Cirrus Logic (NASDAQ:CRUS) Hits New 1-Year Low - Should You Sell?

Cirrus Logic, Inc. (NASDAQ:CRUS - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $78.50 and last traded at $79.48, with a volume of 35989 shares traded. The stock had previously closed at $83.23.

Analyst Ratings Changes

A number of equities research analysts recently commented on CRUS shares. Barclays increased their price target on Cirrus Logic from $105.00 to $115.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 5th. Benchmark reiterated a "buy" rating and issued a $125.00 target price on shares of Cirrus Logic in a report on Wednesday, March 19th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $132.86.

Cirrus Logic Stock Performance

The stock has a 50 day moving average price of $100.61 and a 200 day moving average price of $105.31. The company has a market capitalization of $4.58 billion, a P/E ratio of 15.66 and a beta of 0.95.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $2.15 EPS for the quarter, missing the consensus estimate 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, sell-side analysts expect that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.

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Insider Activity at Cirrus Logic

In related news, EVP Jeffrey W. Baumgartner sold 2,051 shares of Cirrus Logic stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $100.00, for a total value of $205,100.00. Following the completion of the sale, the executive vice president now owns 8,330 shares of the company's stock, valued at approximately $833,000. This trade represents a 19.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.02% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cirrus Logic

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Westside Investment Management Inc. purchased a new stake in shares of Cirrus Logic during the 3rd quarter valued at approximately $35,000. Kohmann Bosshard Financial Services LLC bought a new stake in Cirrus Logic during the 4th quarter valued at $28,000. Headlands Technologies LLC purchased a new stake in shares of Cirrus Logic during the fourth quarter worth $39,000. Sound Income Strategies LLC purchased a new stake in shares of Cirrus Logic during the fourth quarter worth $46,000. Finally, R Squared Ltd bought a new position in shares of Cirrus Logic in the fourth quarter worth $47,000. Institutional investors own 87.96% of the company's stock.

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.