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

Cirrus Logic, Inc. (NASDAQ:CRUS) has earned a consensus recommendation of “Moderate Buy” from the eight research firms that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $146.8571.

Several research analysts recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cirrus Logic in a research report on Monday, December 29th. Benchmark raised their price target on Cirrus Logic from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, February 4th. Stifel Nicolaus boosted their price target on Cirrus Logic from $150.00 to $163.00 and gave the stock a “buy” rating in a research note on Wednesday, February 4th. Loop Capital downgraded 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. Finally, Barclays increased their price objective on shares of Cirrus Logic from $110.00 to $120.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 3rd.

Cirrus Logic Stock Down 3.6%

NASDAQ:CRUS opened at $143.39 on Friday. The stock has a market capitalization of $7.31 billion, a price-to-earnings ratio of 18.89 and a beta of 1.12. Cirrus Logic has a 52 week low of $75.83 and a 52 week high of $154.90. The firm has a 50 day moving average of $137.03 and a 200 day moving average of $127.66.

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

Insider Activity at Cirrus Logic

In other Cirrus Logic news, EVP Justin E. Dougherty sold 3,000 shares of the business’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $143.16, for a total transaction of $429,480.00. Following the sale, the executive vice president owned 5,876 shares in the company, valued at approximately $841,208.16. The trade was a 33.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott Thomas sold 3,239 shares of the business’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $141.63, for a total value of $458,739.57. Following the sale, the executive vice president owned 30,393 shares in the company, valued at approximately $4,304,560.59. The trade was a 9.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 28,045 shares of company stock valued at $3,835,300 in the last ninety days. Company insiders own 1.16% of the company’s stock.

Institutional Investors Weigh In On Cirrus Logic

A number of institutional investors and hedge funds have recently modified their holdings of CRUS. Caitong International Asset Management Co. Ltd boosted its position in Cirrus Logic by 7,333.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 223 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 220 shares during the last quarter. Kohmann Bosshard Financial Services LLC purchased a new position in Cirrus Logic during the 4th quarter worth approximately $33,000. Torren Management LLC purchased a new position in Cirrus Logic during the 4th quarter worth approximately $35,000. Kestra Advisory Services LLC acquired a new stake in Cirrus Logic during the 4th quarter valued at approximately $36,000. Finally, Abich Financial Wealth Management LLC acquired a new stake in Cirrus Logic during the 3rd quarter valued at approximately $46,000. 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.