KeyCorp Boosts Cirrus Logic (NASDAQ:CRUS) Price Target to $120.00

Cirrus Logic (NASDAQ:CRUS) had its price target upped by analysts at KeyCorp from $100.00 to $120.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the semiconductor company’s stock. KeyCorp’s price objective would indicate a potential upside of 20.13% from the stock’s previous close.

CRUS has been the subject of several other reports. TD Cowen lifted their target price on shares of Cirrus Logic from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday. Stifel Nicolaus increased their target price on Cirrus Logic from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday. Susquehanna lifted their price target on Cirrus Logic from $100.00 to $120.00 and gave the company a “positive” rating in a report on Wednesday. TheStreet upgraded shares of Cirrus Logic from a “c+” rating to a “b-” rating in a report on Tuesday, January 23rd. Finally, StockNews.com downgraded shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 20th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Cirrus Logic has a consensus rating of “Buy” and an average target price of $107.86.

Cirrus Logic Stock Performance

Cirrus Logic stock traded up $8.76 during midday trading on Wednesday, reaching $99.89. 1,071,206 shares of the company were exchanged, compared to its average volume of 421,266. The firm’s 50-day simple moving average is $89.63 and its 200-day simple moving average is $83.17. Cirrus Logic has a 1 year low of $65.02 and a 1 year high of $103.30. The company has a market capitalization of $5.38 billion, a price-to-earnings ratio of 31.88 and a beta of 0.99.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $2.53 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.83. The business had revenue of $618.98 million during the quarter, compared to the consensus estimate of $539.55 million. Cirrus Logic had a net margin of 9.84% and a return on equity of 16.13%. On average, analysts forecast that Cirrus Logic will post 4.79 EPS for the current fiscal year.

Insider Transactions at Cirrus Logic

In related news, VP Andrew Brannan sold 3,250 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $94.00, for a total value of $305,500.00. Following the transaction, the vice president now owns 6,055 shares in the company, valued at $569,170. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, VP Andrew Brannan sold 3,250 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $94.00, for a total value of $305,500.00. Following the completion of the sale, the vice president now directly owns 6,055 shares in the company, valued at approximately $569,170. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Venkatesh Nathamuni sold 1,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $95.00, for a total value of $95,000.00. Following the transaction, the chief financial officer now owns 1,587 shares in the company, valued at approximately $150,765. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,530 shares of company stock worth $700,292. 0.89% of the stock is currently owned by company insiders.

Institutional Trading of Cirrus Logic

Several large investors have recently bought and sold shares of CRUS. MQS Management LLC lifted its position in shares of Cirrus Logic by 4.0% during the third quarter. MQS Management LLC now owns 4,298 shares of the semiconductor company’s stock worth $318,000 after purchasing an additional 164 shares in the last quarter. Truvestments Capital LLC boosted its position in Cirrus Logic by 5.2% in the 3rd quarter. Truvestments Capital LLC now owns 3,462 shares of the semiconductor company’s stock valued at $256,000 after buying an additional 171 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Cirrus Logic by 0.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 26,963 shares of the semiconductor company’s stock valued at $1,994,000 after acquiring an additional 172 shares in the last quarter. Covestor Ltd lifted its stake in shares of Cirrus Logic by 13.2% in the third quarter. Covestor Ltd now owns 1,492 shares of the semiconductor company’s stock worth $110,000 after acquiring an additional 174 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its holdings in Cirrus Logic by 93.7% in the fourth quarter. Venturi Wealth Management LLC now owns 368 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 178 shares during the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

Cirrus Logic Company Profile

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 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 digital signal processing; boosted amplifiers; 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.