Cirrus Logic, Inc. (NASDAQ:CRUS) Stock Has Consensus Target Price of $150.71

Cirrus Logic, Inc. (NASDAQ:CRUS) has received a consensus recommendation of “Hold” from the nine research firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $150.71.

Several research firms have recently commented on CRUS. KeyCorp decreased their price target on shares of Cirrus Logic from $190.00 to $170.00 and set an “overweight” rating for the company in a report on Thursday, August 6th. Stifel Nicolaus dropped their price objective on shares of Cirrus Logic from $197.00 to $160.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Barclays cut their target price on shares of Cirrus Logic from $140.00 to $130.00 and set an “equal weight” rating on the stock in a report on Thursday, August 6th. Wall Street Zen downgraded Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Jefferies Financial Group raised Cirrus Logic to a “buy” rating in a report on Thursday, June 4th.

Cirrus Logic Trading Down 1.4%

Shares of CRUS opened at $118.80 on Friday. The firm has a market cap of $5.95 billion, a price-to-earnings ratio of 14.54 and a beta of 1.16. The stock has a 50 day moving average of $121.57 and a 200-day moving average of $144.14. Cirrus Logic has a 52 week low of $106.26 and a 52 week high of $180.42.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings results on Wednesday, August 5th. The semiconductor company reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.81 by $0.03. Cirrus Logic had a return on equity of 20.61% and a net margin of 21.00%.The business had revenue of $459.72 million for the quarter, compared to analyst estimates of $460.32 million. During the same period in the prior year, the company posted $1.51 EPS. The business’s revenue was up 12.9% compared to the same quarter last year. On average, sell-side analysts predict that Cirrus Logic will post 7.32 earnings per share for the current fiscal year.

Insider Buying and Selling at Cirrus Logic

In related news, EVP Jeffrey W. Baumgartner sold 1,458 shares of Cirrus Logic stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $145.97, for a total value of $212,824.26. Following the sale, the executive vice president directly owned 16,405 shares in the company, valued at $2,394,637.85. This trade represents a 8.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Andrew Brannan sold 6,464 shares of the business’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $144.71, for a total transaction of $935,405.44. Following the transaction, the executive vice president directly owned 7,203 shares of the company’s stock, valued at $1,042,346.13. The trade was a 47.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 11,420 shares of company stock valued at $1,586,016. Corporate insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Cirrus Logic

Several large investors have recently made changes to their positions in CRUS. QRG Capital Management Inc. raised its holdings in shares of Cirrus Logic by 7.9% during the second quarter. QRG Capital Management Inc. now owns 7,457 shares of the semiconductor company’s stock valued at $1,108,000 after buying an additional 545 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in Cirrus Logic in the 2nd quarter worth approximately $444,000. Sequoia Financial Advisors LLC grew its holdings in Cirrus Logic by 3.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 7,477 shares of the semiconductor company’s stock worth $1,111,000 after buying an additional 218 shares in the last quarter. Tidal Investments LLC increased its position in Cirrus Logic by 89.1% in the 2nd quarter. Tidal Investments LLC now owns 13,923 shares of the semiconductor company’s stock valued at $2,068,000 after acquiring an additional 6,559 shares during the period. Finally, Archford Capital Strategies LLC acquired a new stake in Cirrus Logic in the 2nd quarter valued at approximately $1,186,000. Institutional investors and hedge funds own 87.96% of the company’s stock.

Cirrus Logic Company Profile

Cirrus Logic, Inc (NASDAQ: CRUS) is a fabless semiconductor company that develops high-performance, low-power integrated circuits and related software. Its products are designed to process audio and other mixed-signal information in electronic devices, helping manufacturers deliver high-quality sound, efficient power management and responsive user experiences.

The company’s product portfolio includes audio codecs, digital-to-analog and analog-to-digital converters, amplifiers, smart codecs, haptic-control solutions and other mixed-signal components.