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

Key Points

• Cirrus Logic, Inc. has received a consensus rating of "Moderate Buy" from five brokerages, with an average twelve-month target price of $121.00.
• The company reported a quarterly earnings per share (EPS) of $1.51, surpassing the consensus estimate of $1.07, and its revenue increased by 8.9% year-over-year.
• Cirrus Logic's Board of Directors has authorized a stock repurchase plan allowing the repurchase of up to $500 million in shares, indicating management believes the stock is undervalued.

Shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the five ratings firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $121.00.

A number of brokerages have weighed in on CRUS. Wall Street Zen lowered Cirrus Logic from a "strong-buy" rating to a "buy" rating in a research note on Monday, August 11th. Barclays upped their target price on Cirrus Logic from $80.00 to $90.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 7th. Finally, Stifel Nicolaus set a $120.00 target price on Cirrus Logic in a research note on Wednesday, May 7th.

Insiders Place Their Bets

In other news, Director Alexander M. Davern sold 1,000 shares of the stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $105.62, for a total transaction of $105,620.00. Following the transaction, the director directly owned 20,907 shares in the company, valued at approximately $2,208,197.34. This represents a 4.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Carl Jackson Alberty sold 2,000 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $100.00, for a total value of $200,000.00. Following the transaction, the executive vice president owned 41,645 shares in the company, valued at $4,164,500. This trade represents a 4.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,000 shares of company stock worth $1,305,620 in the last ninety days. 1.16% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cirrus Logic

Several institutional investors have recently modified their holdings of CRUS. Advisory Services Network LLC increased its position in shares of Cirrus Logic by 126.0% during the 4th quarter. Advisory Services Network LLC now owns 3,546 shares of the semiconductor company's stock valued at $353,000 after purchasing an additional 1,977 shares during the last quarter. Raymond James Financial Inc. bought a new position in Cirrus Logic during the 4th quarter worth approximately $5,225,000. Sterling Capital Management LLC grew its position in Cirrus Logic by 56.6% during the 4th quarter. Sterling Capital Management LLC now owns 3,212 shares of the semiconductor company's stock worth $320,000 after acquiring an additional 1,161 shares during the last quarter. Barclays PLC grew its position in Cirrus Logic by 0.9% during the 4th quarter. Barclays PLC now owns 99,414 shares of the semiconductor company's stock worth $9,899,000 after acquiring an additional 932 shares during the last quarter. Finally, Mariner LLC grew its position in Cirrus Logic by 32.0% during the 4th quarter. Mariner LLC now owns 6,648 shares of the semiconductor company's stock worth $662,000 after acquiring an additional 1,610 shares during the last quarter. 87.96% of the stock is currently owned by institutional investors.

Cirrus Logic Stock Down 0.2%

CRUS traded down $0.22 during trading on Friday, reaching $112.77. 178,793 shares of the company were exchanged, compared to its average volume of 642,203. The company's 50-day moving average is $105.10 and its two-hundred day moving average is $101.31. The company has a market cap of $5.79 billion, a price-to-earnings ratio of 17.65 and a beta of 0.92. Cirrus Logic has a 12-month low of $75.83 and a 12-month high of $147.46.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.07 by $0.44. The business had revenue of $407.27 million for the quarter, compared to analysts' expectations of $361.97 million. Cirrus Logic had a return on equity of 18.38% and a net margin of 18.15%.The firm's quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.12 EPS. Cirrus Logic has set its Q2 2026 guidance at EPS. Equities analysts forecast that Cirrus Logic will post 5.63 earnings per share for the current year.

Cirrus Logic declared that its Board of Directors has authorized a share repurchase program on Tuesday, May 6th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the semiconductor company to purchase up to 9.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

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.