Susquehanna Issues Pessimistic Forecast for Cirrus Logic (NASDAQ:CRUS) Stock Price

Cirrus Logic (NASDAQ:CRUS) had its price objective decreased by Susquehanna from $160.00 to $135.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “positive” rating on the semiconductor company’s stock. Susquehanna’s price target would suggest a potential upside of 29.67% from the stock’s previous close.

Several other research analysts have also weighed in on the stock. StockNews.com lowered shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. Stifel Nicolaus raised their price objective on shares of Cirrus Logic from $110.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Barclays lowered shares of Cirrus Logic from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $140.00 to $120.00 in a report on Thursday, October 10th. Finally, KeyCorp raised their price objective on shares of Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $132.00.

Cirrus Logic Trading Up 1.3 %

CRUS opened at $104.11 on Tuesday. The company has a fifty day simple moving average of $124.13 and a 200 day simple moving average of $122.11. The firm has a market cap of $5.56 billion, a price-to-earnings ratio of 17.65 and a beta of 0.96. Cirrus Logic has a twelve month low of $69.23 and a twelve month high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results on Monday, November 4th. The semiconductor company reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.23. The business had revenue of $541.90 million during the quarter, compared to analyst estimates of $520.53 million. Cirrus Logic had a net margin of 16.31% and a return on equity of 17.42%. The business’s revenue was up 12.6% on a year-over-year basis. During the same period last year, the business earned $1.43 EPS. On average, analysts forecast that Cirrus Logic will post 5.37 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Trading of Cirrus Logic

Several hedge funds have recently bought and sold shares of CRUS. BNP Paribas Financial Markets lifted its position in Cirrus Logic by 19.8% in the 1st quarter. BNP Paribas Financial Markets now owns 75,315 shares of the semiconductor company’s stock valued at $6,971,000 after purchasing an additional 12,443 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of Cirrus Logic during the 1st quarter worth about $275,000. Texas Permanent School Fund Corp raised its position in shares of Cirrus Logic by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 47,203 shares of the semiconductor company’s stock worth $4,369,000 after buying an additional 643 shares in the last quarter. John G Ullman & Associates Inc. bought a new stake in shares of Cirrus Logic during the 1st quarter worth about $366,000. Finally, LSV Asset Management raised its position in shares of Cirrus Logic by 8.3% during the 1st quarter. LSV Asset Management now owns 1,404,407 shares of the semiconductor company’s stock worth $129,992,000 after buying an additional 107,888 shares in the last quarter. 87.96% of the stock is currently owned by institutional investors.

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.