Cirrus Logic (NASDAQ:CRUS) PT Raised to $110.00

Cirrus Logic (NASDAQ:CRUS) had its target price raised by investment analysts at Barclays from $95.00 to $110.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the semiconductor company’s stock. Barclays‘s target price would indicate a potential upside of 5.99% from the stock’s current price.

Other analysts have also recently issued reports about the company. Susquehanna raised their target price on Cirrus Logic from $100.00 to $120.00 and gave the company a “positive” rating in a research report on Wednesday. TD Cowen raised their target price on Cirrus Logic from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday. TheStreet upgraded Cirrus Logic from a “c+” rating to a “b-” rating in a research report on Tuesday, January 23rd. StockNews.com cut Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 20th. Finally, Stifel Nicolaus lifted their price target on Cirrus Logic from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $107.86.

Cirrus Logic Trading Up 1.5 %

Shares of Cirrus Logic stock opened at $103.78 on Wednesday. The business’s 50 day simple moving average is $90.12 and its 200-day simple moving average is $83.45. The stock has a market capitalization of $5.59 billion, a price-to-earnings ratio of 32.95 and a beta of 0.99. Cirrus Logic has a twelve month low of $65.02 and a twelve month high of $104.16.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $2.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.83. The business had revenue of $618.98 million for the quarter, compared to analysts’ expectations of $539.55 million. Cirrus Logic had a return on equity of 16.13% and a net margin of 9.84%. Sell-side analysts predict that Cirrus Logic will post 4.79 earnings per share for the current year.

Insider Transactions at Cirrus Logic

In other news, SVP Justin E. Dougherty sold 3,280 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was 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 owns 6,000 shares of the company’s stock, valued at $548,400. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.89% of the company’s stock.

Institutional Trading of Cirrus Logic

Several hedge funds and other institutional investors have recently modified their holdings of the business. Venturi Wealth Management LLC raised its holdings in shares of Cirrus Logic by 93.7% during the fourth quarter. Venturi Wealth Management LLC now owns 368 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 178 shares in the last quarter. Atlas Capital Advisors LLC raised its holdings in shares of Cirrus Logic by 103.0% during the first quarter. Atlas Capital Advisors LLC now owns 402 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 204 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in shares of Cirrus Logic by 72.3% during the fourth quarter. Quadrant Capital Group LLC now owns 510 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 214 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Cirrus Logic by 71.1% during the third quarter. Nisa Investment Advisors LLC now owns 722 shares of the semiconductor company’s stock worth $53,000 after acquiring an additional 300 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of Cirrus Logic during the third quarter worth $62,000. Institutional investors and hedge funds own 87.96% of the company’s stock.

About Cirrus Logic

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.