Cirrus Logic (NASDAQ:CRUS) Price Target Lowered to $140.00 at Stifel Nicolaus

Cirrus Logic (NASDAQ:CRUS - Free Report) had its price objective trimmed by Stifel Nicolaus from $165.00 to $140.00 in a research note issued to investors on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the semiconductor company's stock.

Other analysts have also recently issued reports about the stock. KeyCorp raised 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. Susquehanna reduced their target price on shares of Cirrus Logic from $160.00 to $135.00 and set a "positive" rating for the company in a report on Tuesday. Barclays reduced their price target on shares of Cirrus Logic from $120.00 to $105.00 and set an "equal weight" rating for the company in a research report on Tuesday. Finally, StockNews.com downgraded shares of Cirrus Logic from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, October 9th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $132.00.

Cirrus Logic Stock Down 7.1 %

NASDAQ CRUS traded down $7.84 on Tuesday, hitting $102.79. The stock had a trading volume of 1,948,123 shares, compared to its average volume of 503,628. Cirrus Logic has a one year low of $69.23 and a one year high of $147.46. The stock has a market cap of $5.49 billion, a price-to-earnings ratio of 19.42 and a beta of 0.96. The company's 50-day moving average is $125.69 and its two-hundred day moving average is $122.09.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The semiconductor company reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.23. The business had revenue of $541.90 million during the quarter, compared to analysts' expectations of $520.53 million. Cirrus Logic had a net margin of 16.31% and a return on equity of 17.42%. The business's revenue was up 12.6% on a year-over-year basis. During the same period last year, the firm posted $1.43 earnings per share. On average, sell-side analysts anticipate that Cirrus Logic will post 5.37 earnings per share for the current year.

Insider Buying and Selling at Cirrus Logic

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

Institutional Trading of Cirrus Logic

A number of institutional investors and hedge funds have recently bought and sold shares of CRUS. Stonegate Investment Group LLC boosted its holdings in shares of Cirrus Logic by 5.3% in the third quarter. Stonegate Investment Group LLC now owns 1,776 shares of the semiconductor company's stock worth $221,000 after buying an additional 90 shares during the last quarter. Atria Investments Inc grew its position in Cirrus Logic by 2.9% during the 3rd quarter. Atria Investments Inc now owns 3,596 shares of the semiconductor company's stock worth $447,000 after purchasing an additional 101 shares during the last quarter. Profund Advisors LLC grew its position in Cirrus Logic by 2.0% during the 2nd quarter. Profund Advisors LLC now owns 5,271 shares of the semiconductor company's stock worth $673,000 after purchasing an additional 103 shares during the last quarter. Arkadios Wealth Advisors lifted its stake in shares of Cirrus Logic by 2.8% in the 2nd quarter. Arkadios Wealth Advisors now owns 4,413 shares of the semiconductor company's stock valued at $563,000 after purchasing an additional 119 shares during the period. Finally, Nisa Investment Advisors LLC lifted its stake in shares of 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 purchasing an additional 120 shares during the period. 87.96% of the stock is currently owned by institutional investors.

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.