Cirrus Logic, Inc. (NASDAQ:CRUS) Stock Has Consensus Target Price of $147.50 According to Analysts

Key Points

• Analysts have a consensus “Hold” rating on Cirrus Logic, with two sell, three hold, and four buy recommendations; the average one-year price target is $147.50.
• Recent analyst actions were mixed but included significant target cuts: Barclays lowered its target to $95 and rated the stock “Underweight,” while Stifel cut its target to $160 but maintained a “Buy” rating.
• Cirrus Logic beat quarterly estimates, reporting EPS of $2.70 versus $2.42 expected and revenue of $559.46 million versus $540.37 million expected; revenue was down 0.2% year over year.

Shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Get Free Report) have received a consensus rating of "Hold" from the nine brokerages that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $147.50.

Several equities analysts recently commented on the stock. Stifel Nicolaus decreased their price target on shares of Cirrus Logic from $197.00 to $160.00 and set a "buy" rating on the stock in a research note on Thursday, August 6th. Zacks Research downgraded Cirrus Logic from a "hold" rating to a "strong sell" rating in a research report on Friday, August 14th. Barclays lowered shares of Cirrus Logic from an "equal weight" rating to an "underweight" rating and decreased their target price for the company from $130.00 to $95.00 in a report on Tuesday, October 20th. Weiss Ratings downgraded shares of Cirrus Logic from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, November 3rd. Finally, Wall Street Zen cut Cirrus Logic from a "buy" rating to a "hold" rating in a research note on Sunday, October 18th.

Cirrus Logic Stock Performance

Shares of NASDAQ:CRUS opened at $113.58 on Monday. Cirrus Logic has a 52-week low of $105.10 and a 52-week high of $180.42. The company has a market capitalization of $5.69 billion, a P/E ratio of 14.34 and a beta of 1.23. The company has a 50-day simple moving average of $114.25 and a 200 day simple moving average of $138.17.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last issued its earnings results on Wednesday, November 4th. The semiconductor company reported $2.70 EPS for the quarter, topping the consensus estimate of $2.42 by $0.28. Cirrus Logic had a return on equity of 19.77% and a net margin of 20.20%. The company had revenue of $559.46 million during the quarter, compared to the consensus estimate of $540.37 million. During the same period in the previous year, the company posted $2.83 EPS. The firm's revenue for the quarter was down .2% compared to the same quarter last year. As a group, equities analysts forecast that Cirrus Logic will post 7.20 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Jeffrey Baumgartner sold 1,166 shares of Cirrus Logic stock in a transaction that occurred on Tuesday, October 20th. The shares were sold at an average price of $107.75, for a total transaction of $125,636.50. Following the sale, the executive vice president directly owned 11,741 shares in the company, valued at $1,265,092.75. This trade represents a 9.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 3,498 shares of company stock worth $401,850. 1.20% of the stock is owned by company insiders.

Institutional Trading of Cirrus Logic

Large investors have recently bought and sold shares of the business. BlackRock Inc. bought a new position in shares of Cirrus Logic during the 2nd quarter valued at approximately $840,638,000. Dimensional Fund Advisors LP grew its position in 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 buying an additional 83,897 shares in the last quarter. Bank of America Corp DE purchased a new position in Cirrus Logic during the second quarter worth about $168,329,000. Quantinno Capital Management LP grew its holdings in shares of Cirrus Logic by 21.1% during 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. Finally, First Trust Advisors LP increased its stake in Cirrus Logic by 34.3% in the first quarter. First Trust Advisors LP now owns 473,721 shares of the semiconductor company's stock valued at $68,509,000 after acquiring an additional 120,935 shares during the last quarter. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Cirrus Logic Company Profile

Cirrus Logic is a fabless semiconductor company that designs high-performance, low-power integrated circuits, with a focus on audio and mixed-signal technologies. Its products include audio converters and codecs, amplifiers, and other components used to capture, process, and reproduce sound.

The company also develops mixed-signal products for applications such as haptics and power management. Its chips are designed for a range of markets, including smartphones, computers, consumer audio equipment, automotive systems, and industrial devices.

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