Cirrus Logic, Inc. (NASDAQ:CRUS) Receives Consensus Rating of “Buy” from Analysts

Cirrus Logic, Inc. (NASDAQ:CRUSGet Free Report) has been given a consensus rating of “Buy” by the six ratings firms that are covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a buy rating. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $96.43.

CRUS has been the topic of a number of analyst reports. Stifel Nicolaus raised their price target on Cirrus Logic from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Barclays raised their price objective on Cirrus Logic from $90.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, January 16th. Susquehanna raised their price objective on Cirrus Logic from $85.00 to $100.00 and gave the stock a “positive” rating in a report on Wednesday, February 7th. TD Cowen raised their price objective on Cirrus Logic from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Finally, TheStreet raised Cirrus Logic from a “c+” rating to a “b-” rating in a report on Tuesday, January 23rd.

Check Out Our Latest Research Report on CRUS

Insider Buying and Selling

In related news, SVP Justin E. Dougherty sold 3,280 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $91.40, for a total transaction of $299,792.00. Following the transaction, the senior vice president now owns 6,000 shares of the company’s stock, valued at $548,400. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Cirrus Logic news, CFO Venkatesh Nathamuni sold 1,000 shares of Cirrus Logic stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $95.00, for a total value of $95,000.00. Following the sale, the chief financial officer now owns 1,587 shares of the company’s stock, valued at approximately $150,765. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Justin E. Dougherty sold 3,280 shares of Cirrus Logic stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $91.40, for a total value of $299,792.00. Following the completion of the sale, the senior vice president now directly owns 6,000 shares in the company, valued at approximately $548,400. The disclosure for this sale can be found here. Insiders have sold a total of 7,530 shares of company stock valued at $700,292 over the last quarter. 0.89% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cirrus Logic

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP lifted its position in shares of Cirrus Logic by 2.9% during the 4th quarter. Wellington Management Group LLP now owns 1,368,475 shares of the semiconductor company’s stock valued at $113,843,000 after acquiring an additional 38,659 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Cirrus Logic during the 4th quarter valued at approximately $2,163,000. GTS Securities LLC acquired a new position in shares of Cirrus Logic during the 4th quarter worth approximately $256,000. Mercer Global Advisors Inc. ADV lifted its stake in Cirrus Logic by 36.2% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 5,392 shares of the semiconductor company’s stock valued at $449,000 after buying an additional 1,432 shares in the last quarter. Finally, E. Ohman J or Asset Management AB lifted its stake in Cirrus Logic by 13.9% in the 4th quarter. E. Ohman J or Asset Management AB now owns 18,268 shares of the semiconductor company’s stock valued at $1,520,000 after buying an additional 2,226 shares in the last quarter. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Cirrus Logic Price Performance

Cirrus Logic stock opened at $91.70 on Wednesday. Cirrus Logic has a 1-year low of $65.02 and a 1-year high of $109.75. The stock has a market cap of $4.94 billion, a PE ratio of 29.11, a P/E/G ratio of 16.38 and a beta of 1.00. The stock’s fifty day moving average is $88.80 and its two-hundred day moving average is $80.29.

Cirrus Logic (NASDAQ:CRUSGet Free Report) last posted its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $2.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.83. Cirrus Logic had a return on equity of 16.13% and a net margin of 9.84%. The company had revenue of $618.98 million for the quarter, compared to analysts’ expectations of $539.55 million. On average, research analysts expect that Cirrus Logic will post 4.79 earnings per share for the current fiscal year.

Cirrus Logic Company Profile

(Get Free Report

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.

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Analyst Recommendations for Cirrus Logic (NASDAQ:CRUS)

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