Cirrus Logic, Inc. (NASDAQ:CRUS) Given Consensus Recommendation of "Buy" by Brokerages

Cirrus Logic, Inc. (NASDAQ:CRUS - Get Free Report) has been given a consensus rating of "Buy" by the six analysts that are presently covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a buy rating. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $96.43.

CRUS has been the topic of a number of analyst reports. StockNews.com cut shares of Cirrus Logic from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 21st. Barclays boosted their price objective on shares of Cirrus Logic from $90.00 to $95.00 and gave the company an "overweight" rating in a research report on Tuesday, January 16th. TheStreet upgraded shares of Cirrus Logic from a "c+" rating to a "b-" rating in a research report on Tuesday, January 23rd. TD Cowen boosted their price objective on shares of Cirrus Logic from $90.00 to $100.00 and gave the company an "outperform" rating in a research report on Wednesday, February 7th. Finally, Susquehanna boosted their price objective on shares of Cirrus Logic from $85.00 to $100.00 and gave the company a "positive" rating in a research report on Wednesday, February 7th.

Insider Transactions at Cirrus Logic

In other news, SVP Justin E. Dougherty sold 3,280 shares of the company's stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $91.40, for a total value of $299,792.00. Following the transaction, the senior vice president now directly owns 6,000 shares in the company, valued at $548,400. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Cirrus Logic news, SVP Justin E. Dougherty sold 3,280 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $91.40, for a total transaction of $299,792.00. Following the transaction, the senior vice president now directly owns 6,000 shares in the company, valued at approximately $548,400. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Venkatesh Nathamuni sold 1,000 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $95.00, for a total transaction of $95,000.00. Following the transaction, the chief financial officer now owns 1,587 shares in the company, valued at $150,765. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,530 shares of company stock worth $700,292. Insiders own 0.89% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UBS Group AG lifted its position in shares of Cirrus Logic by 86.9% during the third quarter. UBS Group AG now owns 61,811 shares of the semiconductor company's stock valued at $4,572,000 after buying an additional 28,735 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Cirrus Logic by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 6,299,658 shares of the semiconductor company's stock valued at $465,923,000 after purchasing an additional 105,577 shares in the last quarter. FMR LLC lifted its holdings in Cirrus Logic by 4.5% in the 3rd quarter. FMR LLC now owns 7,552,630 shares of the semiconductor company's stock valued at $558,593,000 after purchasing an additional 327,269 shares in the last quarter. LSV Asset Management raised its holdings in shares of Cirrus Logic by 0.9% during the 3rd quarter. LSV Asset Management now owns 1,307,419 shares of the semiconductor company's stock worth $96,697,000 after acquiring an additional 12,300 shares during the period. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Cirrus Logic during the 3rd quarter worth $62,000. 87.96% of the stock is currently owned by institutional investors.

Cirrus Logic Stock Down 0.1 %

Cirrus Logic stock traded down $0.05 during mid-day trading on Wednesday, reaching $91.65. 322,214 shares of the company's stock traded hands, compared to its average volume of 442,608. The company has a market cap of $4.94 billion, a price-to-earnings ratio of 29.10, a PEG ratio of 16.32 and a beta of 1.00. The stock has a 50 day moving average of $88.98 and a two-hundred day moving average of $80.37. Cirrus Logic has a 12-month low of $65.02 and a 12-month high of $107.74.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last released its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $2.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.70 by $0.83. The company had revenue of $618.98 million for the quarter, compared to the consensus estimate of $539.55 million. Cirrus Logic had a net margin of 9.84% and a return on equity of 16.13%. As a group, sell-side analysts forecast that Cirrus Logic will post 4.79 earnings per share for the current year.

Cirrus Logic Company Profile

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.