Susquehanna Increases Cirrus Logic (NASDAQ:CRUS) Price Target to $120.00

Cirrus Logic (NASDAQ:CRUS) had its target price lifted by stock analysts at Susquehanna from $100.00 to $120.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “positive” rating on the semiconductor company’s stock. Susquehanna’s price objective would indicate a potential upside of 15.63% from the company’s previous close.

CRUS has been the subject of a number of other research reports. TD Cowen boosted their price objective on shares of Cirrus Logic from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday. Barclays raised their price target on Cirrus Logic from $90.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, January 16th. Stifel Nicolaus upped their price objective on Cirrus Logic from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. StockNews.com cut Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 20th. Finally, TheStreet raised shares of Cirrus Logic from a “c+” rating to a “b-” rating in a report on Tuesday, January 23rd. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $107.86.

Cirrus Logic Trading Up 1.5 %

Shares of NASDAQ CRUS opened at $103.78 on Wednesday. The company has a market capitalization of $5.59 billion, a price-to-earnings ratio of 32.95 and a beta of 0.99. Cirrus Logic has a twelve month low of $65.02 and a twelve month high of $104.16. The business has a 50 day simple moving average of $90.12 and a 200-day simple moving average of $83.45.

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

Insider Buying and Selling

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

Institutional Investors Weigh In On Cirrus Logic

A number of institutional investors and hedge funds have recently modified their holdings of CRUS. Venturi Wealth Management LLC boosted its stake in Cirrus Logic by 93.7% in the 4th 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. 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. Quadrant Capital Group LLC grew its holdings in shares of Cirrus Logic by 72.3% during the fourth quarter. Quadrant Capital Group LLC now owns 510 shares of the semiconductor company’s stock valued at $42,000 after buying an additional 214 shares in the last quarter. Nisa Investment Advisors LLC raised its position in Cirrus Logic by 71.1% during the third quarter. Nisa Investment Advisors LLC now owns 722 shares of the semiconductor company’s stock valued at $53,000 after buying an additional 300 shares during the period. Finally, DekaBank Deutsche Girozentrale purchased a new stake in Cirrus Logic in the 3rd quarter worth about $62,000. 87.96% of the stock is owned by institutional investors and hedge funds.

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.