Cirrus Logic (NASDAQ:CRUS) Price Target Raised to $150.00

Cirrus Logic (NASDAQ:CRUS) had its price target increased by KeyCorp from $135.00 to $150.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have an overweight rating on the semiconductor company’s stock.

Several other research firms have also recently commented on CRUS. Wall Street Zen upgraded shares of Cirrus Logic from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 18th. Susquehanna increased their price objective on Cirrus Logic from $140.00 to $155.00 and gave the stock a “positive” rating in a report on Wednesday, October 22nd. Zacks Research upgraded Cirrus Logic from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 27th. Stifel Nicolaus boosted their price target on Cirrus Logic from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Cirrus Logic in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $140.00.

Cirrus Logic Price Performance

Shares of NASDAQ CRUS opened at $118.64 on Wednesday. The firm has a market capitalization of $6.09 billion, a PE ratio of 18.57 and a beta of 1.11. Cirrus Logic has a 1-year low of $75.83 and a 1-year high of $136.92. The business’s fifty day moving average price is $123.53 and its two-hundred day moving average price is $110.78.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings results on Tuesday, November 4th. The semiconductor company reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.51. Cirrus Logic had a net margin of 18.15% and a return on equity of 18.38%. The company had revenue of $560.96 million during the quarter, compared to the consensus estimate of $540.45 million. During the same quarter in the previous year, the company posted $2.25 earnings per share. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. Cirrus Logic has set its Q3 2026 guidance at EPS. Equities research analysts expect that Cirrus Logic will post 5.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Denise Grode sold 2,202 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $116.87, for a total transaction of $257,347.74. Following the sale, the executive vice president owned 5,698 shares in the company, valued at $665,925.26. The trade was a 27.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeffrey W. Baumgartner sold 9,162 shares of the business’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $120.00, for a total transaction of $1,099,440.00. Following the sale, the executive vice president directly owned 14,001 shares in the company, valued at approximately $1,680,120. This trade represents a 39.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 33,187 shares of company stock worth $3,918,128. Company insiders own 1.16% of the company’s stock.

Hedge Funds Weigh In On Cirrus Logic

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Cirrus Logic by 4.2% in the 3rd quarter. Vanguard Group Inc. now owns 6,622,431 shares of the semiconductor company’s stock valued at $829,724,000 after purchasing an additional 268,560 shares during the last quarter. LSV Asset Management boosted its position in Cirrus Logic by 6.4% during the first quarter. LSV Asset Management now owns 2,402,284 shares of the semiconductor company’s stock worth $239,400,000 after purchasing an additional 145,524 shares during the period. Fuller & Thaler Asset Management Inc. boosted its position in Cirrus Logic by 0.3% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,590,744 shares of the semiconductor company’s stock worth $158,518,000 after purchasing an additional 4,403 shares during the period. Ameriprise Financial Inc. grew its holdings in Cirrus Logic by 98.0% during the first quarter. Ameriprise Financial Inc. now owns 1,117,526 shares of the semiconductor company’s stock valued at $111,380,000 after purchasing an additional 553,169 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Cirrus Logic by 131.5% in the first quarter. AQR Capital Management LLC now owns 1,063,813 shares of the semiconductor company’s stock valued at $103,456,000 after purchasing an additional 604,337 shares during the period. Institutional investors and hedge funds own 87.96% of the company’s stock.

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.