Cirrus Logic, Inc. (NASDAQ:CRUS) Receives Average Rating of “Moderate Buy” from Brokerages

Cirrus Logic, Inc. (NASDAQ:CRUS) has earned an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $132.86.

Several analysts recently commented on the company. Loop Capital assumed coverage on Cirrus Logic in a report on Tuesday, November 12th. They issued a “buy” rating and a $130.00 price objective for the company. StockNews.com raised shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Barclays increased their price objective on shares of Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. Benchmark upgraded shares of Cirrus Logic from a “hold” rating to a “buy” rating and set a $125.00 target price for the company in a research report on Wednesday, February 5th. Finally, Stifel Nicolaus decreased their price objective on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th.

Cirrus Logic Stock Up 2.2 %

Shares of NASDAQ CRUS opened at $109.83 on Friday. The firm’s 50-day moving average price is $103.33 and its 200-day moving average price is $114.15. Cirrus Logic has a 52-week low of $81.30 and a 52-week high of $147.46. The company has a market cap of $5.84 billion, a PE ratio of 19.93 and a beta of 0.91.

Cirrus Logic (NASDAQ:CRUS) last issued its earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.36 by ($0.21). Cirrus Logic had a return on equity of 16.60% and a net margin of 16.55%. As a group, equities research analysts anticipate that Cirrus Logic will post 5.63 EPS for the current fiscal year.

Insider Activity

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of Cirrus Logic stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $100.00, for a total transaction of $205,100.00. Following the completion of the transaction, the executive vice president now directly owns 8,330 shares of the company’s stock, valued at $833,000. The trade was a 19.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.02% of the company’s stock.

Hedge Funds Weigh In On Cirrus Logic

Several hedge funds have recently bought and sold shares of CRUS. Huntington National Bank lifted its holdings in shares of Cirrus Logic by 10,500.0% in the 3rd quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock worth $26,000 after buying an additional 210 shares during the period. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Cirrus Logic during the fourth quarter valued at $28,000. Nisa Investment Advisors LLC raised its position in 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 buying an additional 120 shares during the last quarter. Westside Investment Management Inc. purchased a new position in shares of Cirrus Logic during the third quarter worth $35,000. Finally, Headlands Technologies LLC acquired a new position in Cirrus Logic during the fourth quarter valued at $39,000. Institutional investors 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 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.