Cirrus Logic (NASDAQ:CRUS - Free Report) had its target price lowered by Barclays from $115.00 to $80.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The firm currently has an equal weight rating on the semiconductor company's stock.
Several other equities analysts have also commented on the stock. Benchmark reissued a "buy" rating and issued a $125.00 target price on shares of Cirrus Logic in a report on Wednesday, March 19th. Stifel Nicolaus decreased their price objective on shares of Cirrus Logic from $140.00 to $112.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $123.86.
View Our Latest Stock Analysis on CRUS
Cirrus Logic Stock Performance
Shares of CRUS stock traded down $0.08 during trading on Tuesday, hitting $92.32. The company had a trading volume of 40,817 shares, compared to its average volume of 620,418. The firm has a market capitalization of $4.91 billion, a P/E ratio of 16.78 and a beta of 0.95. Cirrus Logic has a one year low of $75.83 and a one year high of $147.46. The stock's 50-day moving average price is $97.15 and its 200 day moving average price is $103.35.
Cirrus Logic (NASDAQ:CRUS - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share for the quarter, missing the consensus estimate of $2.36 by ($0.21). Cirrus Logic had a net margin of 16.55% and a return on equity of 16.60%. On average, research analysts anticipate that Cirrus Logic will post 5.63 earnings per share for the current fiscal year.
Insider Activity at Cirrus Logic
In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $100.00, for a total value of $205,100.00. Following the sale, the executive vice president now owns 8,330 shares in the company, valued at $833,000. This trade represents a 19.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 1.02% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its holdings in shares of Cirrus Logic by 30.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 296,357 shares of the semiconductor company's stock valued at $36,811,000 after acquiring an additional 69,006 shares in the last quarter. Burney Co. raised its position in Cirrus Logic by 1,205.3% in the fourth quarter. Burney Co. now owns 154,247 shares of the semiconductor company's stock valued at $15,360,000 after purchasing an additional 142,430 shares during the last quarter. KBC Group NV boosted its stake in shares of Cirrus Logic by 52.5% during the fourth quarter. KBC Group NV now owns 1,896 shares of the semiconductor company's stock valued at $189,000 after purchasing an additional 653 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Cirrus Logic by 60.1% during the third quarter. Franklin Resources Inc. now owns 167,258 shares of the semiconductor company's stock worth $20,625,000 after purchasing an additional 62,757 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its holdings in shares of Cirrus Logic by 34.1% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 132,578 shares of the semiconductor company's stock worth $13,202,000 after purchasing an additional 33,682 shares during the last quarter. 87.96% of the stock is currently owned by institutional investors and hedge funds.
About Cirrus Logic
(
Get Free Report)
Cirrus Logic, Inc, a fabless semiconductor company, develops low-power high-precision mixed-signal processing solutions in China, the United States, and internationally. The company offers audio products, including amplifiers; codecs components that integrate analog-to-digital converters (ADCs) and digital-to-analog converters (DACs) into a single integrated circuit (IC); smart codecs, a codec with integrated digital signal processing; standalone digital signal processors; and SoundClear technology, which consists of a portfolio of tools, software, and algorithms that helps to enhance user experience with features, such as louder, high-fidelity sound, audio playback, voice capture, and hearing augmentation for use in smartphones, tablets, laptops, AR/VR headsets, home theater systems, automotive entertainment systems, and professional audio systems.
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