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

Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) have been given an average recommendation of “Moderate Buy” by the six ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $128.33.

Several brokerages recently commented on CRUS. Stifel Nicolaus set a $120.00 price target on shares of Cirrus Logic in a research note on Wednesday, May 7th. Wall Street Zen upgraded shares of Cirrus Logic from a “buy” rating to a “strong-buy” rating in a research note on Friday. Finally, Barclays lifted their price objective on shares of Cirrus Logic from $80.00 to $90.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 7th.

Insiders Place Their Bets

In other news, EVP Carl Jackson Alberty sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $100.00, for a total value of $200,000.00. Following the transaction, the executive vice president owned 41,645 shares of the company’s stock, valued at approximately $4,164,500. This trade represents a 4.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alexander M. Davern sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $105.62, for a total transaction of $105,620.00. Following the sale, the director owned 20,907 shares in the company, valued at $2,208,197.34. This trade represents a 4.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,000 shares of company stock valued at $1,305,620 in the last 90 days. 1.16% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cirrus Logic

A number of institutional investors have recently modified their holdings of CRUS. Somerset Trust Co grew its stake in Cirrus Logic by 3.5% in the second quarter. Somerset Trust Co now owns 3,292 shares of the semiconductor company’s stock worth $343,000 after purchasing an additional 110 shares during the period. May Hill Capital LLC lifted its holdings in shares of Cirrus Logic by 5.4% during the first quarter. May Hill Capital LLC now owns 2,220 shares of the semiconductor company’s stock valued at $221,000 after purchasing an additional 113 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Cirrus Logic by 4.3% during the second quarter. Farther Finance Advisors LLC now owns 2,806 shares of the semiconductor company’s stock valued at $293,000 after purchasing an additional 116 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Cirrus Logic by 0.7% during the second quarter. Public Employees Retirement System of Ohio now owns 18,431 shares of the semiconductor company’s stock valued at $1,922,000 after purchasing an additional 122 shares in the last quarter. Finally, Beverly Hills Private Wealth LLC lifted its holdings in Cirrus Logic by 3.7% in the first quarter. Beverly Hills Private Wealth LLC now owns 3,440 shares of the semiconductor company’s stock valued at $343,000 after acquiring an additional 124 shares during the period. Institutional investors own 87.96% of the company’s stock.

Cirrus Logic Price Performance

NASDAQ CRUS opened at $104.63 on Tuesday. The company has a market capitalization of $5.37 billion, a PE ratio of 17.41 and a beta of 0.95. The company has a fifty day moving average of $104.15 and a 200 day moving average of $100.79. Cirrus Logic has a 1 year low of $75.83 and a 1 year high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings results on Tuesday, May 6th. The semiconductor company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.15 by $0.52. Cirrus Logic had a return on equity of 17.66% and a net margin of 17.48%. The firm had revenue of $424.46 million during the quarter, compared to analysts’ expectations of $380.26 million. During the same quarter last year, the firm earned $1.24 earnings per share. The business’s revenue for the quarter was up 14.2% on a year-over-year basis. Research analysts expect that Cirrus Logic will post 5.63 earnings per share for the current year.

Cirrus Logic declared that its Board of Directors has initiated a share repurchase plan on Tuesday, May 6th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the semiconductor company to reacquire up to 9.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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 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.