Analysts Set Cirrus Logic, Inc. (NASDAQ:CRUS) Price Target at $132.86

Cirrus Logic, Inc. (NASDAQ:CRUS - Get Free Report) has received a consensus rating of "Moderate Buy" from the seven analysts that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $132.86.

A number of equities analysts have recently commented on the company. Benchmark reaffirmed a "buy" rating and issued a $125.00 price target on shares of Cirrus Logic in a report on Wednesday. Barclays raised their price target on Cirrus Logic from $105.00 to $115.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 5th. Finally, StockNews.com raised Cirrus Logic from a "hold" rating to a "buy" rating in a report on Tuesday, December 3rd.

Insider Buying and Selling

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $100.00, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.02% of the stock is currently owned by company insiders.

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Institutional Investors Weigh In On Cirrus Logic

A number of large investors have recently added to or reduced their stakes in CRUS. Huntington National Bank raised its position in Cirrus Logic by 10,500.0% during the third quarter. Huntington National Bank now owns 212 shares of the semiconductor company's stock valued at $26,000 after purchasing an additional 210 shares in the last quarter. Kohmann Bosshard Financial Services LLC purchased a new stake in Cirrus Logic during the fourth quarter valued at about $28,000. Westside Investment Management Inc. purchased a new stake in Cirrus Logic during the third quarter valued at about $35,000. Headlands Technologies LLC purchased a new stake in Cirrus Logic during the fourth quarter valued at about $39,000. Finally, Sound Income Strategies LLC purchased a new stake in Cirrus Logic during the fourth quarter valued at about $46,000. Hedge funds and other institutional investors own 87.96% of the company's stock.

Cirrus Logic Stock Performance

NASDAQ CRUS traded down $0.08 on Wednesday, hitting $99.79. 2,452,053 shares of the stock traded hands, compared to its average volume of 574,183. The business's fifty day moving average is $103.35 and its two-hundred day moving average is $109.70. Cirrus Logic has a 12 month low of $81.30 and a 12 month high of $147.46. The firm has a market capitalization of $5.30 billion, a price-to-earnings ratio of 18.11 and a beta of 0.89.

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%. Analysts expect that Cirrus Logic will post 5.63 EPS for the current fiscal year.

About Cirrus Logic

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.