Cirrus Logic (NASDAQ:CRUS) Given New $115.00 Price Target at Barclays

Cirrus Logic (NASDAQ:CRUS - Free Report) had its price target hoisted by Barclays from $105.00 to $115.00 in a research report released on Wednesday,Benzinga reports. Barclays currently has an equal weight rating on the semiconductor company's stock.

Other equities research analysts also recently issued reports about the stock. Loop Capital assumed coverage on shares of Cirrus Logic in a research note on Tuesday, November 12th. They issued a "buy" rating and a $130.00 target price for the company. Susquehanna lifted their target price on Cirrus Logic from $135.00 to $140.00 and gave the stock a "positive" rating in a research note on Monday, November 18th. StockNews.com upgraded Cirrus Logic from a "hold" rating to a "buy" rating in a research note on Tuesday, December 3rd. Finally, Stifel Nicolaus reduced their price objective on shares of Cirrus Logic from $165.00 to $140.00 and set a "buy" rating for the company in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $132.86.

Cirrus Logic Price Performance

CRUS stock traded up $2.36 during midday trading on Wednesday, hitting $106.77. The company's stock had a trading volume of 1,261,329 shares, compared to its average volume of 761,861. The company's fifty day moving average price is $102.54 and its 200 day moving average price is $115.86. Cirrus Logic has a twelve month low of $81.30 and a twelve month high of $147.46. The stock has a market capitalization of $5.67 billion, a P/E ratio of 19.38 and a beta of 0.91.

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 (EPS) 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%. Equities analysts expect that Cirrus Logic will post 5.21 EPS for the current fiscal year.

Insider Activity

In related news, EVP Jeffrey W. Baumgartner sold 2,051 shares of Cirrus Logic stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $100.00, for a total transaction of $205,100.00. Following the sale, the executive vice president now directly owns 8,330 shares of the company's stock, valued at approximately $833,000. The trade was a 19.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.02% of the company's stock.

Institutional Trading of Cirrus Logic

A number of hedge funds have recently added to or reduced their stakes in the stock. Huntington National Bank boosted its holdings in shares of Cirrus Logic by 10,500.0% during the 3rd quarter. Huntington National Bank now owns 212 shares of the semiconductor company's stock valued at $26,000 after acquiring an additional 210 shares in the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Cirrus Logic in the fourth quarter valued at approximately $28,000. Nisa Investment Advisors LLC raised its holdings in Cirrus Logic by 98.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company's stock valued at $30,000 after buying an additional 120 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in Cirrus Logic during the 3rd quarter worth approximately $31,000. Finally, Westside Investment Management Inc. acquired a new position in Cirrus Logic in the 3rd quarter valued at approximately $35,000. Institutional investors and hedge funds 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.