Cirrus Logic, Inc. (NASDAQ:CRUS) Receives $146.86 Average Price Target from Analysts

Cirrus Logic, Inc. (NASDAQ:CRUS) has earned a consensus rating of “Moderate Buy” from the eight brokerages that are covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $146.8571.

A number of equities research analysts have recently issued reports on CRUS shares. Wall Street Zen lowered shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Stifel Nicolaus boosted their target price on Cirrus Logic from $150.00 to $163.00 and gave the stock a “buy” rating in a report on Wednesday, February 4th. Barclays upped their price target on Cirrus Logic from $110.00 to $120.00 and gave the company an “equal weight” rating in a research report on Tuesday. Benchmark boosted their price objective on Cirrus Logic from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, February 4th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Cirrus Logic in a report on Monday, December 29th.

Cirrus Logic Trading Down 2.9%

NASDAQ:CRUS opened at $130.37 on Wednesday. The stock has a 50 day moving average of $132.14 and a two-hundred day moving average of $125.24. Cirrus Logic has a 12 month low of $75.83 and a 12 month high of $146.88. The firm has a market cap of $6.65 billion, a P/E ratio of 17.18 and a beta of 1.12.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings results on Tuesday, February 3rd. The semiconductor company reported $2.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.37 by $0.60. Cirrus Logic had a return on equity of 20.41% and a net margin of 20.47%.The firm had revenue of $580.62 million for the quarter, compared to analyst estimates of $531.43 million. During the same period in the previous year, the company posted $2.51 earnings per share. The business’s revenue was up 4.5% on a year-over-year basis. On average, research analysts forecast that Cirrus Logic will post 5.63 earnings per share for the current year.

Insider Activity

In related news, EVP Justin E. Dougherty sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $143.16, for a total transaction of $429,480.00. Following the completion of the sale, the executive vice president directly owned 5,876 shares in the company, valued at approximately $841,208.16. This trade represents a 33.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Scott Thomas sold 3,239 shares of Cirrus Logic stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $141.63, for a total transaction of $458,739.57. Following the transaction, the executive vice president directly owned 30,393 shares in the company, valued at $4,304,560.59. This trade represents a 9.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 28,045 shares of company stock valued at $3,835,300. 1.16% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Diversified Trust Co increased its stake in Cirrus Logic by 0.9% during the third quarter. Diversified Trust Co now owns 8,974 shares of the semiconductor company’s stock worth $1,124,000 after acquiring an additional 78 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of Cirrus Logic by 6.2% in the 4th quarter. Parallel Advisors LLC now owns 1,368 shares of the semiconductor company’s stock valued at $162,000 after purchasing an additional 80 shares during the last quarter. CIBC Private Wealth Group LLC lifted its stake in shares of Cirrus Logic by 29.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 389 shares of the semiconductor company’s stock valued at $46,000 after purchasing an additional 88 shares during the last quarter. Kendall Capital Management grew its holdings in shares of Cirrus Logic by 0.9% during the 4th quarter. Kendall Capital Management now owns 10,600 shares of the semiconductor company’s stock worth $1,256,000 after purchasing an additional 90 shares during the period. Finally, EP Wealth Advisors LLC grew its holdings in shares of Cirrus Logic by 1.7% during the 2nd quarter. EP Wealth Advisors LLC now owns 5,739 shares of the semiconductor company’s stock worth $598,000 after purchasing an additional 95 shares during the period. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

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.