Cirrus Logic, Inc. (NASDAQ:CRUS) Receives Consensus Rating of “Moderate Buy” from Analysts

Cirrus Logic, Inc. (NASDAQ:CRUS) has earned a consensus rating of “Moderate Buy” from the seven ratings firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $143.33.

CRUS has been the subject of a number of analyst reports. KeyCorp boosted their price target on Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. StockNews.com raised Cirrus Logic from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Stifel Nicolaus boosted their price target on Cirrus Logic from $110.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Susquehanna upped their target price on Cirrus Logic from $120.00 to $175.00 and gave the company a “positive” rating in a research note on Wednesday, July 17th. Finally, Barclays upped their target price on Cirrus Logic from $110.00 to $140.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th.

Insiders Place Their Bets

In other Cirrus Logic news, VP Andrew Brannan sold 4,350 shares of the company’s stock in a transaction dated 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Cirrus Logic news, SVP Justin E. Dougherty sold 10,203 shares of the company’s stock in a transaction dated 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 completion of the sale, the senior vice president now directly owns 4,838 shares in the company, valued at $637,212.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Andrew Brannan sold 4,350 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $136.04, for a total value of $591,774.00. Following the completion of the sale, the vice president now directly owns 4,004 shares of the company’s stock, valued at approximately $544,704.16. The disclosure for this sale can be found here. 1.02% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cirrus Logic

Institutional investors and hedge funds have recently modified their holdings of the stock. Versant Capital Management Inc boosted its position in shares of Cirrus Logic by 1,911.1% in 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 period. Atlas Capital Advisors LLC boosted its position 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 buying an additional 204 shares during the period. GAMMA Investing LLC boosted its position in shares of Cirrus Logic by 79.5% in 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 period. Quadrant Capital Group LLC boosted its position 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 buying an additional 214 shares during the period. Finally, 1620 Investment Advisors Inc. purchased a new stake in shares of Cirrus Logic in the second quarter worth about $77,000. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Cirrus Logic Stock Down 4.2 %

NASDAQ CRUS opened at $119.02 on Wednesday. Cirrus Logic has a fifty-two week low of $65.02 and a fifty-two week high of $147.46. The stock has a market cap of $6.36 billion, a price-to-earnings ratio of 24.14 and a beta of 0.97. The business has a fifty day moving average of $131.56 and a 200-day moving average of $117.06.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly 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. Cirrus Logic had a return on equity of 17.42% and a net margin of 16.31%. The company had revenue of $374.03 million during the quarter, compared to analysts’ expectations of $318.41 million. During the same period in the previous year, the firm posted $0.35 earnings per share. The business’s revenue for the quarter was up 18.0% compared to the same quarter last year. As a group, analysts anticipate that Cirrus Logic will post 5.26 EPS 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.