Cirrus Logic, Inc. (NASDAQ:CRUS) Stock Has Average Price Target of $150.71

Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) have received an average recommendation of “Hold” from the nine ratings firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $150.71.

CRUS has been the subject of several research reports. Stifel Nicolaus decreased their price objective on shares of Cirrus Logic from $197.00 to $160.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cirrus Logic in a research note on Monday, September 21st. Wall Street Zen cut shares of Cirrus Logic from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. KeyCorp decreased their target price on shares of Cirrus Logic from $190.00 to $170.00 and set an “overweight” rating for the company in a research report on Thursday, August 6th. Finally, Zacks Research lowered shares of Cirrus Logic from a “hold” rating to a “strong sell” rating in a report on Friday, August 14th.

Insider Transactions at Cirrus Logic

In other news, EVP Andrew Brannan sold 6,464 shares of the business’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $144.71, for a total value of $935,405.44. Following the completion of the transaction, the executive vice president owned 7,203 shares of the company’s stock, valued at $1,042,346.13. The trade was a 47.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jeffrey Baumgartner sold 1,458 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $145.97, for a total value of $212,824.26. Following the completion of the sale, the executive vice president owned 16,405 shares in the company, valued at $2,394,637.85. The trade was a 8.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 11,420 shares of company stock valued at $1,586,016 in the last quarter. Company insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Cirrus Logic

Several hedge funds have recently bought and sold shares of the stock. Geneos Wealth Management Inc. increased its holdings in shares of Cirrus Logic by 120.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 220 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 120 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in Cirrus Logic by 7,333.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 223 shares of the semiconductor company’s stock worth $26,000 after buying an additional 220 shares in the last quarter. Elevation Wealth Partners LLC boosted its holdings in Cirrus Logic by 72.5% during the second quarter. Elevation Wealth Partners LLC now owns 295 shares of the semiconductor company’s stock worth $44,000 after buying an additional 124 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in Cirrus Logic during the second quarter valued at $66,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in Cirrus Logic during the second quarter valued at $74,000. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Cirrus Logic Stock Up 0.9%

Shares of NASDAQ:CRUS opened at $119.92 on Friday. Cirrus Logic has a 52-week low of $106.26 and a 52-week high of $180.42. The stock has a market cap of $6.01 billion, a price-to-earnings ratio of 14.68 and a beta of 1.16. The business has a 50-day moving average price of $121.20 and a 200-day moving average price of $143.98.

Cirrus Logic (NASDAQ:CRUS) last issued its earnings results on Wednesday, August 5th. The semiconductor company reported $1.84 EPS for the quarter, beating analysts’ consensus estimates of $1.81 by $0.03. Cirrus Logic had a return on equity of 20.61% and a net margin of 21.00%.The firm had revenue of $459.72 million for the quarter, compared to analyst estimates of $460.32 million. During the same quarter in the prior year, the firm earned $1.51 earnings per share. Cirrus Logic’s revenue for the quarter was up 12.9% on a year-over-year basis. As a group, equities analysts anticipate that Cirrus Logic will post 7.32 EPS for the current fiscal year.

About Cirrus Logic

Cirrus Logic, Inc (NASDAQ: CRUS) is a fabless semiconductor company that develops high-performance, low-power integrated circuits and related software. Its products are designed to process audio and other mixed-signal information in electronic devices, helping manufacturers deliver high-quality sound, efficient power management and responsive user experiences.

The company’s product portfolio includes audio codecs, digital-to-analog and analog-to-digital converters, amplifiers, smart codecs, haptic-control solutions and other mixed-signal components.