Cirrus Logic (NASDAQ:CRUS) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Cirrus Logic from “Buy” to “Hold,” while other analysts also reduced ratings or price targets. The overall analyst consensus is “Hold,” with an average price target of $150.71.
• Cirrus Logic shares opened at $107.87, near their 52-week low of $105.10 and well below the 200-day moving average of $141.53, reflecting recent weakness in the stock.
• The company’s latest quarterly results modestly beat EPS expectations and showed 12.9% year-over-year revenue growth, although revenue slightly missed forecasts. Insiders sold shares over the past three months, while institutional investors own nearly 88% of the stock.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Sunday, Wall Street Zen reports.

A number of other research analysts have also recently weighed in on CRUS. KeyCorp cut shares of Cirrus Logic from an "overweight" rating to a "sector weight" rating in a report on Thursday. Stifel Nicolaus lowered their target price on shares of Cirrus Logic from $197.00 to $160.00 and set a "buy" rating on the stock in a research note on Thursday, August 6th. Weiss Ratings cut Cirrus Logic from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, October 2nd. Barclays dropped their target price on Cirrus Logic from $140.00 to $130.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 6th. Finally, Zacks Research lowered Cirrus Logic from a "hold" rating to a "strong sell" rating in a research note on Friday, August 14th. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $150.71.

Cirrus Logic Price Performance

NASDAQ:CRUS opened at $107.87 on Friday. The firm has a market cap of $5.41 billion, a price-to-earnings ratio of 13.20 and a beta of 1.17. The company has a 50 day moving average price of $115.69 and a 200-day moving average price of $141.53. Cirrus Logic has a 1-year low of $105.10 and a 1-year high of $180.42.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last posted its earnings results on Wednesday, August 5th. The semiconductor company reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.81 by $0.03. The firm had revenue of $459.72 million during the quarter, compared to analysts' expectations of $460.32 million. Cirrus Logic had a net margin of 21.00% and a return on equity of 20.61%. The business's revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.51 EPS. On average, sell-side analysts anticipate that Cirrus Logic will post 7.20 earnings per share for the current fiscal year.

Insider Buying and Selling at Cirrus Logic

In other news, EVP Jeffrey Baumgartner sold 1,166 shares of the stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $119.00, for a total transaction of $138,754.00. Following the transaction, the executive vice president owned 12,907 shares in the company, valued at $1,535,933. This trade represents a 8.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 3,498 shares of company stock worth $437,786. Corporate insiders own 1.20% of the company's stock.

Institutional Investors Weigh In On Cirrus Logic

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Counterpoint Mutual Funds LLC purchased a new position in Cirrus Logic during the third quarter valued at $529,000. Pension & Wealth Management Advisors Inc. acquired a new stake in shares of Cirrus Logic in the third quarter valued at about $170,000. V Square Quantitative Management LLC purchased a new stake in shares of Cirrus Logic during the third quarter worth about $30,000. ABLE Financial Group LLC increased its stake in shares of Cirrus Logic by 7.1% during the third quarter. ABLE Financial Group LLC now owns 14,358 shares of the semiconductor company's stock worth $1,723,000 after purchasing an additional 957 shares in the last quarter. Finally, RHS Financial LLC increased its stake in shares of Cirrus Logic by 6.8% during the third quarter. RHS Financial LLC now owns 1,968 shares of the semiconductor company's stock worth $236,000 after purchasing an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 87.96% of the company's stock.

More Cirrus Logic News

Here are the key news stories impacting Cirrus Logic this week:

• Positive Sentiment: GlobalFoundries plans to build two New York semiconductor fabs with up to $21 billion in Japanese-backed funding. Cirrus Logic is listed among the expected customers, alongside Apple, General Motors and Renesas, potentially improving long-term supply capacity and manufacturing visibility when the facilities begin operating in 2029. GlobalFoundries' $21 Billion Deal Could Change the Economics of Chipmaking
• Positive Sentiment: Analysts’ average price target of approximately $150.71 remains materially above recent trading levels, suggesting potential upside if Cirrus Logic meets expectations and the company’s growth outlook improves. Nine analysts set USD 150.71 target for Cirrus Logic stock
• Neutral Sentiment: Cirrus Logic’s quarterly results previously exceeded the consensus EPS estimate, while revenue increased year over year. However, the company slightly missed the revenue forecast, leaving investors focused on forward demand and customer concentration.
• Negative Sentiment: KeyBanc downgraded Cirrus Logic from Overweight to Equal Weight/Sector Weight after its Asia trip, citing concerns related to Apple. Although the firm noted strength in memory and analog markets, the downgrade removes a bullish recommendation and likely weighs on sentiment. KeyBanc Downgrades Cirrus Logic to Sector Weight Cirrus Logic downgraded by KeyBanc on Apple concerns

About Cirrus Logic

Cirrus Logic, Inc is a fabless semiconductor company that develops high-performance, low-power analog and mixed-signal processing solutions. Its technologies are designed to capture, process, and enhance audio and other sensory signals in electronic devices.

The company's products include audio converters, codecs, amplifiers, digital signal processors, voice-input components, and haptic and sensing solutions. These products are used in smartphones, laptops, tablets, headphones, home audio equipment, automotive systems, and other consumer and industrial applications.

Headquartered in Austin, Texas, Cirrus Logic serves customers globally through a combination of product development, engineering, sales, and support operations.

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