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

Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) have received a consensus rating of “Moderate Buy” from the eight brokerages that are currently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $145.4286.

A number of brokerages recently weighed in on CRUS. Benchmark raised their price target on shares of Cirrus Logic from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday. Loop Capital cut Cirrus Logic from a “buy” rating to a “hold” rating and set a $130.00 target price for the company. in a report on Monday, February 2nd. Weiss Ratings restated a “hold (c+)” rating on shares of Cirrus Logic in a research report on Monday, December 29th. Barclays boosted their price target on Cirrus Logic from $100.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Finally, Zacks Research raised Cirrus Logic from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 27th.

Insider Transactions at Cirrus Logic

In other news, EVP Andrew Brannan sold 8,913 shares of the stock in a transaction dated 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 sale, the executive vice president directly owned 5,950 shares in the company, valued at $708,407. This represents a 59.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John Forsyth sold 21,806 shares of the business’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $135.15, for a total transaction of $2,947,080.90. Following the transaction, the chief executive officer owned 50,723 shares in the company, valued at $6,855,213.45. The trade was a 30.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.16% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cirrus Logic

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Cirrus Logic by 4.2% in the 3rd quarter. Vanguard Group Inc. now owns 6,622,431 shares of the semiconductor company’s stock valued at $829,724,000 after buying an additional 268,560 shares during the period. LSV Asset Management raised its position in shares of Cirrus Logic by 1.0% during the 4th quarter. LSV Asset Management now owns 2,356,245 shares of the semiconductor company’s stock valued at $279,215,000 after buying an additional 23,703 shares during the period. Earnest Partners LLC lifted its holdings in Cirrus Logic by 0.8% in the third quarter. Earnest Partners LLC now owns 1,348,710 shares of the semiconductor company’s stock valued at $168,980,000 after acquiring an additional 10,750 shares during the last quarter. Sei Investments Co. grew its position in Cirrus Logic by 2.2% in the third quarter. Sei Investments Co. now owns 926,958 shares of the semiconductor company’s stock worth $116,140,000 after acquiring an additional 20,381 shares during the period. Finally, Royce & Associates LP grew its position in Cirrus Logic by 5.1% in the third quarter. Royce & Associates LP now owns 713,999 shares of the semiconductor company’s stock worth $89,457,000 after acquiring an additional 34,839 shares during the period. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Cirrus Logic Price Performance

Shares of NASDAQ:CRUS opened at $142.78 on Friday. The business’s 50 day moving average price is $124.39 and its 200-day moving average price is $120.16. Cirrus Logic has a 1 year low of $75.83 and a 1 year high of $144.76. The firm has a market capitalization of $7.28 billion, a price-to-earnings ratio of 18.81 and a beta of 1.12.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings results on Tuesday, February 3rd. The semiconductor company reported $2.97 EPS for the quarter, topping the consensus estimate of $2.37 by $0.60. The company had revenue of $580.62 million during the quarter, compared to analyst estimates of $531.43 million. Cirrus Logic had a net margin of 20.47% and a return on equity of 20.41%. The firm’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.51 EPS. On average, sell-side analysts expect that Cirrus Logic will post 5.63 earnings per share for the current year.

About Cirrus Logic

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.