Cirrus Logic (NASDAQ:CRUS) Price Target Lowered to $105.00 at Barclays

Cirrus Logic (NASDAQ:CRUS) had its target price trimmed by Barclays from $120.00 to $105.00 in a report released on Tuesday morning, Benzinga reports. They currently have an equal weight rating on the semiconductor company’s stock.

Other equities research analysts also recently issued research reports about the company. KeyCorp lifted their target price on Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Susquehanna dropped their price objective on shares of Cirrus Logic from $160.00 to $135.00 and set a “positive” rating for the company in a research note on Tuesday. Stifel Nicolaus increased their target price on shares of Cirrus Logic from $110.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Finally, StockNews.com downgraded shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 9th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Cirrus Logic presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.00.

Cirrus Logic Stock Performance

Shares of CRUS stock opened at $102.79 on Tuesday. Cirrus Logic has a 52 week low of $69.23 and a 52 week high of $147.46. The company has a market capitalization of $5.49 billion, a price-to-earnings ratio of 19.00 and a beta of 0.96. The company has a 50-day simple moving average of $124.88 and a 200 day simple moving average of $122.24.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Monday, November 4th. The semiconductor company reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.23. The company had revenue of $541.90 million during 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.43 earnings per share. Sell-side analysts forecast that Cirrus Logic will post 5.37 EPS for the current year.

Insider Transactions at Cirrus Logic

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

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Stonegate Investment Group LLC boosted its holdings in shares of Cirrus Logic by 5.3% during the 3rd quarter. Stonegate Investment Group LLC now owns 1,776 shares of the semiconductor company’s stock valued at $221,000 after acquiring an additional 90 shares in the last quarter. Atria Investments Inc raised its position in Cirrus Logic by 2.9% in the third quarter. Atria Investments Inc now owns 3,596 shares of the semiconductor company’s stock valued at $447,000 after purchasing an additional 101 shares during the last quarter. Profund Advisors LLC boosted its stake in shares of Cirrus Logic by 2.0% during the second quarter. Profund Advisors LLC now owns 5,271 shares of the semiconductor company’s stock valued at $673,000 after purchasing an additional 103 shares in the last quarter. Arkadios Wealth Advisors grew its holdings in shares of Cirrus Logic by 2.8% during the second quarter. Arkadios Wealth Advisors now owns 4,413 shares of the semiconductor company’s stock worth $563,000 after purchasing an additional 119 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in Cirrus Logic by 98.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 120 shares during the last quarter. 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.