Cirrus Logic, Inc. (NASDAQ:CRUS) Given Consensus Rating of “Buy” by Brokerages

Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) have received an average recommendation of “Buy” from the six analysts that are currently covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $96.43.

Several analysts recently issued reports on CRUS shares. TheStreet upgraded Cirrus Logic from a “c+” rating to a “b-” rating in a research note on Tuesday, January 23rd. StockNews.com downgraded Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 20th. TD Cowen boosted their price target on Cirrus Logic from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Barclays boosted their price target on Cirrus Logic from $90.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, January 16th. Finally, Stifel Nicolaus boosted 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.

Insider Activity

In other news, SVP Justin E. Dougherty sold 3,280 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $91.40, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, VP Andrew Brannan sold 3,250 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $94.00, for a total transaction of $305,500.00. Following the completion of the transaction, the vice president now owns 6,055 shares of the company’s stock, valued at approximately $569,170. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Justin E. Dougherty sold 3,280 shares of the business’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 transaction, the senior vice president now directly owns 6,000 shares of the company’s stock, valued at approximately $548,400. The disclosure for this sale can be found here. In the last three months, insiders sold 7,530 shares of company stock worth $700,292. 0.89% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cirrus Logic

Institutional investors have recently modified their holdings of the business. Venturi Wealth Management LLC increased its holdings in Cirrus Logic by 93.7% in the 4th quarter. Venturi Wealth Management LLC now owns 368 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 178 shares in the last quarter. Atlas Capital Advisors LLC increased its holdings in Cirrus Logic by 103.0% in the 1st quarter. Atlas Capital Advisors LLC now owns 402 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 204 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in Cirrus Logic by 72.3% in the 4th quarter. Quadrant Capital Group LLC now owns 510 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 214 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in Cirrus Logic by 71.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 722 shares of the semiconductor company’s stock worth $53,000 after purchasing an additional 300 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new position in Cirrus Logic in the 3rd quarter worth about $62,000. Institutional investors and hedge funds own 87.96% of the company’s stock.

Cirrus Logic Trading Up 1.4 %

Shares of NASDAQ CRUS opened at $88.53 on Friday. Cirrus Logic has a 12 month low of $65.02 and a 12 month high of $95.87. The stock has a 50 day moving average of $90.01 and a 200-day moving average of $82.21. The company has a market capitalization of $4.77 billion, a P/E ratio of 28.10 and a beta of 1.00.

Cirrus Logic (NASDAQ:CRUS) last issued its earnings results on Tuesday, February 6th. The semiconductor company reported $2.53 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $539.55 million. Analysts predict that Cirrus Logic will post 4.79 EPS for the current fiscal year.

Cirrus Logic Company Profile

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.