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

Cirrus Logic, Inc. (NASDAQ:CRUS) has been assigned a consensus recommendation of “Moderate Buy” from the eight research firms that are currently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $145.4286.

A number of research firms recently weighed in on CRUS. Wall Street Zen cut shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Barclays upped their price target on Cirrus Logic from $100.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Wednesday. KeyCorp lifted their price objective on Cirrus Logic from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Stifel Nicolaus boosted their price objective on Cirrus Logic from $150.00 to $163.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Benchmark increased their target price on Cirrus Logic from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday.

Cirrus Logic Trading Up 1.9%

Shares of NASDAQ:CRUS opened at $142.78 on Friday. The company has a market capitalization of $7.28 billion, a price-to-earnings ratio of 18.81 and a beta of 1.12. Cirrus Logic has a 12-month low of $75.83 and a 12-month high of $144.76. The business has a 50-day moving average price of $124.39 and a 200 day moving average price of $120.16.

Cirrus Logic (NASDAQ:CRUS) last posted its earnings results on Tuesday, February 3rd. The semiconductor company reported $2.97 EPS for the quarter, beating analysts’ consensus estimates of $2.37 by $0.60. The company had revenue of $580.62 million for the quarter, compared to analysts’ expectations of $531.43 million. Cirrus Logic had a net margin of 20.47% and a return on equity of 20.41%. Cirrus Logic’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.51 earnings per share. As a group, equities research analysts predict that Cirrus Logic will post 5.63 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO John Forsyth sold 21,806 shares of the stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $135.15, for a total transaction of $2,947,080.90. Following the sale, the chief executive officer owned 50,723 shares of the company’s stock, valued at approximately $6,855,213.45. This represents a 30.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Andrew Brannan sold 8,913 shares of Cirrus Logic stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $119.06, for a total transaction of $1,061,181.78. Following the completion of the transaction, the executive vice president owned 5,950 shares of the company’s stock, valued at $708,407. This trade represents a 59.97% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.16% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cirrus Logic

Institutional investors have recently modified their holdings of the business. Inspire Investing LLC lifted its position in Cirrus Logic by 186.9% in the third quarter. Inspire Investing LLC now owns 13,241 shares of the semiconductor company’s stock valued at $1,659,000 after purchasing an additional 8,625 shares during the period. Sequoia Financial Advisors LLC purchased a new position in shares of Cirrus Logic during the 2nd quarter worth approximately $270,000. CWA Asset Management Group LLC acquired a new stake in shares of Cirrus Logic in the 3rd quarter valued at approximately $2,635,000. Campbell & CO Investment Adviser LLC lifted its holdings in shares of Cirrus Logic by 852.1% in the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 22,242 shares of the semiconductor company’s stock valued at $2,319,000 after buying an additional 19,906 shares during the period. Finally, Aviva PLC boosted its stake in shares of Cirrus Logic by 42.4% in the second quarter. Aviva PLC now owns 8,291 shares of the semiconductor company’s stock valued at $864,000 after buying an additional 2,467 shares in the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

Cirrus Logic Company Profile

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.