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

Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) have been assigned an average recommendation of “Moderate Buy” from the eight brokerages that are covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $146.8571.

Several brokerages have weighed in on CRUS. Stifel Nicolaus upped their target price on Cirrus Logic from $150.00 to $163.00 and gave the stock a “buy” rating in a report on Wednesday, February 4th. Benchmark raised their price target on Cirrus Logic from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, February 4th. Loop Capital downgraded Cirrus Logic from a “buy” rating to a “hold” rating and set a $130.00 price objective for the company. in a report on Monday, February 2nd. Barclays upped their price objective on shares of Cirrus Logic from $110.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 3rd. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Cirrus Logic in a research report on Monday, December 29th.

Insider Activity

In related news, EVP Justin E. Dougherty sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $143.16, for a total value of $429,480.00. Following the completion of the transaction, the executive vice president owned 5,876 shares of the company’s stock, valued at $841,208.16. The trade was a 33.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Scott Thomas sold 3,239 shares of the company’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $141.63, for a total value of $458,739.57. Following the sale, the executive vice president owned 30,393 shares of the company’s stock, valued at approximately $4,304,560.59. This represents a 9.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 28,045 shares of company stock worth $3,835,300. Corporate insiders own 1.16% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted 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 purchasing an additional 268,560 shares in the last quarter. LSV Asset Management grew its stake in Cirrus Logic by 1.0% in the fourth quarter. LSV Asset Management now owns 2,356,245 shares of the semiconductor company’s stock valued at $279,215,000 after purchasing an additional 23,703 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in Cirrus Logic by 0.7% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,578,555 shares of the semiconductor company’s stock worth $187,059,000 after purchasing an additional 11,307 shares in the last quarter. Earnest Partners LLC lifted its position in shares of Cirrus Logic by 0.8% during the third quarter. Earnest Partners LLC now owns 1,348,710 shares of the semiconductor company’s stock valued at $168,980,000 after buying an additional 10,750 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Cirrus Logic by 7.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,244,258 shares of the semiconductor company’s stock valued at $147,452,000 after buying an additional 83,059 shares during the last quarter. 87.96% of the stock is owned by institutional investors.

Cirrus Logic Stock Performance

Cirrus Logic stock opened at $143.39 on Friday. The company has a 50 day moving average price of $137.03 and a 200-day moving average price of $127.66. Cirrus Logic has a fifty-two week low of $75.83 and a fifty-two week high of $154.90. The company has a market capitalization of $7.31 billion, a PE ratio of 18.89 and a beta of 1.12.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings data on Tuesday, February 3rd. The semiconductor company reported $2.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.60. The company had revenue of $580.62 million for the quarter, compared to analysts’ expectations of $531.43 million. Cirrus Logic had a return on equity of 20.41% and a net margin of 20.47%.Cirrus Logic’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.51 earnings per share. On average, analysts forecast 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.