Cirrus Logic (NASDAQ:CRUS) Price Target Raised to $120.00 at Susquehanna

Cirrus Logic (NASDAQ:CRUS) had its price target lifted by Susquehanna from $100.00 to $120.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “positive” rating on the semiconductor company’s stock. Susquehanna’s target price suggests a potential upside of 16.11% from the stock’s previous close.

A number of other research analysts have also weighed in on CRUS. StockNews.com lowered shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 20th. TD Cowen raised their target price on Cirrus Logic from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday. Barclays upped their price target on Cirrus Logic from $90.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, January 16th. Stifel Nicolaus boosted their target price on shares of Cirrus Logic from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Finally, TheStreet raised shares of Cirrus Logic from a “c+” rating to a “b-” rating in a report on Tuesday, January 23rd. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $101.43.

Cirrus Logic Stock Performance

Shares of CRUS stock opened at $103.35 on Wednesday. The company has a market capitalization of $5.57 billion, a price-to-earnings ratio of 28.93 and a beta of 0.99. The stock’s 50 day simple moving average is $89.63 and its 200 day simple moving average is $83.17. Cirrus Logic has a twelve month low of $65.02 and a twelve month high of $103.35.

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

Insider Activity at Cirrus Logic

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

Institutional Investors Weigh In On Cirrus Logic

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MQS Management LLC lifted its stake in shares of Cirrus Logic by 4.0% during the third quarter. MQS Management LLC now owns 4,298 shares of the semiconductor company’s stock valued at $318,000 after acquiring an additional 164 shares during the period. Truvestments Capital LLC lifted its position in Cirrus Logic by 5.2% during the 3rd quarter. Truvestments Capital LLC now owns 3,462 shares of the semiconductor company’s stock valued at $256,000 after purchasing an additional 171 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Cirrus Logic by 0.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 26,963 shares of the semiconductor company’s stock valued at $1,994,000 after purchasing an additional 172 shares during the last quarter. Covestor Ltd grew its position in shares of Cirrus Logic by 13.2% during the 3rd quarter. Covestor Ltd now owns 1,492 shares of the semiconductor company’s stock worth $110,000 after buying an additional 174 shares during the period. Finally, Venturi Wealth Management LLC raised its stake in shares of Cirrus Logic by 93.7% during the fourth quarter. Venturi Wealth Management LLC now owns 368 shares of the semiconductor company’s stock worth $31,000 after buying an additional 178 shares during the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

About Cirrus Logic

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.