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

Cirrus Logic, Inc. (NASDAQ:CRUS - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the seven brokerages that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $140.00.

CRUS has been the subject of a number of recent research reports. Barclays downgraded shares of Cirrus Logic from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $140.00 to $120.00 in a research note on Thursday, October 10th. Stifel Nicolaus upped their price objective on Cirrus Logic from $110.00 to $165.00 and gave the stock a "buy" rating in a research note on Thursday, July 18th. StockNews.com downgraded Cirrus Logic from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, October 9th. KeyCorp boosted their target price on shares of Cirrus Logic from $155.00 to $165.00 and gave the stock an "overweight" rating in a report on Wednesday, August 7th. Finally, Susquehanna increased their price target on shares of Cirrus Logic from $120.00 to $175.00 and gave the company a "positive" rating in a research report on Wednesday, July 17th.

Insiders Place Their Bets

In other Cirrus Logic news, VP Andrew Brannan sold 4,350 shares of the firm'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 sale, the vice president now owns 4,004 shares of the company's stock, valued at approximately $544,704.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Justin E. Dougherty sold 10,203 shares of the company's stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $131.71, for a total value of $1,343,837.13. Following the completion of the sale, the senior vice president now directly owns 4,838 shares of the company's stock, valued at approximately $637,212.98. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Andrew Brannan sold 4,350 shares of the 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 sale, the vice president now directly owns 4,004 shares of the company's stock, valued at approximately $544,704.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.02% of the stock is currently owned by company insiders.

Institutional Trading of Cirrus Logic

A number of institutional investors have recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new position in Cirrus Logic in the 3rd quarter valued at about $31,000. Atlas Capital Advisors LLC grew its stake in Cirrus Logic by 103.0% in the 1st quarter. Atlas Capital Advisors LLC now owns 402 shares of the semiconductor company's stock worth $37,000 after acquiring an additional 204 shares during the period. Versant Capital Management Inc raised its holdings in Cirrus Logic by 1,911.1% in the 2nd quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company's stock valued at $46,000 after acquiring an additional 344 shares during the last quarter. GAMMA Investing LLC raised its holdings in Cirrus Logic by 79.5% in the 2nd quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company's stock valued at $61,000 after acquiring an additional 210 shares during the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new position in shares of Cirrus Logic during the 2nd quarter worth $77,000. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Cirrus Logic Stock Up 1.6 %

CRUS traded up $1.96 during trading on Friday, reaching $124.83. The company had a trading volume of 459,225 shares, compared to its average volume of 484,905. The business has a 50 day simple moving average of $130.45 and a 200-day simple moving average of $119.63. The stock has a market cap of $6.67 billion, a P/E ratio of 25.32 and a beta of 0.96. Cirrus Logic has a 52 week low of $65.02 and a 52 week high of $147.46.

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

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.