Cirrus Logic (CRUS) – Analysts’ Recent Ratings Changes

Posted by Casey Walker on Nov 7th, 2024

Several analysts have recently updated their ratings and price targets for Cirrus Logic (NASDAQ: CRUS):

11/5/2024 – Cirrus Logic had its price target lowered by analysts at Susquehanna from $160.00 to $135.00. They now have a “positive” rating on the stock.
11/5/2024 – Cirrus Logic had its price target lowered by analysts at Barclays PLC from $120.00 to $105.00. They now have an “equal weight” rating on the stock.
11/5/2024 – Cirrus Logic had its price target lowered by analysts at Stifel Nicolaus from $165.00 to $140.00. They now have a “buy” rating on the stock.
10/21/2024 – Cirrus Logic had its price target lowered by analysts at Susquehanna from $175.00 to $160.00. They now have a “positive” rating on the stock.
10/10/2024 – Cirrus Logic was downgraded by analysts at Barclays PLC from an “overweight” rating to an “equal weight” rating. They now have a $120.00 price target on the stock, down previously from $140.00.
10/9/2024 – Cirrus Logic was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
10/1/2024 – Cirrus Logic was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.

Cirrus Logic Stock Performance

Shares of NASDAQ CRUS traded up $1.32 during trading hours on Wednesday, hitting $104.11. The company’s stock had a trading volume of 1,085,050 shares, compared to its average volume of 506,333. The business has a 50-day simple moving average of $124.88 and a 200-day simple moving average of $122.24. The stock has a market cap of $5.56 billion, a price-to-earnings ratio of 19.24 and a beta of 0.96. Cirrus Logic, Inc. has a 12 month low of $69.23 and a 12 month high of $147.46.

Cirrus Logic (NASDAQ:CRUS – Get Free Report) last released its quarterly earnings results on Monday, November 4th. The semiconductor company reported $2.25 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.23. Cirrus Logic had a net margin of 16.31% and a return on equity of 17.42%. The business had revenue of $541.90 million for the quarter, compared to analysts’ expectations of $520.53 million. During the same quarter in the previous year, the business posted $1.43 earnings per share. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. On average, equities research analysts forecast that Cirrus Logic, Inc. will post 5.37 EPS for the current year.

Insider Buying and Selling

In other news, SVP Justin E. Dougherty sold 10,203 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $131.71, for a total value of $1,343,837.13. Following the sale, the senior vice president now directly owns 4,838 shares of the company’s stock, valued at $637,212.98. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Cirrus Logic news, VP Andrew Brannan sold 4,350 shares of the business’s stock in a transaction dated 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 transaction, the vice president now owns 4,004 shares of the company’s stock, valued at approximately $544,704.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Justin E. Dougherty sold 10,203 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 4,838 shares of the company’s stock, valued at $637,212.98. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.02% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cirrus Logic

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in Cirrus Logic by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 6,363,188 shares of the semiconductor company’s stock worth $588,977,000 after purchasing an additional 128,393 shares during the period. State Board of Administration of Florida Retirement System lifted its position in shares of Cirrus Logic by 13.3% during 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 buying an additional 5,645 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Cirrus Logic by 52.1% during 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 increased its holdings in Cirrus Logic by 741.0% in 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 in the last quarter. Finally, Sei Investments Co. raised its stake in Cirrus Logic by 6.6% during the 1st quarter. Sei Investments Co. now owns 696,895 shares of the semiconductor company’s stock worth $64,505,000 after acquiring an additional 42,897 shares during the period. Hedge funds and other institutional investors own 87.96% of the company’s stock.

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.