Cirrus Logic (NASDAQ:CRUS) Reaches New 12-Month High at $108.32

Cirrus Logic, Inc. (NASDAQ:CRUS - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $108.32 and last traded at $107.71, with a volume of 9047 shares. The stock had previously closed at $107.78.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CRUS shares. Susquehanna raised their price objective on shares of Cirrus Logic from $100.00 to $120.00 and gave the stock a "positive" rating in a research note on Wednesday, May 8th. TheStreet upgraded shares of Cirrus Logic from a "c+" rating to a "b-" rating in a research note on Tuesday, January 23rd. KeyCorp lifted their price target on shares of Cirrus Logic from $100.00 to $120.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 8th. Barclays lifted their price target on shares of Cirrus Logic from $95.00 to $110.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 8th. Finally, Stifel Nicolaus lifted their price target on shares of Cirrus Logic from $100.00 to $110.00 and gave the stock a "buy" rating in a research note on Wednesday, May 8th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $107.86.

Cirrus Logic Trading Up 2.7 %

The company has a market capitalization of $5.97 billion, a price-to-earnings ratio of 21.86 and a beta of 0.99. The company has a 50 day moving average price of $90.69 and a 200 day moving average price of $84.24.

Insider Buying and Selling

In other Cirrus Logic news, SVP Justin E. Dougherty sold 4,000 shares of Cirrus Logic stock in a transaction on Monday, May 13th. The shares were sold at an average price of $107.85, for a total transaction of $431,400.00. Following the completion of the sale, the senior vice president now owns 5,838 shares of the company's stock, valued at approximately $629,628.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Justin E. Dougherty sold 4,000 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $107.85, for a total value of $431,400.00. Following the transaction, the senior vice president now owns 5,838 shares of the company's stock, valued at approximately $629,628.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Justin E. Dougherty sold 3,280 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $91.40, for a total value of $299,792.00. Following the completion of the transaction, the senior vice president now directly owns 6,000 shares in the company, valued at approximately $548,400. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CRUS. MQS Management LLC increased its position in Cirrus Logic by 4.0% during the third quarter. MQS Management LLC now owns 4,298 shares of the semiconductor company's stock worth $318,000 after buying an additional 164 shares during the last quarter. Truvestments Capital LLC boosted its holdings in shares of Cirrus Logic by 5.2% during the third quarter. Truvestments Capital LLC now owns 3,462 shares of the semiconductor company's stock worth $256,000 after acquiring an additional 171 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Cirrus Logic by 0.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 26,963 shares of the semiconductor company's stock worth $1,994,000 after acquiring an additional 172 shares during the period. Covestor Ltd boosted its holdings in shares of Cirrus Logic by 13.2% during the third quarter. Covestor Ltd now owns 1,492 shares of the semiconductor company's stock worth $110,000 after acquiring an additional 174 shares during the period. Finally, Venturi Wealth Management LLC boosted its holdings in shares of Cirrus Logic by 93.7% during the fourth quarter. Venturi Wealth Management LLC now owns 368 shares of the semiconductor company's stock worth $31,000 after acquiring an additional 178 shares during the period. Institutional investors and hedge funds own 87.96% of the company's stock.

About Cirrus Logic

Cirrus Logic, Inc, a fabless semiconductor company, develops low-power, high-precision mixed-signal processing solutions in China, the United States, and internationally. The company offers audio products, including codecs components that integrate analog-to-digital converters (ADCs) and digital-to-analog converters (DACs) into a single integrated circuit (IC); smart codecs, a codec with digital signal processing; boosted amplifiers; standalone digital signal processors; and SoundClear technology, which consists of a portfolio of tools, software, and algorithms that helps to enhance user experience with features, such as louder, high-fidelity sound, audio playback, voice capture, and hearing augmentation.