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

Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) have earned a consensus recommendation of “Moderate Buy” from the nine analysts that are presently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $150.7143.

A number of equities analysts have issued reports on CRUS shares. Jefferies Financial Group upgraded shares of Cirrus Logic to a “buy” rating in a research report on Thursday, June 4th. Zacks Research lowered shares of Cirrus Logic from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. KeyCorp lowered their price target on shares of Cirrus Logic from $190.00 to $170.00 and set an “overweight” rating on the stock in a research report on Thursday. Barclays dropped their price objective on shares of Cirrus Logic from $140.00 to $130.00 and set an “equal weight” rating for the company in a research note on Thursday. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Cirrus Logic in a research report on Wednesday, June 24th.

Insider Activity at Cirrus Logic

In related news, EVP Justin E. Dougherty sold 2,000 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $166.50, for a total transaction of $333,000.00. Following the sale, the executive vice president owned 4,537 shares of the company’s stock, valued at $755,410.50. This trade represents a 30.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 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 owned 17,575 shares of the company’s stock, valued at approximately $2,962,090.50. This represents a 18.19% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 18,465 shares of company stock valued at $2,891,169 in the last ninety days. 1.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Cirrus Logic

Several hedge funds have recently modified their holdings of CRUS. Parallel Advisors LLC lifted its position 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 worth $162,000 after buying an additional 80 shares during the last quarter. CIBC Private Wealth Group LLC grew its position in shares of Cirrus Logic by 29.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 389 shares of the semiconductor company’s stock valued at $46,000 after buying an additional 88 shares during the last quarter. Kendall Capital Management grew its position 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 valued at $1,256,000 after buying an additional 90 shares during the last quarter. EP Wealth Advisors LLC raised its stake in Cirrus Logic by 1.7% during the second quarter. EP Wealth Advisors LLC now owns 5,739 shares of the semiconductor company’s stock worth $598,000 after acquiring an additional 95 shares during the period. Finally, Diversified Trust Co raised its stake in Cirrus Logic by 1.1% during the first quarter. Diversified Trust Co now owns 9,097 shares of the semiconductor company’s stock worth $1,316,000 after acquiring an additional 102 shares during the period. 87.96% of the stock is owned by institutional investors and hedge funds.

Cirrus Logic Stock Performance

Cirrus Logic stock opened at $124.92 on Friday. Cirrus Logic has a fifty-two week low of $99.78 and a fifty-two week high of $180.42. The firm has a market capitalization of $6.30 billion, a price-to-earnings ratio of 15.29 and a beta of 1.18. The stock’s fifty day moving average is $148.68 and its two-hundred day moving average is $148.99.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results on Wednesday, August 5th. The semiconductor company reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.81 by $0.03. Cirrus Logic had a return on equity of 20.61% and a net margin of 21.00%.The business had revenue of $459.72 million during the quarter, compared to the consensus estimate of $460.32 million. During the same quarter in the previous year, the company posted $1.51 EPS. The business’s revenue was up 12.9% on a year-over-year basis. As a group, sell-side analysts forecast that Cirrus Logic will post 7.86 EPS 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.