Cirrus Logic, Inc. (NASDAQ:CRUS) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Cirrus Logic has a “Moderate Buy” consensus rating from eight analysts, split evenly between four holds and four buys, with an average 1-year price target of about $161.71.
• The company recently reported better-than-expected quarterly results, posting EPS of $1.95 versus estimates of $1.76 and revenue of $448.52 million, which was also above forecasts.
• Despite the positive outlook, there was notable insider selling, including stock sales by EVP Scott Thomas and CEO John Forsyth under pre-arranged trading plans.

Shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Get Free Report) have received a consensus rating of "Moderate Buy" from the eight analysts that are presently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $161.7143.

A number of analysts have commented on CRUS shares. Loop Capital downgraded shares of Cirrus Logic from a "buy" rating to a "hold" rating and set a $130.00 price target on the stock. in a research report on Monday, February 2nd. Weiss Ratings restated a "hold (c+)" rating on shares of Cirrus Logic in a research report on Friday, March 27th. Benchmark boosted their target price on shares of Cirrus Logic from $150.00 to $160.00 and gave the stock a "buy" rating in a report on Wednesday, February 4th. KeyCorp boosted their target price on shares of Cirrus Logic from $175.00 to $200.00 and gave the stock an "overweight" rating in a report on Thursday, May 7th. Finally, Barclays boosted their target price on shares of Cirrus Logic from $120.00 to $140.00 and gave the stock an "equal weight" rating in a report on Thursday, May 7th.

Cirrus Logic Price Performance

Cirrus Logic stock opened at $159.71 on Monday. The firm has a 50-day moving average price of $153.11 and a two-hundred day moving average price of $136.34. The firm has a market capitalization of $8.15 billion, a price-to-earnings ratio of 20.37 and a beta of 1.16. Cirrus Logic has a 52-week low of $92.02 and a 52-week high of $179.00.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last posted its earnings results on Wednesday, May 6th. The semiconductor company reported $1.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.76 by $0.19. Cirrus Logic had a net margin of 20.75% and a return on equity of 20.48%. The firm had revenue of $448.52 million during the quarter, compared to analyst estimates of $442.26 million. During the same period in the previous year, the business posted $1.67 EPS. Cirrus Logic's revenue was up 5.7% on a year-over-year basis. Research analysts expect that Cirrus Logic will post 8.05 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Scott Thomas sold 9,942 shares of Cirrus Logic stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $160.11, for a total value of $1,591,813.62. Following the transaction, the executive vice president directly owned 30,393 shares of the company's stock, valued at $4,866,223.23. This trade represents a 24.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John Forsyth sold 5,000 shares of Cirrus Logic stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $170.41, for a total transaction of $852,050.00. Following the completion of the transaction, the chief executive officer directly owned 70,016 shares in the company, valued at approximately $11,931,426.56. This trade represents a 6.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.16% of the stock is owned by insiders.

Institutional Trading of Cirrus Logic

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of Cirrus Logic by 4.2% during the 3rd quarter. Vanguard Group Inc. now owns 6,622,431 shares of the semiconductor company's stock worth $829,724,000 after buying an additional 268,560 shares during the period. LSV Asset Management boosted its holdings in shares of Cirrus Logic by 1.0% during the 4th quarter. LSV Asset Management now owns 2,356,245 shares of the semiconductor company's stock worth $279,215,000 after buying an additional 23,703 shares during the period. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Cirrus Logic by 0.7% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,578,555 shares of the semiconductor company's stock worth $187,059,000 after buying an additional 11,307 shares during the period. Earnest Partners LLC boosted its holdings in shares of Cirrus Logic by 0.8% during the 3rd quarter. Earnest Partners LLC now owns 1,348,710 shares of the semiconductor company's stock worth $168,980,000 after buying an additional 10,750 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Cirrus Logic by 6.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,328,155 shares of the semiconductor company's stock worth $192,055,000 after buying an additional 83,897 shares during the period. 87.96% of the stock is owned by institutional investors.

About Cirrus Logic

Cirrus Logic, Inc, headquartered in Austin, Texas, is a fabless semiconductor company specializing in high-precision analog and mixed-signal processing solutions. The firm develops low-power, high-performance audio, voice, and power management integrated circuits, serving prominent consumer electronics OEMs. Its semiconductor devices are designed to enhance audio quality, battery life, and system integration in mobile phones, tablets, wireless headsets and other portable devices.

The company's product portfolio includes digital-to-analog converters (DACs), analog-to-digital converters (ADCs), audio codecs, power management ICs, voice processors and integrated amplifiers.

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