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

Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) have earned an average rating of “Buy” from the nine ratings firms that are covering the stock, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $98.50.

Several research analysts have recently weighed in on the company. StockNews.com cut Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Wednesday, October 25th. Loop Capital raised Cirrus Logic from a “hold” rating to a “buy” rating and increased their target price for the company from $83.00 to $100.00 in a report on Wednesday. KeyCorp lowered their price objective on shares of Cirrus Logic from $110.00 to $100.00 and set an “overweight” rating on the stock in a research note on Friday. Susquehanna cut their target price on shares of Cirrus Logic from $95.00 to $80.00 and set a “positive” rating for the company in a research report on Tuesday, October 24th. Finally, Bank of America upped their price objective on Cirrus Logic from $75.00 to $80.00 in a research note on Friday, August 4th.

Insider Transactions at Cirrus Logic

In other news, VP Andrew Brannan sold 950 shares of the stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $80.00, for a total transaction of $76,000.00. Following the completion of the transaction, the vice president now directly owns 6,555 shares in the company, valued at approximately $524,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.89% of the company’s stock.

Institutional Trading of Cirrus Logic

A number of large investors have recently made changes to their positions in the business. US Bancorp DE increased its position in Cirrus Logic by 12.3% during the first quarter. US Bancorp DE now owns 1,711 shares of the semiconductor company’s stock valued at $145,000 after acquiring an additional 188 shares during the last quarter. MetLife Investment Management LLC boosted its stake in shares of Cirrus Logic by 33.8% during the 1st quarter. MetLife Investment Management LLC now owns 37,038 shares of the semiconductor company’s stock worth $3,140,000 after purchasing an additional 9,349 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Cirrus Logic by 10.8% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,994 shares of the semiconductor company’s stock valued at $1,780,000 after purchasing an additional 2,051 shares during the last quarter. Great West Life Assurance Co. Can raised its position in Cirrus Logic by 8.9% in the 1st quarter. Great West Life Assurance Co. Can now owns 31,668 shares of the semiconductor company’s stock worth $2,759,000 after purchasing an additional 2,600 shares during the period. Finally, Yousif Capital Management LLC lifted its stake in Cirrus Logic by 1.6% in the first quarter. Yousif Capital Management LLC now owns 30,028 shares of the semiconductor company’s stock worth $2,546,000 after purchasing an additional 468 shares during the last quarter. 90.18% of the stock is currently owned by institutional investors.

Cirrus Logic Price Performance

Shares of Cirrus Logic stock opened at $70.56 on Friday. Cirrus Logic has a 1 year low of $65.02 and a 1 year high of $111.15. The firm has a market cap of $3.86 billion, a price-to-earnings ratio of 28.45, a PEG ratio of 10.60 and a beta of 0.98. The company has a 50-day moving average of $72.53 and a 200 day moving average of $77.20.

Cirrus Logic (NASDAQ:CRUS) last issued its earnings results on Thursday, August 3rd. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.23. Cirrus Logic had a net margin of 8.38% and a return on equity of 16.18%. The business had revenue of $317.02 million during the quarter, compared to analysts’ expectations of $290.58 million. On average, equities analysts anticipate that Cirrus Logic will post 4.03 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 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 digital signal processing; boosted amplifiers; 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.