Cirrus Logic, Inc. (NASDAQ:CRUS) Receives Average Rating of "Hold" from Analysts

Key Points

• Analysts have a consensus “Hold” rating on Cirrus Logic, with five buys, three holds and one sell among nine analysts. The average 12-month price target is $150.71.
• Cirrus Logic reported quarterly EPS of $1.84, beating estimates of $1.81, while revenue reached $459.72 million and rose 12.9% year over year, narrowly missing expectations.
• The stock opened at $118.82, well below its 52-week high of $180.42. Insiders sold $1.64 million of shares over the past three months, while institutional investors own nearly 88% of the company.

Shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Get Free Report) have been assigned a consensus rating of "Hold" from the nine analysts that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $150.7143.

A number of equities research analysts have recently commented on CRUS shares. Jefferies Financial Group raised Cirrus Logic to a "buy" rating in a research report on Thursday, June 4th. Barclays cut their price objective on Cirrus Logic from $140.00 to $130.00 and set an "equal weight" rating on the stock in a report on Thursday, August 6th. Stifel Nicolaus reduced their price objective on 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 reissued a "hold (c+)" rating on shares of Cirrus Logic in a research report on Wednesday, June 24th. Finally, Zacks Research downgraded shares of Cirrus Logic from a "hold" rating to a "strong sell" rating in a research report on Friday, August 14th.

Cirrus Logic Price Performance

Shares of CRUS opened at $118.82 on Friday. Cirrus Logic has a 1-year low of $106.26 and a 1-year high of $180.42. The stock has a market cap of $5.96 billion, a price-to-earnings ratio of 14.54 and a beta of 1.16. The firm has a 50 day simple moving average of $123.17 and a 200-day simple moving average of $144.57.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last announced its earnings results on Wednesday, August 5th. The semiconductor company reported $1.84 EPS for the quarter, beating analysts' consensus estimates of $1.81 by $0.03. Cirrus Logic had a return on equity of 20.61% and a net margin of 21.00%.The firm had revenue of $459.72 million for the quarter, compared to analysts' expectations of $460.32 million. During the same quarter in the prior year, the firm earned $1.51 EPS. Cirrus Logic's quarterly revenue was up 12.9% on a year-over-year basis. On average, equities analysts expect that Cirrus Logic will post 7.32 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Andrew Brannan sold 6,464 shares of the firm's stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $144.71, for a total transaction of $935,405.44. Following the sale, the executive vice president directly owned 7,203 shares in the company, valued at approximately $1,042,346.13. This trade represents a 47.30% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jeffrey W. Baumgartner sold 1,458 shares of the business's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $145.97, for a total value of $212,824.26. Following the transaction, the executive vice president directly owned 16,405 shares in the company, valued at $2,394,637.85. This trade represents a 8.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 11,424 shares of company stock worth $1,644,091 over the last three months. 1.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cirrus Logic

Institutional investors have recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC lifted its stake in shares of Cirrus Logic by 3.0% in the second quarter. Sequoia Financial Advisors LLC now owns 7,477 shares of the semiconductor company's stock worth $1,111,000 after acquiring an additional 218 shares in the last quarter. Tidal Investments LLC grew its stake in Cirrus Logic by 89.1% during the 2nd quarter. Tidal Investments LLC now owns 13,923 shares of the semiconductor company's stock valued at $2,068,000 after purchasing an additional 6,559 shares in the last quarter. Archford Capital Strategies LLC acquired a new stake in Cirrus Logic during the 2nd quarter valued at approximately $1,186,000. IFP Advisors Inc increased its holdings in Cirrus Logic by 12.9% during the 2nd quarter. IFP Advisors Inc now owns 4,712 shares of the semiconductor company's stock worth $700,000 after purchasing an additional 538 shares during the last quarter. Finally, Nykredit A S purchased a new stake in Cirrus Logic during the 2nd quarter worth approximately $264,000. Institutional investors and hedge funds own 87.96% of the company's stock.

About Cirrus Logic

Cirrus Logic, Inc NASDAQ: CRUS is a fabless semiconductor company that develops high-performance, low-power integrated circuits and related software. Its products are designed to process audio and other mixed-signal information in electronic devices, helping manufacturers deliver high-quality sound, efficient power management and responsive user experiences.

The company's product portfolio includes audio codecs, digital-to-analog and analog-to-digital converters, amplifiers, smart codecs, haptic-control solutions and other mixed-signal components.

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