Cirrus Logic (NASDAQ:CRUS) Given New $112.00 Price Target at Stifel Nicolaus

Cirrus Logic (NASDAQ:CRUS) had its price target dropped by equities researchers at Stifel Nicolaus from $140.00 to $112.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 30.01% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Barclays lifted their target price on shares of Cirrus Logic from $105.00 to $115.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. Benchmark reiterated a “buy” rating and set a $125.00 price target on shares of Cirrus Logic in a research report on Wednesday, March 19th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $128.86.

Cirrus Logic Trading Up 0.7 %

CRUS stock opened at $86.15 on Thursday. Cirrus Logic has a 12 month low of $75.83 and a 12 month high of $147.46. The stock has a market cap of $4.58 billion, a PE ratio of 15.66 and a beta of 0.95. The company has a 50-day moving average price of $99.39 and a 200 day moving average price of $104.70.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.21). Cirrus Logic had a return on equity of 16.60% and a net margin of 16.55%. Sell-side analysts forecast that Cirrus Logic will post 5.63 EPS for the current year.

Insider Transactions at Cirrus Logic

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $100.00, for a total transaction of $205,100.00. Following the sale, the executive vice president now directly owns 8,330 shares in the company, valued at $833,000. This represents a 19.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.02% of the company’s stock.

Institutional Investors Weigh In On Cirrus Logic

Several institutional investors have recently modified their holdings of the company. Westside Investment Management Inc. acquired a new position in Cirrus Logic in the third quarter valued at $35,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Cirrus Logic in the 4th quarter valued at $28,000. Headlands Technologies LLC acquired a new stake in Cirrus Logic during the 4th quarter worth $39,000. Sound Income Strategies LLC purchased a new position in Cirrus Logic during the 4th quarter worth $46,000. Finally, R Squared Ltd purchased a new stake in shares of Cirrus Logic in the fourth quarter valued at about $47,000. 87.96% of the stock is owned by hedge funds and other institutional investors.

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.