Barclays Boosts Cirrus Logic (NASDAQ:CRUS) Price Target to $110.00

Cirrus Logic (NASDAQ:CRUS) had its price target lifted by stock analysts at Barclays from $95.00 to $110.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the semiconductor company’s stock. Barclays‘s target price would indicate a potential upside of 5.99% from the company’s previous close.

Several other equities analysts have also commented on CRUS. TheStreet raised shares of Cirrus Logic from a “c+” rating to a “b-” rating in a report on Tuesday, January 23rd. Stifel Nicolaus lifted their price objective on Cirrus Logic from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday. TD Cowen increased their price target on shares of Cirrus Logic from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday. Susquehanna boosted their price objective on shares of Cirrus Logic from $100.00 to $120.00 and gave the company a “positive” rating in a research report on Wednesday. Finally, StockNews.com lowered shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 20th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $107.86.

Cirrus Logic Stock Up 1.5 %

Cirrus Logic stock opened at $103.78 on Wednesday. The business has a 50-day simple moving average of $90.12 and a 200 day simple moving average of $83.45. Cirrus Logic has a 52 week low of $65.02 and a 52 week high of $104.16. The stock has a market cap of $5.59 billion, a price-to-earnings ratio of 32.95 and a beta of 0.99.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $2.53 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.83. Cirrus Logic had a net margin of 9.84% and a return on equity of 16.13%. The company had revenue of $618.98 million for the quarter, compared to analysts’ expectations of $539.55 million. On average, research analysts anticipate that Cirrus Logic will post 4.79 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Justin E. Dougherty sold 3,280 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $91.40, for a total value of $299,792.00. Following the completion of the transaction, the senior vice president now owns 6,000 shares of the company’s stock, valued at approximately $548,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.89% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. MQS Management LLC boosted its stake in Cirrus Logic by 4.0% during the third quarter. MQS Management LLC now owns 4,298 shares of the semiconductor company’s stock worth $318,000 after acquiring an additional 164 shares in the last quarter. Truvestments Capital LLC grew its holdings in Cirrus Logic by 5.2% in the third quarter. Truvestments Capital LLC now owns 3,462 shares of the semiconductor company’s stock worth $256,000 after purchasing an additional 171 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Cirrus Logic by 0.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 26,963 shares of the semiconductor company’s stock worth $1,994,000 after purchasing an additional 172 shares during the period. Covestor Ltd grew its holdings in Cirrus Logic by 13.2% in the third quarter. Covestor Ltd now owns 1,492 shares of the semiconductor company’s stock worth $110,000 after purchasing an additional 174 shares during the period. Finally, Venturi Wealth Management LLC grew its holdings in Cirrus Logic by 93.7% in the fourth quarter. Venturi Wealth Management LLC now owns 368 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 178 shares during the period. 87.96% of the stock is currently owned by institutional investors.

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.