Brokerages Set Cirrus Logic, Inc. (NASDAQ:CRUS) Target Price at $96.43

Cirrus Logic, Inc. (NASDAQ:CRUS) has been assigned an average recommendation of “Buy” from the six brokerages that are presently covering the stock, Marketbeat reports. Six research analysts have rated the stock with a buy recommendation. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $96.43.

Several equities research analysts recently commented on the stock. TD Cowen boosted their price target on shares of Cirrus Logic from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. StockNews.com lowered shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 21st. TheStreet raised shares of Cirrus Logic from a “c+” rating to a “b-” rating in a report on Tuesday, January 23rd. Stifel Nicolaus upped their target price on shares of Cirrus Logic from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Finally, Barclays upped their target price on shares of Cirrus Logic from $90.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, January 16th.

Insider Activity at Cirrus Logic

In related news, CFO Venkatesh Nathamuni sold 1,000 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. Following the completion of the sale, the chief financial officer now owns 1,587 shares of the company’s stock, valued at $150,765. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Venkatesh Nathamuni sold 1,000 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. Following the completion of the sale, the chief financial officer now owns 1,587 shares of the company’s stock, valued at $150,765. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Justin E. Dougherty sold 3,280 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $91.40, for a total transaction of $299,792.00. Following the completion of the sale, the senior vice president now directly owns 6,000 shares of the company’s stock, valued at approximately $548,400. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,530 shares of company stock valued at $700,292. 0.89% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cirrus Logic

Hedge funds have recently modified their holdings of the company. US Bancorp DE lifted its position in Cirrus Logic by 12.3% in the first quarter. US Bancorp DE now owns 1,711 shares of the semiconductor company’s stock valued at $145,000 after buying an additional 188 shares during the last quarter. MetLife Investment Management LLC lifted its position in Cirrus Logic by 33.8% in the first quarter. MetLife Investment Management LLC now owns 37,038 shares of the semiconductor company’s stock valued at $3,140,000 after buying an additional 9,349 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Cirrus Logic by 10.8% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,994 shares of the semiconductor company’s stock valued at $1,780,000 after buying an additional 2,051 shares during the last quarter. Great West Life Assurance Co. Can lifted its position in Cirrus Logic by 8.9% in the first quarter. Great West Life Assurance Co. Can now owns 31,668 shares of the semiconductor company’s stock valued at $2,759,000 after buying an additional 2,600 shares during the last quarter. Finally, Yousif Capital Management LLC lifted its position in Cirrus Logic by 1.6% in the first quarter. Yousif Capital Management LLC now owns 30,028 shares of the semiconductor company’s stock valued at $2,546,000 after buying an additional 468 shares during the last quarter. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Cirrus Logic Stock Performance

Shares of NASDAQ CRUS opened at $93.56 on Wednesday. The firm has a market cap of $5.04 billion, a PE ratio of 29.70 and a beta of 1.00. The firm has a fifty day moving average of $89.89 and a 200 day moving average of $80.97. Cirrus Logic has a one year low of $65.02 and a one year high of $103.90.

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

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 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.