Cirrus Logic, Inc. (NASDAQ:CRUS) Stock Has Consensus Price Target of $150.71

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, above the stock’s reported opening price of $108.34.
• Cirrus Logic’s latest quarterly results modestly beat expectations, with EPS of $1.84 versus the $1.81 consensus estimate; revenue reached $459.72 million and rose 12.9% year over year.
• Institutional investors own 87.96% of the company, while insiders have sold 3,498 shares worth approximately $437,786 over the past 90 days.

Shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Get Free Report) have been given an average rating of "Hold" by the nine analysts that are 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 issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $150.71.

Several research firms have commented on CRUS. Wall Street Zen raised Cirrus Logic from a "hold" rating to a "buy" rating in a report on Saturday, October 10th. Zacks Research downgraded Cirrus Logic from a "hold" rating to a "strong sell" rating in a research note on Friday, August 14th. Weiss Ratings downgraded Cirrus Logic from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, October 2nd. Stifel Nicolaus decreased their target price on Cirrus Logic from $197.00 to $160.00 and set a "buy" rating for the company in a research report on Thursday, August 6th. Finally, KeyCorp lowered their target price on Cirrus Logic from $190.00 to $170.00 and set an "overweight" rating on the stock in a research note on Thursday, August 6th.

Cirrus Logic Trading Up 0.3%

Cirrus Logic stock opened at $108.34 on Thursday. The firm has a market capitalization of $5.43 billion, a price-to-earnings ratio of 13.26 and a beta of 1.17. The firm's fifty day moving average price is $116.34 and its two-hundred day moving average price is $142.02. Cirrus Logic has a 1-year low of $105.77 and a 1-year high of $180.42.

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

Insider Buying and Selling at Cirrus Logic

In other news, EVP Jeffrey Baumgartner sold 1,166 shares of the firm's stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $119.00, for a total transaction of $138,754.00. Following the completion of the sale, the executive vice president owned 12,907 shares in the company, valued at $1,535,933. This trade represents a 8.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 3,498 shares of company stock worth $437,786. 1.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Coppell Advisory Solutions LLC purchased a new position in shares of Cirrus Logic during the second quarter valued at about $39,000. Public Employees Retirement System of Ohio bought a new position in shares of Cirrus Logic in the 2nd quarter worth approximately $2,859,000. Assenagon Asset Management S.A. grew its stake in Cirrus Logic by 37.6% in the second quarter. Assenagon Asset Management S.A. now owns 213,871 shares of the semiconductor company's stock worth $31,766,000 after purchasing an additional 58,446 shares during the period. Bank of America Corp DE purchased a new stake in Cirrus Logic in the second quarter worth $168,329,000. Finally, Quantinno Capital Management LP raised its holdings in Cirrus Logic by 21.1% in the first quarter. Quantinno Capital Management LP now owns 942,207 shares of the semiconductor company's stock worth $136,262,000 after purchasing an additional 163,979 shares in the last quarter. Institutional investors own 87.96% of the company's stock.

Cirrus Logic Company Profile

Cirrus Logic, Inc is a fabless semiconductor company that develops high-performance, low-power analog and mixed-signal processing solutions. Its technologies are designed to capture, process, and enhance audio and other sensory signals in electronic devices.

The company's products include audio converters, codecs, amplifiers, digital signal processors, voice-input components, and haptic and sensing solutions. These products are used in smartphones, laptops, tablets, headphones, home audio equipment, automotive systems, and other consumer and industrial applications.

Headquartered in Austin, Texas, Cirrus Logic serves customers globally through a combination of product development, engineering, sales, and support operations.

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