Barclays Cuts Cirrus Logic (NASDAQ:CRUS) Price Target to $105.00

Cirrus Logic (NASDAQ:CRUS) had its price target lowered by Barclays from $120.00 to $105.00 in a research note published on Tuesday morning,Benzinga reports. The firm currently has an equal weight rating on the semiconductor company’s stock.

A number of other research firms have also recently issued reports on CRUS. Stifel Nicolaus lifted their target price on shares of Cirrus Logic from $110.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. StockNews.com lowered Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. KeyCorp raised their target price on Cirrus Logic from $155.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Finally, Susquehanna reduced their price target on shares of Cirrus Logic from $160.00 to $135.00 and set a “positive” rating on the stock in a research report on Tuesday. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $132.00.

Cirrus Logic Stock Down 0.5 %

NASDAQ CRUS opened at $103.55 on Tuesday. Cirrus Logic has a twelve month low of $69.23 and a twelve month high of $147.46. The stock has a market cap of $5.53 billion, a P/E ratio of 17.55 and a beta of 0.96. The company’s 50-day simple moving average is $123.31 and its 200 day simple moving average is $121.98.

Cirrus Logic (NASDAQ:CRUS) last issued its earnings results on Monday, November 4th. The semiconductor company reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.23. The business had revenue of $541.90 million during the quarter, compared to analysts’ expectations of $520.53 million. Cirrus Logic had a return on equity of 18.42% and a net margin of 17.19%. Cirrus Logic’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.43 EPS. Research analysts anticipate that Cirrus Logic will post 5.37 earnings per share for the current year.

Insider Buying and Selling

In other news, VP Andrew Brannan sold 4,350 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $136.04, for a total value of $591,774.00. Following the transaction, the vice president now owns 4,004 shares of the company’s stock, valued at approximately $544,704.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.02% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Cirrus Logic by 2.1% in the first quarter. Vanguard Group Inc. now owns 6,363,188 shares of the semiconductor company’s stock valued at $588,977,000 after purchasing an additional 128,393 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in shares of Cirrus Logic by 13.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 48,030 shares of the semiconductor company’s stock valued at $4,446,000 after acquiring an additional 5,645 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Cirrus Logic by 52.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 961 shares of the semiconductor company’s stock valued at $123,000 after acquiring an additional 329 shares during the period. Susquehanna Fundamental Investments LLC boosted its stake in Cirrus Logic by 741.0% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 27,754 shares of the semiconductor company’s stock worth $3,543,000 after acquiring an additional 24,454 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in Cirrus Logic by 6.6% during the first quarter. Sei Investments Co. now owns 696,895 shares of the semiconductor company’s stock valued at $64,505,000 after purchasing an additional 42,897 shares during the period. 87.96% of the stock is currently owned by institutional investors.

Cirrus Logic Company Profile

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.