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

Cirrus Logic, Inc. (NASDAQ:CRUS) has been given an average recommendation of “Moderate Buy” by the nine brokerages that are presently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $161.7143.

Several analysts have recently issued reports on the company. Stifel Nicolaus set a $197.00 price target on Cirrus Logic in a research note on Thursday, May 7th. Barclays boosted their target price on Cirrus Logic from $120.00 to $140.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. Jefferies Financial Group raised Cirrus Logic to a “buy” rating in a research report on Thursday, June 4th. Zacks Research downgraded Cirrus Logic from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Finally, KeyCorp lifted their price target on shares of Cirrus Logic from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th.

Insider Activity at Cirrus Logic

In related news, EVP Scott Thomas sold 9,942 shares of the stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $160.11, for a total value of $1,591,813.62. Following the completion of the sale, the executive vice president owned 30,393 shares in the company, valued at approximately $4,866,223.23. This trade represents a 24.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jeffrey W. Baumgartner sold 3,907 shares of Cirrus Logic stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $168.54, for a total value of $658,485.78. Following the sale, the executive vice president directly owned 17,575 shares in the company, valued at approximately $2,962,090.50. This trade represents a 18.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 32,241 shares of company stock valued at $5,173,460. 1.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cirrus Logic

Several large investors have recently made changes to their positions in CRUS. Geneos Wealth Management Inc. boosted its position in Cirrus Logic by 120.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 220 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 120 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in Cirrus Logic by 7,333.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 223 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 220 shares during the last quarter. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Cirrus Logic in the 4th quarter valued at about $33,000. Torren Management LLC acquired a new stake in Cirrus Logic in the fourth quarter worth $35,000. Finally, Kestra Advisory Services LLC acquired a new stake in Cirrus Logic during the 4th quarter worth $36,000. Institutional investors own 87.96% of the company’s stock.

Cirrus Logic Stock Down 2.4%

Shares of CRUS stock traded down $3.62 during trading hours on Tuesday, reaching $145.21. 26,536 shares of the stock traded hands, compared to its average volume of 629,303. Cirrus Logic has a 1-year low of $92.02 and a 1-year high of $180.42. The business has a fifty day moving average price of $163.72 and a 200 day moving average price of $146.55. The firm has a market capitalization of $7.33 billion, a PE ratio of 18.52 and a beta of 1.17.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings results on Wednesday, May 6th. The semiconductor company reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.19. The firm had revenue of $448.52 million for the quarter, compared to analyst estimates of $442.25 million. Cirrus Logic had a return on equity of 20.48% and a net margin of 20.75%.Cirrus Logic’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.67 earnings per share. Research analysts expect that Cirrus Logic will post 8.05 earnings per share for the current fiscal year.

About Cirrus Logic

Cirrus Logic, Inc, headquartered in Austin, Texas, is a fabless semiconductor company specializing in high-precision analog and mixed-signal processing solutions. The firm develops low-power, high-performance audio, voice, and power management integrated circuits, serving prominent consumer electronics OEMs. Its semiconductor devices are designed to enhance audio quality, battery life, and system integration in mobile phones, tablets, wireless headsets and other portable devices.

The company’s product portfolio includes digital-to-analog converters (DACs), analog-to-digital converters (ADCs), audio codecs, power management ICs, voice processors and integrated amplifiers.