Cirrus Logic, Inc. (NASDAQ:CRUS) Receives $141.67 Average Price Target from Analysts

Cirrus Logic, Inc. (NASDAQ:CRUS) has received an average rating of “Moderate Buy” from the seven research firms that are covering the firm, MarketBeat reports. Two equities research 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 target among brokerages that have issued a report on the stock in the last year is $141.6667.

CRUS has been the topic of a number of recent research reports. Barclays raised their price target on shares of Cirrus Logic from $90.00 to $95.00 and gave the company an “equal weight” rating in a report on Wednesday, November 5th. Stifel Nicolaus raised their target price on Cirrus Logic from $140.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Susquehanna upped their price target on Cirrus Logic from $140.00 to $155.00 and gave the stock a “positive” rating in a research note on Wednesday, October 22nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Cirrus Logic in a report on Monday. Finally, KeyCorp raised their price objective on Cirrus Logic from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th.

Cirrus Logic Price Performance

Shares of NASDAQ CRUS opened at $121.52 on Friday. Cirrus Logic has a one year low of $75.83 and a one year high of $136.92. The business’s 50-day moving average price is $123.07 and its two-hundred day moving average price is $115.72. The company has a market capitalization of $6.20 billion, a P/E ratio of 17.26 and a beta of 1.08.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings results on Tuesday, November 4th. The semiconductor company reported $2.83 EPS for the quarter, beating the consensus estimate of $2.32 by $0.51. The business had revenue of $560.96 million during the quarter, compared to analysts’ expectations of $540.45 million. Cirrus Logic had a return on equity of 19.59% and a net margin of 19.48%.The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.25 EPS. On average, equities analysts anticipate that Cirrus Logic will post 5.63 EPS for the current year.

Insider Buying and Selling

In related news, EVP Andrew Brannan sold 8,913 shares of the firm’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 transaction, the executive vice president directly owned 5,950 shares in the company, valued at approximately $708,407. This trade represents a 59.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Scott Thomas sold 734 shares of Cirrus Logic stock in a transaction on Monday, October 20th. The stock was sold at an average price of $131.25, for a total transaction of $96,337.50. Following the completion of the transaction, the executive vice president owned 26,307 shares in the company, valued at $3,452,793.75. This trade represents a 2.71% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 1.16% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CRUS. Hantz Financial Services Inc. boosted its position in shares of Cirrus Logic by 1,660.0% in the second quarter. Hantz Financial Services Inc. now owns 264 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 249 shares during the period. RMG Wealth Management LLC acquired a new position in Cirrus Logic during the 2nd quarter valued at $30,000. Ameritas Advisory Services LLC bought a new stake in Cirrus Logic in the 2nd quarter valued at $31,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Cirrus Logic in the 2nd quarter worth $39,000. Finally, Abich Financial Wealth Management LLC acquired a new stake in Cirrus Logic in the 3rd quarter worth $46,000. 87.96% of the stock is owned by 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.