Barclays Has Lowered Expectations for Cirrus Logic (NASDAQ:CRUS) Stock Price

Cirrus Logic (NASDAQ:CRUS) had its price objective lowered by Barclays from $120.00 to $105.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the semiconductor company’s stock. Barclays‘s price objective suggests a potential downside of 0.11% from the company’s current price.

Several other equities analysts have also recently issued reports on the company. Stifel Nicolaus boosted their price target on Cirrus Logic from $110.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. StockNews.com cut Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 9th. KeyCorp boosted their price target on Cirrus Logic from $155.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Finally, Susquehanna dropped their price target on Cirrus Logic from $160.00 to $135.00 and set a “positive” rating on the stock in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $137.00.

Cirrus Logic Price Performance

Shares of CRUS traded down $5.51 during midday trading on Tuesday, reaching $105.12. 271,945 shares of the stock were exchanged, compared to its average volume of 495,795. The business’s 50-day moving average price is $125.69 and its 200 day moving average price is $122.09. Cirrus Logic has a twelve month low of $69.23 and a twelve month high of $147.46. The company has a market capitalization of $5.61 billion, a price-to-earnings ratio of 19.45 and a beta of 0.96.

Cirrus Logic (NASDAQ:CRUS) last posted its earnings results on Monday, November 4th. The semiconductor company reported $2.25 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.23. The business had revenue of $541.90 million for the quarter, compared to analysts’ expectations of $520.53 million. Cirrus Logic had a return on equity of 17.42% and a net margin of 16.31%. The business’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.43 earnings per share. As a group, equities research analysts expect that Cirrus Logic will post 5.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cirrus Logic news, VP Andrew Brannan sold 4,350 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $136.04, for a total transaction of $591,774.00. Following the transaction, the vice president now owns 4,004 shares in the company, valued at approximately $544,704.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, VP Andrew Brannan sold 4,350 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $136.04, for a total transaction of $591,774.00. Following the sale, the vice president now owns 4,004 shares of the company’s stock, valued at $544,704.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Justin E. Dougherty sold 10,203 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $131.71, for a total value of $1,343,837.13. Following the sale, the senior vice president now directly owns 4,838 shares in the company, valued at $637,212.98. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.02% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC lifted its stake in shares of Cirrus Logic by 98.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 120 shares during the period. V Square Quantitative Management LLC purchased a new position in shares of Cirrus Logic during the 3rd quarter worth $31,000. Versant Capital Management Inc increased its holdings in shares of Cirrus Logic by 1,911.1% during the 2nd quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company’s stock worth $46,000 after buying an additional 344 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Cirrus Logic by 79.5% during the 2nd quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company’s stock worth $61,000 after buying an additional 210 shares during the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of Cirrus Logic during the 2nd quarter worth $77,000. Hedge funds and other institutional investors 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 amplifiers; 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 integrated digital signal processing; 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 for use in smartphones, tablets, laptops, AR/VR headsets, home theater systems, automotive entertainment systems, and professional audio systems.