Cirrus Logic, Inc. (NASDAQ:CRUS) Receives Consensus Recommendation of “Buy” from Brokerages

Cirrus Logic, Inc. (NASDAQ:CRUS) has earned a consensus recommendation of “Buy” from the six analysts that are covering the firm, Marketbeat reports. Six research analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $96.43.

Several brokerages have issued reports on CRUS. Barclays lifted their price target on Cirrus Logic from $90.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. TD Cowen lifted their price objective on Cirrus Logic from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Stifel Nicolaus lifted their price objective on Cirrus Logic from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. StockNews.com downgraded Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 20th. Finally, Susquehanna lifted their price objective on Cirrus Logic from $85.00 to $100.00 and gave the stock a “positive” rating in a report on Wednesday, February 7th.

Cirrus Logic Stock Up 1.4 %

Shares of CRUS stock opened at $88.53 on Friday. The business has a 50-day moving average price of $90.01 and a two-hundred day moving average price of $82.21. Cirrus Logic has a 12-month low of $65.02 and a 12-month high of $95.87. The firm has a market cap of $4.77 billion, a P/E ratio of 28.10 and a beta of 1.00.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $2.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.83. Cirrus Logic had a return on equity of 16.13% and a net margin of 9.84%. The firm had revenue of $618.98 million during the quarter, compared to analyst estimates of $539.55 million. As a group, research analysts expect that Cirrus Logic will post 4.79 EPS for the current fiscal year.

Insider Transactions at Cirrus Logic

In related news, VP Andrew Brannan sold 3,250 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $94.00, for a total transaction of $305,500.00. Following the transaction, the vice president now owns 6,055 shares in the company, valued at approximately $569,170. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, VP Andrew Brannan sold 3,250 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $94.00, for a total transaction of $305,500.00. Following the transaction, the vice president now owns 6,055 shares in the company, valued at approximately $569,170. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Venkatesh Nathamuni sold 1,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. Following the transaction, the chief financial officer now owns 1,587 shares in the company, valued at approximately $150,765. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,530 shares of company stock worth $700,292. Company insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Mackenzie Financial Corp boosted its position in Cirrus Logic by 1.5% during the 4th quarter. Mackenzie Financial Corp now owns 2,485,746 shares of the semiconductor company’s stock valued at $206,789,000 after acquiring an additional 35,722 shares in the last quarter. Linden Thomas Advisory Services LLC boosted its position in Cirrus Logic by 2.1% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 17,673 shares of the semiconductor company’s stock valued at $1,470,000 after acquiring an additional 363 shares in the last quarter. UBS Group AG boosted its position in Cirrus Logic by 86.9% during the 3rd quarter. UBS Group AG now owns 61,811 shares of the semiconductor company’s stock valued at $4,572,000 after acquiring an additional 28,735 shares in the last quarter. FMR LLC boosted its position in Cirrus Logic by 4.5% during the 3rd quarter. FMR LLC now owns 7,552,630 shares of the semiconductor company’s stock valued at $558,593,000 after acquiring an additional 327,269 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in Cirrus Logic by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 6,299,658 shares of the semiconductor company’s stock valued at $465,923,000 after acquiring an additional 105,577 shares in the last quarter. Hedge funds and other institutional investors 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 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.