Cirrus Logic, Inc. (NASDAQ:CRUS) Receives $150.71 Consensus PT from Analysts

Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) have earned an average recommendation of “Hold” from the nine ratings firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $150.7143.

A number of research analysts recently weighed in on CRUS shares. Zacks Research cut shares of Cirrus Logic from a “hold” rating to a “strong sell” rating in a report on Friday, August 14th. Jefferies Financial Group upgraded shares of Cirrus Logic to a “buy” rating in a report on Thursday, June 4th. KeyCorp dropped their price target on shares of Cirrus Logic from $190.00 to $170.00 and set an “overweight” rating for the company in a research note on Thursday, August 6th. Stifel Nicolaus cut their price objective on Cirrus Logic from $197.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Cirrus Logic in a research note on Wednesday, June 24th.

Cirrus Logic Trading Down 2.2%

CRUS opened at $108.48 on Wednesday. The stock’s 50-day moving average price is $133.85 and its 200 day moving average price is $147.51. Cirrus Logic has a 12-month low of $108.12 and a 12-month high of $180.42. The firm has a market cap of $5.44 billion, a price-to-earnings ratio of 13.28 and a beta of 1.18.

Cirrus Logic (NASDAQ:CRUS) last released its earnings results on Wednesday, August 5th. The semiconductor company reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.03. The company had revenue of $459.72 million during the quarter, compared to the consensus estimate of $460.32 million. Cirrus Logic had a return on equity of 20.61% and a net margin of 21.00%.Cirrus Logic’s revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.51 EPS. On average, research analysts forecast that Cirrus Logic will post 7.32 earnings per share for the current year.

Cirrus Logic News Roundup

Here are the key news stories impacting Cirrus Logic this week:

• Positive Sentiment: Zacks modestly raised its FY2029 EPS forecast to $8.73 from $8.58, suggesting some longer-term earnings potential despite the broader downgrade cycle. Cirrus Logic analyst estimates
• Neutral Sentiment: The revised FY2027 EPS estimate of $7.47 matches the current consensus forecast, while the company’s most recent quarterly results showed EPS slightly above expectations and revenue growth of 12.9% year over year. However, those results are not the focus of the latest analyst revisions. Cirrus Logic earnings and estimates
• Negative Sentiment: Zacks cut EPS forecasts across multiple periods, including FY2027 to $7.47 from $8.08, FY2028 to $7.75 from $8.53, Q2 2027 to $2.15 from $2.42, Q3 2027 to $2.48 from $2.76, Q1 2028 to $1.40 from $1.50, Q2 2028 to $2.21 from $2.42, Q3 2028 to $2.71 from $3.04, Q4 2028 to $1.42 from $1.56, and Q1 2029 to $1.52 from $1.54. The breadth of the reductions signals weaker expected earnings momentum and is likely the primary reason CRUS shares are decreasing. Zacks Research estimates for Cirrus Logic

Insiders Place Their Bets

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 transaction of $935,405.44. Following the completion of the transaction, the executive vice president directly owned 7,203 shares of the company’s stock, valued at approximately $1,042,346.13. The trade was a 47.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Scott Thomas sold 1,300 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $180.04, for a total transaction of $234,052.00. Following the sale, the executive vice president owned 31,048 shares in the company, valued at $5,589,881.92. The trade was a 4.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 16,631 shares of company stock worth $2,536,629 in the last quarter. 1.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. HighTower Advisors LLC raised its holdings in shares of Cirrus Logic by 11.2% in the 2nd quarter. HighTower Advisors LLC now owns 16,119 shares of the semiconductor company’s stock valued at $2,394,000 after purchasing an additional 1,619 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Cirrus Logic during the second quarter worth $4,410,000. California State Teachers Retirement System grew its stake in shares of Cirrus Logic by 14,777.9% during the second quarter. California State Teachers Retirement System now owns 8,769,954 shares of the semiconductor company’s stock worth $1,302,601,000 after purchasing an additional 8,711,008 shares in the last quarter. Wedmont Private Capital increased its holdings in Cirrus Logic by 6.9% in the second quarter. Wedmont Private Capital now owns 1,644 shares of the semiconductor company’s stock valued at $247,000 after buying an additional 106 shares during the last quarter. Finally, AlphaGrep UK Ltd purchased a new position in Cirrus Logic in the second quarter valued at $244,000. Institutional investors and hedge funds own 87.96% of the company’s stock.

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.