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

Key Points

• Analysts rate Cirrus Logic “Hold” on average: Among nine brokerages, five recommend buying, three recommend holding, and one recommends selling. The average 12-month price target is $150.71.
• Recent results were mixed but profitable: Quarterly EPS of $1.84 exceeded estimates of $1.81, while revenue of $459.72 million narrowly missed expectations; revenue still grew 12.9% year over year.
• Shares have declined from their 52-week high: Cirrus Logic opened at $111.43, versus a 52-week range of $109.88 to $180.42. Insiders sold $2.54 million of stock over the past 90 days, while institutional investors own 87.96% of shares.

Cirrus Logic, Inc. (NASDAQ:CRUS - Get Free Report) has earned an average recommendation of "Hold" from the nine brokerages that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $150.7143.

A number of research firms have weighed in on CRUS. KeyCorp dropped their price objective on shares of Cirrus Logic from $190.00 to $170.00 and set an "overweight" 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. Wall Street Zen lowered shares of Cirrus Logic from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Jefferies Financial Group upgraded shares of Cirrus Logic to a "buy" rating in a report on Thursday, June 4th. Finally, Zacks Research cut shares of Cirrus Logic from a "hold" rating to a "strong sell" rating in a research report on Friday, August 14th.

Cirrus Logic Stock Down 0.2%

NASDAQ CRUS opened at $111.43 on Wednesday. Cirrus Logic has a 52 week low of $109.88 and a 52 week high of $180.42. The business has a 50 day moving average price of $137.07 and a 200-day moving average price of $148.22. The company has a market cap of $5.58 billion, a price-to-earnings ratio of 13.64 and a beta of 1.18.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last issued its earnings results on Wednesday, August 5th. The semiconductor company reported $1.84 earnings per share (EPS) for the quarter, topping 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 company had revenue of $459.72 million for the quarter, compared to analysts' expectations of $460.32 million. During the same period last year, the business earned $1.51 EPS. Cirrus Logic's quarterly revenue was up 12.9% compared to the same quarter last year. On average, equities research analysts anticipate that Cirrus Logic will post 7.47 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Scott Thomas sold 1,300 shares of Cirrus Logic stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $180.04, for a total transaction of $234,052.00. Following the transaction, the executive vice president 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 at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Andrew Brannan sold 6,464 shares of the company's stock in a transaction on Monday, June 29th. The stock was sold at an average price of $144.71, for a total value of $935,405.44. Following the sale, the executive vice president owned 7,203 shares of the company's stock, valued at $1,042,346.13. This trade represents a 47.30% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 16,631 shares of company stock valued at $2,536,629. Corporate insiders own 1.20% of the company's stock.

Hedge Funds Weigh In On Cirrus Logic

Large investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd raised its holdings in shares of Cirrus Logic by 7,333.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 223 shares of the semiconductor company's stock valued at $26,000 after purchasing an additional 220 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Cirrus Logic by 120.0% during the first quarter. Geneos Wealth Management Inc. now owns 220 shares of the semiconductor company's stock valued at $32,000 after purchasing an additional 120 shares in the last quarter. Kohmann Bosshard Financial Services LLC purchased a new position in Cirrus Logic during the fourth quarter worth about $33,000. Torren Management LLC purchased a new position in Cirrus Logic during the fourth quarter worth about $35,000. Finally, Kestra Advisory Services LLC bought a new stake in Cirrus Logic in the 4th quarter worth about $36,000. 87.96% of the stock is currently 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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