Cirrus Logic (NASDAQ:CRUS) Given New $135.00 Price Target at Susquehanna

Cirrus Logic (NASDAQ:CRUS) had its price target decreased by Susquehanna from $160.00 to $135.00 in a research note released on Tuesday, Benzinga reports. Susquehanna currently has a positive rating on the semiconductor company’s stock.

Several other research firms also recently weighed in on CRUS. KeyCorp increased their target price on Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Barclays downgraded shares of Cirrus Logic from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $140.00 to $120.00 in a research note on Thursday, October 10th. StockNews.com lowered shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. Finally, Stifel Nicolaus increased their target price on Cirrus Logic from $110.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $132.00.

Cirrus Logic Trading Down 7.1 %

Cirrus Logic stock opened at $102.79 on Tuesday. The stock has a market cap of $5.49 billion, a PE ratio of 19.00 and a beta of 0.96. The stock has a 50-day moving average price of $124.88 and a 200 day moving average price of $122.24. Cirrus Logic has a 52 week low of $69.23 and a 52 week high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings data on Monday, November 4th. The semiconductor company reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.23. The business had revenue of $541.90 million for the quarter, compared to the consensus estimate of $520.53 million. Cirrus Logic had a net margin of 16.31% and a return on equity of 17.42%. The company’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.43 earnings per share. On average, equities analysts predict that Cirrus Logic will post 5.37 EPS for the current year.

Insider Buying and Selling

In other Cirrus Logic news, VP Andrew Brannan sold 4,350 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $136.04, for a total transaction of $591,774.00. Following the transaction, the vice president now owns 4,004 shares in the company, valued at $544,704.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Cirrus Logic news, VP Andrew Brannan sold 4,350 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $136.04, for a total value of $591,774.00. Following the transaction, the vice president now owns 4,004 shares in the company, valued at $544,704.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Justin E. Dougherty sold 10,203 shares of Cirrus Logic stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $131.71, for a total value of $1,343,837.13. Following the sale, the senior vice president now directly owns 4,838 shares in the company, valued at approximately $637,212.98. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.02% of the stock is owned by corporate insiders.

Institutional Trading of Cirrus Logic

Hedge funds have recently made changes to their positions in the stock. Nisa Investment Advisors LLC grew its holdings in Cirrus Logic by 98.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 120 shares in the last quarter. V Square Quantitative Management LLC bought a new position in Cirrus Logic during the 3rd quarter worth approximately $31,000. Versant Capital Management Inc increased its holdings in shares of Cirrus Logic by 1,911.1% in the 2nd quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company’s stock valued at $46,000 after acquiring an additional 344 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Cirrus Logic by 79.5% during the 2nd quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company’s stock valued at $61,000 after acquiring an additional 210 shares in the last quarter. Finally, 1620 Investment Advisors Inc. bought a new position in Cirrus Logic during the second quarter worth $77,000. Institutional investors and hedge funds own 87.96% of the company’s stock.

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 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.