Cirrus Logic, Inc. (NASDAQ:CRUS) Receives Average Recommendation of "Moderate Buy" from Brokerages

Cirrus Logic, Inc. (NASDAQ:CRUS - Get Free Report) has been assigned an average rating of "Moderate Buy" from the seven analysts that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $143.33.

CRUS has been the topic of several research analyst reports. Barclays boosted their price objective on Cirrus Logic from $110.00 to $140.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 7th. Stifel Nicolaus increased their price target on shares of Cirrus Logic from $110.00 to $165.00 and gave the company a "buy" rating in a research report on Thursday, July 18th. Susquehanna lifted their price objective on shares of Cirrus Logic from $120.00 to $175.00 and gave the stock a "positive" rating in a research report on Wednesday, July 17th. KeyCorp increased their target price on shares of Cirrus Logic from $155.00 to $165.00 and gave the company an "overweight" rating in a research report on Wednesday, August 7th. Finally, StockNews.com lowered shares of Cirrus Logic from a "strong-buy" rating to a "buy" rating in a research note on Thursday, August 15th.

Cirrus Logic Price Performance

Shares of CRUS stock traded down $2.94 on Wednesday, hitting $119.79. The stock had a trading volume of 799,399 shares, compared to its average volume of 477,615. The business has a 50 day moving average of $133.20 and a 200 day moving average of $116.00. Cirrus Logic has a 12-month low of $65.02 and a 12-month high of $147.46. The stock has a market cap of $6.40 billion, a price-to-earnings ratio of 24.89 and a beta of 0.97.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The semiconductor company reported $1.12 EPS for the quarter, beating the consensus estimate of $0.62 by $0.50. Cirrus Logic had a net margin of 16.31% and a return on equity of 17.42%. The firm had revenue of $374.03 million during the quarter, compared to analyst estimates of $318.41 million. During the same quarter last year, the business posted $0.35 EPS. The company's revenue for the quarter was up 18.0% on a year-over-year basis. As a group, research analysts expect that Cirrus Logic will post 5.26 earnings per share for the current fiscal year.

Insider Activity at Cirrus Logic

In other news, VP Andrew Brannan sold 4,350 shares of the firm's stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $136.04, for a total value of $591,774.00. Following the completion of the transaction, the vice president now directly owns 4,004 shares of the company's stock, valued at $544,704.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Andrew Brannan sold 4,350 shares of the business's stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $136.04, for a total transaction of $591,774.00. Following the completion of the transaction, the vice president now owns 4,004 shares of the company's stock, valued at $544,704.16. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Justin E. Dougherty sold 10,203 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $131.71, for a total transaction of $1,343,837.13. Following the completion of the sale, the senior vice president now owns 4,838 shares in the company, valued at $637,212.98. The disclosure for this sale can be found here. 1.02% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cirrus Logic

A number of institutional investors have recently added to or reduced their stakes in CRUS. Pacer Advisors Inc. grew its holdings in shares of Cirrus Logic by 8,183.4% during the second quarter. Pacer Advisors Inc. now owns 665,320 shares of the semiconductor company's stock worth $84,935,000 after purchasing an additional 657,288 shares in the last quarter. Norges Bank purchased a new position in Cirrus Logic in the 4th quarter worth approximately $51,890,000. Balyasny Asset Management L.P. increased its holdings in shares of Cirrus Logic by 307.2% in the 4th quarter. Balyasny Asset Management L.P. now owns 706,536 shares of the semiconductor company's stock worth $58,777,000 after buying an additional 533,019 shares during the last quarter. LSV Asset Management raised its position in shares of Cirrus Logic by 34.6% during the 2nd quarter. LSV Asset Management now owns 1,890,493 shares of the semiconductor company's stock valued at $241,340,000 after buying an additional 486,086 shares in the last quarter. Finally, Kodai Capital Management LP bought a new stake in shares of Cirrus Logic during the 4th quarter worth $27,072,000. 87.96% of the stock is currently owned by institutional investors.

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.