at Cirrus Logic

In other Cirrus Logic news, SVP Justin E. Dougherty sold 10,203 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $131.71, for a total transaction of $1,343,837.13. Following the sale, the senior vice president now owns 4,838 shares of the company’s stock, valued at approximately $637,212.98. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, VP Andrew Brannan sold 4,350 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were 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 in the company, valued at approximately $544,704.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Justin E. Dougherty sold 10,203 shares of Cirrus Logic stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $131.71, for a total transaction of $1,343,837.13. Following the sale, the senior vice president now owns 4,838 shares of the company’s stock, valued at approximately $637,212.98. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.02% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Natixis Advisors LLC boosted its holdings in Cirrus Logic by 11.6% in the third quarter. Natixis Advisors LLC now owns 101,506 shares of the semiconductor company’s stock valued at $12,608,000 after purchasing an additional 10,579 shares during the last quarter. Sheaff Brock Investment Advisors LLC purchased a new stake in shares of Cirrus Logic in the third quarter worth about $1,752,000. Huntington National Bank grew its holdings in Cirrus Logic by 10,500.0% during the third quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 210 shares during the period. Parametrica Management Ltd purchased a new position in Cirrus Logic during the third quarter valued at approximately $231,000. Finally, Victory Capital Management Inc. lifted its holdings in Cirrus Logic by 165.6% in the third quarter. Victory Capital Management Inc. now owns 44,681 shares of the semiconductor company’s stock valued at $5,550,000 after acquiring an additional 27,856 shares during the period. Hedge funds and other institutional investors own 87.96% of the company’s stock.

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.