Barclays Issues Positive Forecast for Cirrus Logic (NASDAQ:CRUS) Stock Price

Cirrus Logic (NASDAQ:CRUS) had its target price boosted by Barclays from $110.00 to $120.00 in a report published on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the semiconductor company’s stock.

CRUS has been the subject of several other research reports. KeyCorp boosted their price objective on shares of Cirrus Logic from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 5th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cirrus Logic in a report on Monday, December 29th. Williams Trading set a $150.00 price objective on Cirrus Logic in a report on Wednesday, November 5th. Wall Street Zen cut Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Benchmark boosted their target price on Cirrus Logic from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $146.86.

Cirrus Logic Price Performance

Shares of CRUS stock opened at $138.38 on Tuesday. Cirrus Logic has a 1-year low of $75.83 and a 1-year high of $146.88. The stock’s 50-day moving average is $131.37 and its 200 day moving average is $124.96. The company has a market cap of $7.06 billion, a P/E ratio of 18.23 and a beta of 1.12.

Cirrus Logic (NASDAQ:CRUS) last announced its earnings results on Tuesday, February 3rd. The semiconductor company reported $2.97 EPS for the quarter, topping analysts’ consensus estimates of $2.37 by $0.60. The business had revenue of $580.62 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the company posted $2.51 earnings per share. On average, analysts anticipate that Cirrus Logic will post 5.63 EPS for the current year.

Insider Transactions at Cirrus Logic

In other Cirrus Logic news, CEO John Forsyth sold 21,806 shares of Cirrus Logic 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 completion of the sale, the chief executive officer owned 50,723 shares of the company’s stock, valued at approximately $6,855,213.45. The trade was a 30.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Scott Thomas sold 3,239 shares of the business’s stock in a transaction dated Friday, February 13th. The shares were 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 in the company, valued at approximately $4,304,560.59. The trade was a 9.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 28,045 shares of company stock worth $3,835,300. Company insiders own 1.16% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CRUS. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Cirrus Logic by 7,333.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 223 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 220 shares during the last quarter. Hantz Financial Services Inc. raised its holdings in shares of Cirrus Logic by 1,660.0% during the second quarter. Hantz Financial Services Inc. now owns 264 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 249 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in Cirrus Logic during the fourth quarter valued at $33,000. Torren Management LLC purchased a new stake in Cirrus Logic in the fourth quarter valued at $35,000. Finally, Kestra Advisory Services LLC purchased a new stake in Cirrus Logic in the fourth quarter valued at $36,000. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

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.