Analysts Set Cirrus Logic, Inc. (NASDAQ:CRUS) Price Target at $132.86

Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) have been given a consensus rating of “Moderate Buy” by the seven research firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $132.86.

CRUS has been the topic of a number of research analyst reports. StockNews.com upgraded shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Benchmark restated a “buy” rating and set a $125.00 price objective on shares of Cirrus Logic in a research report on Wednesday, March 19th. Finally, Barclays increased their price objective on shares of Cirrus Logic from $105.00 to $115.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th.

Cirrus Logic Stock Performance

Shares of NASDAQ CRUS opened at $99.79 on Wednesday. The firm’s 50 day moving average price is $103.35 and its 200-day moving average price is $109.30. The company has a market cap of $5.30 billion, a PE ratio of 18.11 and a beta of 0.89. Cirrus Logic has a 52-week low of $81.30 and a 52-week high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.21). Cirrus Logic had a net margin of 16.55% and a return on equity of 16.60%. On average, analysts forecast that Cirrus Logic will post 5.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $100.00, for a total value of $205,100.00. Following the completion of the sale, the executive vice president now directly owns 8,330 shares of the company’s stock, valued at $833,000. This represents a 19.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.02% of the company’s stock.

Institutional Trading of Cirrus Logic

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Atria Investments Inc increased its stake in shares of Cirrus Logic by 2.9% in the third quarter. Atria Investments Inc now owns 3,596 shares of the semiconductor company’s stock worth $447,000 after purchasing an additional 101 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Cirrus Logic by 0.7% in the fourth quarter. Arizona State Retirement System now owns 15,492 shares of the semiconductor company’s stock worth $1,543,000 after purchasing an additional 101 shares in the last quarter. Truvestments Capital LLC increased its stake in shares of Cirrus Logic by 3.5% in the fourth quarter. Truvestments Capital LLC now owns 3,981 shares of the semiconductor company’s stock worth $396,000 after purchasing an additional 133 shares in the last quarter. Captrust Financial Advisors increased its stake in shares of Cirrus Logic by 5.3% in the third quarter. Captrust Financial Advisors now owns 2,838 shares of the semiconductor company’s stock worth $353,000 after purchasing an additional 142 shares in the last quarter. Finally, Ritholtz Wealth Management increased its stake in shares of Cirrus Logic by 4.1% in the fourth quarter. Ritholtz Wealth Management now owns 3,925 shares of the semiconductor company’s stock worth $391,000 after purchasing an additional 153 shares in the last quarter. 87.96% of the stock is owned by hedge funds and other institutional investors.

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 amplifiers; 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 integrated digital signal processing; 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 for use in smartphones, tablets, laptops, AR/VR headsets, home theater systems, automotive entertainment systems, and professional audio systems.