Cirrus Logic, Inc. (NASDAQ:CRUS) has received an average recommendation of "Buy" from the sixteen analysts that are presently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $102.41.
CRUS has been the subject of several research reports. Bank of America downgraded shares of Cirrus Logic from a "buy" rating to a "neutral" rating and set a $92.00 price target for the company. in a research report on Thursday. Susquehanna restated a "buy" rating and set a $115.00 price objective on shares of Cirrus Logic in a research report on Thursday. KeyCorp upped their price objective on shares of Cirrus Logic from $100.00 to $105.00 and gave the stock an "overweight" rating in a research report on Thursday. Oppenheimer set a $85.79 price objective on shares of Cirrus Logic in a research report on Saturday, July 10th. Finally, Benchmark initiated coverage on shares of Cirrus Logic in a research report on Thursday. They set a "buy" rating and a $110.00 price objective for the company.
Shares of NASDAQ:CRUS opened at $82.59 on Friday. The stock has a market cap of $4.75 billion, a P/E ratio of 22.81, a PEG ratio of 2.59 and a beta of 0.91. Cirrus Logic has a twelve month low of $55.84 and a twelve month high of $103.25. The business's 50 day moving average is $81.33.
Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results on Tuesday, July 27th. The semiconductor company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.16 by $0.38. Cirrus Logic had a net margin of 15.87% and a return on equity of 17.06%. As a group, sell-side analysts predict that Cirrus Logic will post 3.88 earnings per share for the current fiscal year.
In other Cirrus Logic news, VP Andrew Brannan sold 7,553 shares of the firm's stock in a transaction on Tuesday, May 4th. The stock was sold at an average price of $75.00, for a total value of $566,475.00. Following the sale, the vice president now directly owns 5,593 shares in the company, valued at $419,475. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alan R. Schuele sold 5,000 shares of Cirrus Logic stock in a transaction dated Wednesday, July 28th. The shares were sold at an average price of $83.29, for a total transaction of $416,450.00. The disclosure for this sale can be found here. Insiders sold 63,659 shares of company stock worth $5,306,663 in the last 90 days. 2.04% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in CRUS. Van ECK Associates Corp purchased a new position in Cirrus Logic in the 1st quarter worth about $26,000. Exchange Traded Concepts LLC acquired a new stake in Cirrus Logic in the 1st quarter worth approximately $40,000. Meeder Asset Management Inc. lifted its holdings in Cirrus Logic by 31,300.0% in the 1st quarter. Meeder Asset Management Inc. now owns 942 shares of the semiconductor company's stock worth $80,000 after purchasing an additional 939 shares during the last quarter. Lazard Asset Management LLC acquired a new position in shares of Cirrus Logic during the first quarter worth approximately $86,000. Finally, Captrust Financial Advisors lifted its holdings in shares of Cirrus Logic by 31.1% during the fourth quarter. Captrust Financial Advisors now owns 1,447 shares of the semiconductor company's stock worth $119,000 after buying an additional 343 shares during the last quarter. 85.21% of the stock is currently owned by hedge funds and other institutional investors.
About Cirrus Logic
Cirrus Logic, Inc develops high-precision, analog and mixed-signal integrated circuits for a range of customers. It builds an analog and signal-processing patent portfolio. The firm delivers optimized products for a variety of audio, industrial and energy-related applications. Its product lines include portable audio products and non-portable audio and other products.
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