Cirrus Logic, Inc. (NASDAQ:CRUS) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Analysts rate Cirrus Logic a consensus “Moderate Buy.” Five of nine analysts recommend buying the stock, while four rate it a hold; the average 12-month price target is $160.29.
• Recent analyst actions were mixed: Jefferies upgraded the stock to buy, KeyCorp maintained an overweight rating but cut its target to $190, and Zacks downgraded it to hold.
• Cirrus Logic exceeded quarterly expectations, reporting $1.95 in EPS versus a $1.76 estimate and $448.52 million in revenue, up 5.7% year over year. Institutional investors own nearly 88% of the company, while insiders sold 23,465 shares worth about $3.74 million during the latest quarter.

Cirrus Logic, Inc. (NASDAQ:CRUS - Get Free Report) has received an average recommendation of "Moderate Buy" from the nine research firms that are covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $160.2857.

Several equities analysts have recently commented on the company. Jefferies Financial Group upgraded Cirrus Logic to a "buy" rating in a research note on Thursday, June 4th. KeyCorp dropped their price target on shares of Cirrus Logic from $200.00 to $190.00 and set an "overweight" rating for the company in a research note on Tuesday, July 14th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Cirrus Logic in a report on Wednesday, June 24th. Zacks Research downgraded shares of Cirrus Logic from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 27th. Finally, Stifel Nicolaus set a $197.00 price objective on shares of Cirrus Logic in a report on Thursday, May 7th.

Insiders Place Their Bets

In related news, EVP Scott Thomas sold 1,300 shares of the business's stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $180.04, for a total value of $234,052.00. Following the completion of the sale, the executive vice president directly owned 31,048 shares of the company's stock, valued at $5,589,881.92. The trade was a 4.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Alexander M. Davern sold 1,000 shares of the company's stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $159.00, for a total value of $159,000.00. Following the sale, the director owned 20,531 shares in the company, valued at $3,264,429. The trade was a 4.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 23,465 shares of company stock worth $3,743,219. Company insiders own 1.20% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CRUS. LSV Asset Management boosted its holdings in Cirrus Logic by 1.0% in the fourth quarter. LSV Asset Management now owns 2,356,245 shares of the semiconductor company's stock worth $279,215,000 after purchasing an additional 23,703 shares during the period. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Cirrus Logic by 0.7% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,578,555 shares of the semiconductor company's stock worth $187,059,000 after purchasing an additional 11,307 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Cirrus Logic by 6.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,328,155 shares of the semiconductor company's stock worth $192,055,000 after purchasing an additional 83,897 shares during the period. Allianz Asset Management GmbH lifted its position in shares of Cirrus Logic by 33.5% in the 4th quarter. Allianz Asset Management GmbH now owns 1,073,623 shares of the semiconductor company's stock worth $127,224,000 after buying an additional 269,391 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its position in shares of Cirrus Logic by 21.1% in the 1st quarter. Quantinno Capital Management LP now owns 942,207 shares of the semiconductor company's stock worth $136,262,000 after buying an additional 163,979 shares during the last quarter. Institutional investors and hedge funds own 87.96% of the company's stock.

Cirrus Logic Stock Performance

NASDAQ:CRUS opened at $129.35 on Friday. The stock has a market cap of $6.53 billion, a price-to-earnings ratio of 16.50 and a beta of 1.17. Cirrus Logic has a one year low of $92.02 and a one year high of $180.42. The business's 50-day simple moving average is $153.25 and its 200 day simple moving average is $148.83.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The semiconductor company reported $1.95 earnings per share for the quarter, beating analysts' consensus estimates of $1.76 by $0.19. Cirrus Logic had a return on equity of 20.48% and a net margin of 20.75%.The firm had revenue of $448.52 million during the quarter, compared to analyst estimates of $442.25 million. During the same quarter last year, the firm earned $1.67 EPS. Cirrus Logic's quarterly revenue was up 5.7% on a year-over-year basis. On average, equities research analysts predict that Cirrus Logic will post 7.86 EPS for the current year.

Cirrus Logic Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.