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

Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) have been given an average rating of “Moderate Buy” by the seven analysts that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $143.33.

CRUS has been the subject of a number of research reports. KeyCorp lifted their target price on Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Benchmark cut shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. TD Cowen increased their target price on shares of Cirrus Logic from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Barclays raised their target price on shares of Cirrus Logic from $110.00 to $140.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Finally, Susquehanna boosted their price target on Cirrus Logic from $120.00 to $175.00 and gave the company a “positive” rating in a research note on Wednesday, July 17th.

Insider Buying and Selling at Cirrus Logic

In other Cirrus Logic news, SVP Justin E. Dougherty sold 10,203 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $131.71, for a total value of $1,343,837.13. Following the sale, the senior vice president now owns 4,838 shares of the company’s stock, valued at approximately $637,212.98. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, SVP Justin E. Dougherty sold 10,203 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $131.71, for a total value of $1,343,837.13. Following the completion of the transaction, the senior vice president now owns 4,838 shares of the company’s stock, valued at $637,212.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Scott Thomas sold 11,706 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $120.72, for a total transaction of $1,413,148.32. Following the completion of the sale, the senior vice president now owns 23,975 shares in the company, valued at $2,894,262. The disclosure for this sale can be found here. Insiders sold a total of 26,259 shares of company stock worth $3,348,759 over the last three months. Corporate insiders own 1.02% of the company’s stock.

Institutional Trading of Cirrus Logic

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Atlas Capital Advisors LLC boosted its holdings in shares of Cirrus Logic by 103.0% during the 1st quarter. Atlas Capital Advisors LLC now owns 402 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 204 shares in the last quarter. 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 worth $42,000 after purchasing an additional 214 shares during the last quarter. Versant Capital Management Inc increased its stake 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 valued at $46,000 after buying an additional 344 shares during the period. Venturi Wealth Management LLC raised its holdings in Cirrus Logic by 60.3% in the 1st quarter. Venturi Wealth Management LLC now owns 590 shares of the semiconductor company’s stock valued at $55,000 after buying an additional 222 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in Cirrus Logic by 79.5% during the 2nd 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. Institutional investors own 87.96% of the company’s stock.

Cirrus Logic Price Performance

Shares of CRUS opened at $145.69 on Friday. The company’s 50-day moving average is $133.26 and its 200-day moving average is $110.95. The firm has a market capitalization of $7.79 billion, a PE ratio of 29.55 and a beta of 0.94. Cirrus Logic has a fifty-two week low of $65.02 and a fifty-two week high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Tuesday, August 6th. The semiconductor company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.50. Cirrus Logic had a net margin of 15.35% and a return on equity of 16.49%. The firm had revenue of $374.03 million during the quarter, compared to the consensus estimate of $318.41 million. During the same period last year, the business posted $0.35 earnings per share. The business’s revenue for the quarter was up 18.0% compared to the same quarter last year. Analysts predict that Cirrus Logic will post 4.75 earnings per share for the current fiscal year.

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 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.