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

Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) have been assigned an average rating of “Hold” from the nine analysts that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $150.71.

Several brokerages recently weighed in on CRUS. Barclays decreased their target price on Cirrus Logic from $140.00 to $130.00 and set an “equal weight” rating for the company in a research note on Thursday, August 6th. Wall Street Zen cut shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Sunday. Weiss Ratings raised shares of Cirrus Logic from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday. KeyCorp downgraded shares of Cirrus Logic from an “overweight” rating to a “sector weight” rating in a research report on Thursday. Finally, Stifel Nicolaus dropped their target price on Cirrus Logic from $197.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th.

Cirrus Logic Stock Performance

Shares of CRUS stock opened at $108.60 on Thursday. The stock has a fifty day moving average of $115.43 and a two-hundred day moving average of $141.30. The firm has a market capitalization of $5.44 billion, a PE ratio of 13.29 and a beta of 1.17. Cirrus Logic has a 1 year low of $105.10 and a 1 year high of $180.42.

Cirrus Logic (NASDAQ:CRUS) last released its earnings results on Wednesday, August 5th. The semiconductor company reported $1.84 EPS for the quarter, beating the consensus estimate of $1.81 by $0.03. Cirrus Logic had a net margin of 21.00% and a return on equity of 20.61%. The firm had revenue of $459.72 million for the quarter, compared to analysts’ expectations of $460.32 million. During the same quarter last year, the company earned $1.51 EPS. Cirrus Logic’s quarterly revenue was up 12.9% on a year-over-year basis. Equities research analysts predict that Cirrus Logic will post 7.20 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cirrus Logic news, EVP Jeffrey Baumgartner sold 1,166 shares of the business’s stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $119.00, for a total value of $138,754.00. Following the completion of the sale, the executive vice president owned 12,907 shares of the company’s stock, valued at $1,535,933. The trade was a 8.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.20% of the stock is currently owned by company insiders.

Institutional Trading of Cirrus Logic

A number of institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC increased its position in Cirrus Logic by 3.8% during the third quarter. GAMMA Investing LLC now owns 2,742 shares of the semiconductor company’s stock worth $329,000 after buying an additional 100 shares during the last quarter. Diversified Trust Co increased its position in Cirrus Logic by 1.1% during the 1st quarter. Diversified Trust Co now owns 9,097 shares of the semiconductor company’s stock worth $1,316,000 after buying an additional 102 shares during the period. Wedmont Private Capital raised its stake in Cirrus Logic by 6.9% in the 2nd quarter. Wedmont Private Capital now owns 1,644 shares of the semiconductor company’s stock worth $247,000 after purchasing an additional 106 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Cirrus Logic by 120.0% in the first quarter. Geneos Wealth Management Inc. now owns 220 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 120 shares during the period. Finally, Elevation Wealth Partners LLC lifted its position in shares of Cirrus Logic by 72.5% during the 2nd quarter. Elevation Wealth Partners LLC now owns 295 shares of the semiconductor company’s stock valued at $44,000 after acquiring an additional 124 shares during the period. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Cirrus Logic Company Profile

Cirrus Logic, Inc is a fabless semiconductor company that designs high-performance, low-power analog and mixed-signal integrated circuits. Its products are used to process, manage and enhance audio and other signals in electronic devices, including smartphones, tablets, laptops, headphones, smart speakers and automotive systems.

The company’s product portfolio includes audio codecs, digital-to-analog and analog-to-digital converters, amplifiers, haptic controllers, sensing solutions and power-management components.