Cirrus Logic (NASDAQ:CRUS) PT Lowered to $160.00

Cirrus Logic (NASDAQ:CRUS - Free Report) had its price objective cut by Susquehanna from $175.00 to $160.00 in a research report report published on Monday morning, Benzinga reports. They currently have a positive rating on the semiconductor company's stock.

Several other brokerages have also recently issued reports on CRUS. Barclays cut shares of Cirrus Logic from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $140.00 to $120.00 in a research note on Thursday, October 10th. KeyCorp increased their price target on Cirrus Logic from $155.00 to $165.00 and gave the company an "overweight" rating in a report on Wednesday, August 7th. Stifel Nicolaus boosted 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. Finally, StockNews.com downgraded Cirrus Logic from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $137.50.

Cirrus Logic Price Performance

CRUS stock traded up $0.45 during trading on Monday, hitting $125.28. The stock had a trading volume of 484,734 shares, compared to its average volume of 484,904. Cirrus Logic has a twelve month low of $65.02 and a twelve month high of $147.46. The company's 50-day moving average price is $130.45 and its two-hundred day moving average price is $119.82. The stock has a market capitalization of $6.70 billion, a P/E ratio of 25.28 and a beta of 0.96.

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

Insider Transactions at Cirrus Logic

In related news, VP Andrew Brannan sold 4,350 shares of the business's stock in a transaction dated Wednesday, August 14th. The shares were 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 in the company, valued at approximately $544,704.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Andrew Brannan sold 4,350 shares of Cirrus Logic stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $136.04, for a total value of $591,774.00. Following the completion of the sale, the vice president now owns 4,004 shares in the company, valued at approximately $544,704.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Justin E. Dougherty sold 10,203 shares of the company's stock in a transaction on Friday, August 9th. The stock was sold at an average price of $131.71, for a total value of $1,343,837.13. Following the transaction, the senior vice president now owns 4,838 shares in the company, valued at $637,212.98. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.02% of the company's stock.

Hedge Funds Weigh In On Cirrus Logic

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Cirrus Logic by 2.1% in the first quarter. Vanguard Group Inc. now owns 6,363,188 shares of the semiconductor company's stock valued at $588,977,000 after purchasing an additional 128,393 shares during the period. State Board of Administration of Florida Retirement System grew its stake in shares of Cirrus Logic by 13.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 48,030 shares of the semiconductor company's stock worth $4,446,000 after acquiring an additional 5,645 shares in the last quarter. Susquehanna Fundamental Investments LLC increased its position in shares of Cirrus Logic by 741.0% during the second quarter. Susquehanna Fundamental Investments LLC now owns 27,754 shares of the semiconductor company's stock worth $3,543,000 after acquiring an additional 24,454 shares during the period. Sei Investments Co. raised its stake in shares of Cirrus Logic by 6.6% in the first quarter. Sei Investments Co. now owns 696,895 shares of the semiconductor company's stock valued at $64,505,000 after acquiring an additional 42,897 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Cirrus Logic by 52.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 961 shares of the semiconductor company's stock valued at $123,000 after purchasing an additional 329 shares during the period. 87.96% of the stock is owned by institutional investors and hedge funds.

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.