Barclays Raises Cirrus Logic (NASDAQ:CRUS) Price Target to $110.00

Cirrus Logic (NASDAQ:CRUS) had its price objective lifted by investment analysts at Barclays from $95.00 to $110.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the semiconductor company’s stock. Barclays‘s price target indicates a potential upside of 10.12% from the company’s previous close.

CRUS has been the topic of a number of other research reports. Susquehanna lifted their price target on shares of Cirrus Logic from $100.00 to $120.00 and gave the company a “positive” rating in a research note on Wednesday. TheStreet raised shares of Cirrus Logic from a “c+” rating to a “b-” rating in a research note on Tuesday, January 23rd. StockNews.com lowered shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 20th. TD Cowen lifted their price objective on Cirrus Logic from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Stifel Nicolaus increased their target price on Cirrus Logic from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $107.86.

Cirrus Logic Stock Up 9.6 %

Shares of NASDAQ:CRUS traded up $8.76 during trading on Wednesday, reaching $99.89. 1,071,206 shares of the company’s stock traded hands, compared to its average volume of 421,266. Cirrus Logic has a fifty-two week low of $65.02 and a fifty-two week high of $103.30. The company has a 50-day simple moving average of $89.63 and a 200-day simple moving average of $83.17. The firm has a market cap of $5.38 billion, a PE ratio of 31.88 and a beta of 0.99.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $2.53 EPS for the quarter, beating the consensus estimate of $1.70 by $0.83. The company had revenue of $618.98 million for the quarter, compared to analyst estimates of $539.55 million. Cirrus Logic had a return on equity of 16.13% and a net margin of 9.84%. On average, equities research analysts forecast that Cirrus Logic will post 4.79 EPS for the current year.

Insider Buying and Selling at Cirrus Logic

In other news, SVP Justin E. Dougherty sold 3,280 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $91.40, for a total transaction of $299,792.00. Following the transaction, the senior vice president now directly owns 6,000 shares in the company, valued at approximately $548,400. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, SVP Justin E. Dougherty sold 3,280 shares of Cirrus Logic stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $91.40, for a total transaction of $299,792.00. Following the transaction, the senior vice president now owns 6,000 shares in the company, valued at $548,400. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Venkatesh Nathamuni sold 1,000 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $95.00, for a total value of $95,000.00. Following the transaction, the chief financial officer now directly owns 1,587 shares in the company, valued at approximately $150,765. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,530 shares of company stock worth $700,292. Insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On Cirrus Logic

Hedge funds and other institutional investors have recently bought and sold shares of the company. Venturi Wealth Management LLC boosted its holdings in Cirrus Logic by 93.7% in the 4th quarter. Venturi Wealth Management LLC now owns 368 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 178 shares during the last quarter. Atlas Capital Advisors LLC lifted its holdings in Cirrus Logic by 103.0% in the first quarter. Atlas Capital Advisors LLC now owns 402 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 204 shares during the last quarter. Quadrant Capital Group LLC grew its position in Cirrus Logic by 72.3% in the fourth quarter. Quadrant Capital Group LLC now owns 510 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 214 shares during the period. Nisa Investment Advisors LLC grew its position in Cirrus Logic by 71.1% in the third quarter. Nisa Investment Advisors LLC now owns 722 shares of the semiconductor company’s stock worth $53,000 after acquiring an additional 300 shares during the period. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Cirrus Logic during the third quarter worth $62,000. 87.96% of the stock is currently owned by institutional investors and hedge funds.

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 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 digital signal processing; boosted amplifiers; 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.