Analysts Set Cirrus Logic, Inc. (NASDAQ:CRUS) PT at $96.43

Cirrus Logic, Inc. (NASDAQ:CRUS) has been given a consensus rating of “Buy” by the six research firms that are covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy rating. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $96.43.

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

Cirrus Logic Stock Up 3.0 %

Shares of NASDAQ CRUS opened at $88.48 on Friday. The stock has a market cap of $4.77 billion, a P/E ratio of 28.09 and a beta of 0.99. The firm’s 50-day simple moving average is $89.67 and its 200 day simple moving average is $82.76. Cirrus Logic has a fifty-two week low of $65.02 and a fifty-two week high of $95.87.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $2.53 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.83. The company had revenue of $618.98 million for the quarter, compared to the consensus estimate of $539.55 million. Cirrus Logic had a net margin of 9.84% and a return on equity of 16.13%. On average, sell-side analysts anticipate that Cirrus Logic will post 4.79 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Justin E. Dougherty sold 3,280 shares of the firm’s stock in a transaction that occurred 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Cirrus Logic news, SVP Justin E. Dougherty sold 3,280 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $91.40, for a total transaction of $299,792.00. Following the completion of the transaction, the senior vice president now owns 6,000 shares of the company’s stock, valued at approximately $548,400. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Andrew Brannan sold 3,250 shares of Cirrus Logic stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $94.00, for a total value of $305,500.00. Following the completion of the transaction, the vice president now owns 6,055 shares in the company, valued at $569,170. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,530 shares of company stock worth $700,292. 0.89% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Venturi Wealth Management LLC lifted its position in shares of 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 acquiring an additional 178 shares during the period. Atlas Capital Advisors LLC boosted its stake in Cirrus Logic by 103.0% during the first quarter. Atlas Capital Advisors LLC now owns 402 shares of the semiconductor company’s stock worth $37,000 after buying an additional 204 shares in the last quarter. Quadrant Capital Group LLC increased its stake in Cirrus Logic by 72.3% in the fourth quarter. Quadrant Capital Group LLC now owns 510 shares of the semiconductor company’s stock valued at $42,000 after acquiring an additional 214 shares during the period. Nisa Investment Advisors LLC raised its position in Cirrus Logic by 71.1% in the third 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 during the third quarter worth $62,000. Institutional investors and hedge funds own 87.96% of the company’s stock.

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.