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

Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) have been given an average recommendation of “Moderate Buy” by the eight ratings firms that are presently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $146.8571.

A number of research firms recently issued reports on CRUS. Stifel Nicolaus increased their target price on Cirrus Logic from $150.00 to $163.00 and gave the stock a “buy” rating in a research note on Wednesday, February 4th. KeyCorp increased their price objective on shares of Cirrus Logic from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. Loop Capital lowered shares of Cirrus Logic from a “buy” rating to a “hold” rating and set a $130.00 price objective on the stock. in a report on Monday, February 2nd. Benchmark upped their target price on shares of Cirrus Logic from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, February 4th. Finally, Williams Trading set a $150.00 target price on Cirrus Logic in a report on Wednesday, November 5th.

Cirrus Logic Trading Down 3.3%

Shares of CRUS opened at $138.38 on Wednesday. The stock has a market cap of $7.06 billion, a P/E ratio of 18.23 and a beta of 1.12. Cirrus Logic has a 1 year low of $75.83 and a 1 year high of $146.88. The stock’s 50-day moving average price is $131.37 and its two-hundred day moving average price is $124.96.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings results on Tuesday, February 3rd. The semiconductor company reported $2.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.60. The company had revenue of $580.62 million during the quarter, compared to analyst estimates of $531.43 million. Cirrus Logic had a net margin of 20.47% and a return on equity of 20.41%. The firm’s revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.51 EPS. As a group, equities analysts forecast that Cirrus Logic will post 5.63 EPS for the current year.

Insider Buying and Selling

In other Cirrus Logic news, CEO John Forsyth sold 21,806 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $135.15, for a total transaction of $2,947,080.90. Following the completion of the transaction, the chief executive officer owned 50,723 shares of the company’s stock, valued at $6,855,213.45. This represents a 30.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Scott Thomas sold 3,239 shares of the firm’s stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $141.63, for a total transaction of $458,739.57. Following the transaction, the executive vice president directly owned 30,393 shares of the company’s stock, valued at $4,304,560.59. This represents a 9.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 28,045 shares of company stock worth $3,835,300. 1.16% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Diversified Trust Co grew its position in Cirrus Logic by 0.9% in the third quarter. Diversified Trust Co now owns 8,974 shares of the semiconductor company’s stock valued at $1,124,000 after purchasing an additional 78 shares in the last quarter. Parallel Advisors LLC grew its holdings 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 valued at $162,000 after acquiring an additional 80 shares in the last quarter. CIBC Private Wealth Group LLC grew its holdings in shares of Cirrus Logic by 29.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 389 shares of the semiconductor company’s stock valued at $46,000 after acquiring an additional 88 shares in the last quarter. Kendall Capital Management increased its position in shares of Cirrus Logic by 0.9% in the fourth quarter. Kendall Capital Management now owns 10,600 shares of the semiconductor company’s stock valued at $1,256,000 after acquiring an additional 90 shares during the last quarter. Finally, EP Wealth Advisors LLC raised its holdings 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 in the last quarter. 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.