Analysts Set Cirrus Logic, Inc. (NASDAQ:CRUS) Price Target at $146.86

Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) have been given an average rating of “Moderate Buy” by the eight ratings firms that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $146.8571.

Several analysts have issued reports on CRUS shares. Weiss Ratings restated a “hold (c+)” rating on shares of Cirrus Logic in a report on Friday. Benchmark lifted their target price on shares of Cirrus Logic from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, February 4th. Barclays boosted their price target on shares of Cirrus Logic from $110.00 to $120.00 and gave the company an “equal weight” rating in a report on Tuesday, March 3rd. Loop Capital downgraded shares of Cirrus Logic from a “buy” rating to a “hold” rating and set a $130.00 price target for the company. in a research report on Monday, February 2nd. Finally, Stifel Nicolaus raised their price objective on shares of Cirrus Logic from $150.00 to $163.00 and gave the stock a “buy” rating in a research note on Wednesday, February 4th.

Insider Activity

In other news, EVP Scott Thomas sold 3,239 shares of Cirrus Logic stock in a transaction on Friday, February 13th. The stock was sold at an average price of $141.63, for a total transaction of $458,739.57. Following the transaction, the executive vice president owned 30,393 shares in the company, valued at approximately $4,304,560.59. The trade was a 9.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO John Forsyth sold 21,806 shares of the company’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $135.15, for a total value of $2,947,080.90. Following the transaction, the chief executive officer directly owned 50,723 shares in the company, valued at $6,855,213.45. The trade was a 30.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 28,045 shares of company stock worth $3,835,300 over the last quarter. Corporate insiders own 1.16% of the company’s stock.

Hedge Funds Weigh In On Cirrus Logic

Institutional investors and hedge funds have recently bought and sold shares of the business. Rockefeller Capital Management L.P. increased its holdings in shares of Cirrus Logic by 29.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,567 shares of the semiconductor company’s stock valued at $186,000 after purchasing an additional 354 shares during the period. Corient Private Wealth LLC boosted its holdings in shares of Cirrus Logic by 100.6% during the fourth quarter. Corient Private Wealth LLC now owns 25,768 shares of the semiconductor company’s stock worth $3,055,000 after purchasing an additional 12,923 shares during the period. Caitong International Asset Management Co. Ltd grew its position in Cirrus Logic by 7,333.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 223 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 220 shares in the last quarter. Pacer Advisors Inc. grew its position in Cirrus Logic by 127.9% during the fourth quarter. Pacer Advisors Inc. now owns 421,426 shares of the semiconductor company’s stock valued at $49,939,000 after purchasing an additional 236,501 shares in the last quarter. Finally, Kera Capital Partners Inc. increased its stake in Cirrus Logic by 49.9% in the 4th quarter. Kera Capital Partners Inc. now owns 7,662 shares of the semiconductor company’s stock valued at $999,000 after buying an additional 2,551 shares during the period. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Cirrus Logic Stock Up 4.5%

CRUS opened at $144.62 on Friday. The firm has a market cap of $7.38 billion, a PE ratio of 19.05 and a beta of 1.12. The business has a fifty day simple moving average of $137.71 and a 200-day simple moving average of $128.12. Cirrus Logic has a fifty-two week low of $75.83 and a fifty-two week high of $154.90.

Cirrus Logic (NASDAQ:CRUS) last announced its earnings results on Tuesday, February 3rd. The semiconductor company reported $2.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.37 by $0.60. Cirrus Logic had a return on equity of 20.41% and a net margin of 20.47%.The company had revenue of $580.62 million for the quarter, compared to analyst estimates of $531.43 million. During the same period in the previous year, the firm earned $2.51 earnings per share. Cirrus Logic’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, equities research analysts anticipate that Cirrus Logic will post 5.63 EPS for the current fiscal year.

About Cirrus Logic

Cirrus Logic, Inc, headquartered in Austin, Texas, is a fabless semiconductor company specializing in high-precision analog and mixed-signal processing solutions. The firm develops low-power, high-performance audio, voice, and power management integrated circuits, serving prominent consumer electronics OEMs. Its semiconductor devices are designed to enhance audio quality, battery life, and system integration in mobile phones, tablets, wireless headsets and other portable devices.

The company’s product portfolio includes digital-to-analog converters (DACs), analog-to-digital converters (ADCs), audio codecs, power management ICs, voice processors and integrated amplifiers.