Stifel Nicolaus Issues Pessimistic Forecast for Cirrus Logic (NASDAQ:CRUS) Stock Price

Cirrus Logic (NASDAQ:CRUS - Free Report) had its target price decreased by Stifel Nicolaus from $140.00 to $112.00 in a report released on Thursday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the semiconductor company's stock.

A number of other equities analysts also recently issued reports on the stock. Barclays lifted their price objective on shares of Cirrus Logic from $105.00 to $115.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 5th. Benchmark reiterated a "buy" rating and issued a $125.00 price objective on shares of Cirrus Logic in a research note on Wednesday, March 19th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $123.86.

Cirrus Logic Trading Up 0.9 %

NASDAQ CRUS traded up $0.73 during mid-day trading on Thursday, hitting $86.51. The company's stock had a trading volume of 183,405 shares, compared to its average volume of 620,253. The company's 50 day simple moving average is $98.30 and its 200 day simple moving average is $103.74. Cirrus Logic has a twelve month low of $75.83 and a twelve month high of $147.46. The firm has a market capitalization of $4.60 billion, a price-to-earnings ratio of 15.71 and a beta of 0.95.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last posted its earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share for the quarter, missing analysts' consensus estimates of $2.36 by ($0.21). Cirrus Logic had a return on equity of 16.60% and a net margin of 16.55%. As a group, research analysts forecast that Cirrus Logic will post 5.63 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of Cirrus Logic stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $100.00, for a total value of $205,100.00. Following the completion of the transaction, 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 Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.02% of the company's stock.

Institutional Investors Weigh In On Cirrus Logic

A number of hedge funds and other institutional investors have recently bought and sold shares of CRUS. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Cirrus Logic during the fourth quarter valued at about $28,000. Westside Investment Management Inc. purchased a new position in shares of Cirrus Logic during the 3rd quarter valued at $35,000. Headlands Technologies LLC bought a new position in shares of Cirrus Logic in the fourth quarter worth $39,000. Sound Income Strategies LLC purchased a new stake in shares of Cirrus Logic in the fourth quarter worth $46,000. Finally, R Squared Ltd bought a new stake in Cirrus Logic during the fourth quarter valued at $47,000. Institutional investors own 87.96% of the company's stock.

Cirrus Logic Company Profile

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.