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

Cirrus Logic, Inc. (NASDAQ:CRUS) has earned an average rating of “Moderate Buy” from the seven ratings firms that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $141.6667.

CRUS has been the topic of several recent research reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cirrus Logic in a report on Monday, December 29th. Wall Street Zen downgraded Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Benchmark upped their price target on shares of Cirrus Logic from $125.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Zacks Research raised shares of Cirrus Logic from a “hold” rating to a “strong-buy” rating in a report on Monday, October 27th. Finally, KeyCorp increased their target price on shares of Cirrus Logic from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th.

Cirrus Logic Stock Down 0.3%

Shares of NASDAQ:CRUS opened at $121.41 on Tuesday. The company has a 50-day moving average price of $120.49 and a two-hundred day moving average price of $117.23. Cirrus Logic has a twelve month low of $75.83 and a twelve month high of $136.92. The firm has a market capitalization of $6.20 billion, a PE ratio of 17.25 and a beta of 1.09.

Cirrus Logic (NASDAQ:CRUS) last posted its earnings results on Tuesday, November 4th. The semiconductor company reported $2.83 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.51. The business had revenue of $560.96 million for the quarter, compared to analyst estimates of $540.45 million. Cirrus Logic had a net margin of 19.48% and a return on equity of 19.59%. Cirrus Logic’s revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.25 EPS. Analysts anticipate that Cirrus Logic will post 5.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Cirrus Logic news, EVP Andrew Brannan sold 8,913 shares of the company’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $119.06, for a total value of $1,061,181.78. Following the completion of the transaction, the executive vice president directly owned 5,950 shares in the company, valued at approximately $708,407. This represents a 59.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott Thomas sold 734 shares of Cirrus Logic stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $131.25, for a total transaction of $96,337.50. Following the sale, the executive vice president directly owned 26,307 shares in the company, valued at $3,452,793.75. The trade was a 2.71% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.16% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CRUS. Norges Bank bought a new stake in Cirrus Logic during the 2nd quarter valued at about $68,744,000. DNB Asset Management AS raised its stake in Cirrus Logic by 124.1% during the 2nd quarter. DNB Asset Management AS now owns 504,474 shares of the semiconductor company’s stock valued at $52,594,000 after buying an additional 279,398 shares during the last quarter. Vanguard Group Inc. increased its position in Cirrus Logic by 4.2% during the third quarter. Vanguard Group Inc. now owns 6,622,431 shares of the semiconductor company’s stock valued at $829,724,000 after acquiring an additional 268,560 shares during the last quarter. Acadian Asset Management LLC boosted its position in Cirrus Logic by 390.6% in the second quarter. Acadian Asset Management LLC now owns 308,448 shares of the semiconductor company’s stock worth $32,144,000 after purchasing an additional 245,578 shares during the last quarter. Finally, Boston Partners bought a new position in shares of Cirrus Logic in the 2nd quarter worth approximately $24,910,000. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Cirrus Logic Company Profile

Cirrus Logic, Inc, headquartered in Austin, Texas, is a fabless semiconductor company specializing in high-precision analog and mixed-signal processing solutions. The firm develops low-power, high-performance audio, voice, and power management integrated circuits, serving prominent consumer electronics OEMs. Its semiconductor devices are designed to enhance audio quality, battery life, and system integration in mobile phones, tablets, wireless headsets and other portable devices.

The company’s product portfolio includes digital-to-analog converters (DACs), analog-to-digital converters (ADCs), audio codecs, power management ICs, voice processors and integrated amplifiers.