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

Cirrus Logic, Inc. (NASDAQ:CRUS) has been given a consensus recommendation of “Moderate Buy” by the nine analysts that are covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $161.7143.

CRUS has been the topic of several recent research reports. KeyCorp increased their target price on Cirrus Logic from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Zacks Research cut Cirrus Logic from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Barclays raised their target price on Cirrus Logic from $120.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Jefferies Financial Group upgraded shares of Cirrus Logic to a “buy” rating in a research report on Thursday, June 4th. Finally, Stifel Nicolaus set a $197.00 price target on shares of Cirrus Logic in a report on Thursday, May 7th.

Cirrus Logic Price Performance

Shares of NASDAQ CRUS traded up $0.44 during mid-day trading on Tuesday, reaching $150.36. 483,811 shares of the company’s stock were exchanged, compared to its average volume of 553,965. The firm has a market capitalization of $7.59 billion, a price-to-earnings ratio of 19.18 and a beta of 1.17. Cirrus Logic has a 52 week low of $92.02 and a 52 week high of $180.42. The firm has a 50-day moving average price of $162.29 and a two-hundred day moving average price of $147.16.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings results on Wednesday, May 6th. The semiconductor company reported $1.95 EPS 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 company had revenue of $448.52 million for the quarter, compared to analysts’ expectations of $442.25 million. During the same quarter in the previous year, the firm posted $1.67 EPS. Cirrus Logic’s revenue was up 5.7% on a year-over-year basis. As a group, sell-side analysts forecast that Cirrus Logic will post 8.05 EPS for the current fiscal year.

Insider Activity

In other Cirrus Logic news, CEO John Forsyth sold 5,000 shares of Cirrus Logic stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $170.41, for a total transaction of $852,050.00. Following the transaction, the chief executive officer directly owned 70,016 shares of the company’s stock, valued at approximately $11,931,426.56. This trade represents a 6.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Scott Thomas sold 1,300 shares of Cirrus Logic stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $180.04, for a total transaction of $234,052.00. Following the completion of the transaction, the executive vice president owned 31,048 shares in the company, valued at approximately $5,589,881.92. The trade was a 4.02% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 22,299 shares of company stock worth $3,581,647. 1.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CRUS. LSV Asset Management grew its holdings in shares of Cirrus Logic by 1.0% during the fourth quarter. LSV Asset Management now owns 2,356,245 shares of the semiconductor company’s stock valued at $279,215,000 after buying an additional 23,703 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in Cirrus Logic by 0.7% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,578,555 shares of the semiconductor company’s stock valued at $187,059,000 after purchasing an additional 11,307 shares during the period. Earnest Partners LLC boosted its holdings in Cirrus Logic by 0.8% in the third quarter. Earnest Partners LLC now owns 1,348,710 shares of the semiconductor company’s stock worth $168,980,000 after purchasing an additional 10,750 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Cirrus Logic by 6.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,328,155 shares of the semiconductor company’s stock valued at $192,055,000 after buying an additional 83,897 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its holdings in shares of Cirrus Logic by 33.5% in the fourth quarter. Allianz Asset Management GmbH now owns 1,073,623 shares of the semiconductor company’s stock worth $127,224,000 after acquiring an additional 269,391 shares during the period. 87.96% of the stock is currently owned by institutional investors.

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.