Cirrus Logic, Inc. (NASDAQ:CRUS) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) have received a consensus rating of “Moderate Buy” from the seven brokerages that are covering the company, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $143.33.

Several equities analysts recently issued reports on the company. Stifel Nicolaus increased their target price on Cirrus Logic from $110.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Susquehanna lifted their price objective on shares of Cirrus Logic from $120.00 to $175.00 and gave the company a “positive” rating in a report on Wednesday, July 17th. KeyCorp increased their target price on shares of Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. StockNews.com lowered Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 15th. Finally, Barclays boosted their price objective on Cirrus Logic from $110.00 to $140.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th.

Cirrus Logic Stock Performance

CRUS opened at $121.60 on Wednesday. The business’s 50 day moving average price is $132.22 and its 200 day moving average price is $116.60. The stock has a market capitalization of $6.50 billion, a PE ratio of 24.67 and a beta of 0.97. Cirrus Logic has a one year low of $65.02 and a one year high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last posted its earnings results on Tuesday, August 6th. The semiconductor company reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.50. The company had revenue of $374.03 million for the quarter, compared to analysts’ expectations of $318.41 million. Cirrus Logic had a net margin of 16.31% and a return on equity of 17.42%. Cirrus Logic’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.35 earnings per share. As a group, equities research analysts forecast that Cirrus Logic will post 5.26 earnings per share for the current fiscal year.

Insider Activity

In related news, VP Andrew Brannan sold 4,350 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $136.04, for a total transaction of $591,774.00. Following the transaction, the vice president now owns 4,004 shares in the company, valued at approximately $544,704.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, VP Andrew Brannan sold 4,350 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $136.04, for a total value of $591,774.00. Following the completion of the sale, the vice president now directly owns 4,004 shares of the company’s stock, valued at $544,704.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Justin E. Dougherty sold 10,203 shares of Cirrus Logic stock in a transaction on Friday, August 9th. The shares were sold at an average price of $131.71, for a total transaction of $1,343,837.13. Following the completion of the transaction, the senior vice president now directly owns 4,838 shares in the company, valued at $637,212.98. The disclosure for this sale can be found here. Company insiders own 1.02% of the company’s stock.

Hedge Funds Weigh In On Cirrus Logic

Several institutional investors have recently added to or reduced their stakes in the stock. Atlas Capital Advisors LLC increased its stake in Cirrus Logic by 103.0% in the 1st quarter. Atlas Capital Advisors LLC now owns 402 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 204 shares during the period. Quadrant Capital Group LLC lifted its position in Cirrus Logic by 72.3% in the fourth quarter. Quadrant Capital Group LLC now owns 510 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 214 shares during the period. Versant Capital Management Inc boosted its holdings in Cirrus Logic by 1,911.1% in the 2nd quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company’s stock valued at $46,000 after purchasing an additional 344 shares in the last quarter. GAMMA Investing LLC increased its position in Cirrus Logic by 79.5% during the 2nd quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company’s stock worth $61,000 after purchasing an additional 210 shares during the period. Finally, 1620 Investment Advisors Inc. acquired a new position in Cirrus Logic during the 2nd quarter worth approximately $77,000. 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.