Cirrus Logic (NASDAQ:CRUS) Price Target Lowered to $80.00 at Barclays

Cirrus Logic (NASDAQ:CRUS) had its price objective cut by Barclays from $115.00 to $80.00 in a report released on Tuesday,Benzinga reports. They currently have an equal weight rating on the semiconductor company’s stock.

Several other equities research analysts have also recently weighed in on the stock. Benchmark reiterated a “buy” rating and issued a $125.00 target price on shares of Cirrus Logic in a research note on Wednesday, March 19th. Stifel Nicolaus decreased their price objective on Cirrus Logic from $140.00 to $112.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $123.86.

Cirrus Logic Stock Up 1.1 %

Shares of NASDAQ CRUS opened at $86.74 on Tuesday. Cirrus Logic has a 12 month low of $75.83 and a 12 month high of $147.46. The company has a market cap of $4.61 billion, a P/E ratio of 15.74 and a beta of 0.95. The business’s 50 day moving average is $97.89 and its two-hundred day moving average is $103.62.

Cirrus Logic (NASDAQ:CRUS) last announced its 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 expect that Cirrus Logic will post 5.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Cirrus Logic

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $100.00, for a total transaction of $205,100.00. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.02% of the company’s stock.

Institutional Investors Weigh In On Cirrus Logic

A number of hedge funds have recently made changes to their positions in the company. Arizona State Retirement System grew its stake in Cirrus Logic by 0.7% during the fourth quarter. Arizona State Retirement System now owns 15,492 shares of the semiconductor company’s stock worth $1,543,000 after buying an additional 101 shares during the last quarter. Truvestments Capital LLC grew its position in Cirrus Logic by 3.5% during the 4th quarter. Truvestments Capital LLC now owns 3,981 shares of the semiconductor company’s stock worth $396,000 after acquiring an additional 133 shares during the last quarter. Ritholtz Wealth Management increased its holdings in Cirrus Logic by 4.1% during the 4th quarter. Ritholtz Wealth Management now owns 3,925 shares of the semiconductor company’s stock valued at $391,000 after purchasing an additional 153 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Cirrus Logic by 17.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,057 shares of the semiconductor company’s stock valued at $105,000 after purchasing an additional 155 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in Cirrus Logic by 0.3% in the first quarter. State of Alaska Department of Revenue now owns 55,852 shares of the semiconductor company’s stock worth $5,565,000 after purchasing an additional 165 shares in the last quarter. 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.