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

Cirrus Logic, Inc. (NASDAQ:CRUS) has earned a consensus recommendation of “Moderate Buy” from the nine research firms that are covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $161.7143.

A number of research firms have weighed in on CRUS. Stifel Nicolaus set a $197.00 target price on shares of Cirrus Logic in a report on Thursday, May 7th. KeyCorp boosted their target price on shares of Cirrus Logic from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Barclays boosted their target price on shares of Cirrus Logic from $120.00 to $140.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. Jefferies Financial Group raised shares of Cirrus Logic to a “buy” rating in a report on Thursday, June 4th. Finally, Zacks Research lowered shares of Cirrus Logic from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th.

Cirrus Logic Price Performance

CRUS opened at $162.93 on Friday. Cirrus Logic has a fifty-two week low of $92.02 and a fifty-two week high of $180.42. The firm has a market capitalization of $8.22 billion, a price-to-earnings ratio of 20.78 and a beta of 1.15. The company’s 50 day moving average price is $164.91 and its two-hundred day moving average price is $142.50.

Cirrus Logic (NASDAQ:CRUS) last posted its earnings results on Wednesday, May 6th. The semiconductor company reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.19. Cirrus Logic had a net margin of 20.75% and a return on equity of 20.48%. The firm had revenue of $448.52 million for the quarter, compared to analyst estimates of $442.26 million. During the same period in the previous year, the firm posted $1.67 EPS. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, equities research analysts predict that Cirrus Logic will post 8.05 EPS for the current year.

Insider Transactions at Cirrus Logic

In other news, EVP Scott Thomas sold 9,942 shares of the business’s stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $160.11, for a total value of $1,591,813.62. Following the transaction, the executive vice president owned 30,393 shares in the company, valued at approximately $4,866,223.23. The trade was a 24.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Justin E. Dougherty sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $166.50, for a total transaction of $333,000.00. Following the completion of the transaction, the executive vice president owned 4,537 shares in the company, valued at $755,410.50. This trade represents a 30.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 23,149 shares of company stock worth $3,828,401. Company insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CRUS. Norges Bank acquired a new position in shares of Cirrus Logic in the 4th quarter worth approximately $69,674,000. Invesco Ltd. lifted its position in shares of Cirrus Logic by 133.6% in the 4th quarter. Invesco Ltd. now owns 642,501 shares of the semiconductor company’s stock worth $76,136,000 after purchasing an additional 367,488 shares during the period. Vaughan Nelson Investment Management L.P. lifted its position in shares of Cirrus Logic by 546.3% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 388,225 shares of the semiconductor company’s stock worth $46,005,000 after purchasing an additional 328,159 shares during the period. Defiance ETFs LLC acquired a new position in shares of Cirrus Logic in the 4th quarter worth approximately $38,050,000. Finally, Allianz Asset Management GmbH lifted its position in shares of Cirrus Logic by 33.5% in the 4th quarter. Allianz Asset Management GmbH now owns 1,073,623 shares of the semiconductor company’s stock worth $127,224,000 after purchasing an additional 269,391 shares during the period. 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.