Cirrus Logic (NASDAQ:CRUS) Given New $160.00 Price Target at Susquehanna

Cirrus Logic (NASDAQ:CRUS) had its target price reduced by Susquehanna from $175.00 to $160.00 in a research report sent to investors on Monday, Benzinga reports. They currently have a positive rating on the semiconductor company’s stock.

A number of other equities analysts have also issued reports on the company. Stifel Nicolaus increased their price target on Cirrus Logic from $110.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. KeyCorp raised their target price on Cirrus Logic from $155.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. StockNews.com lowered Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. Finally, Barclays downgraded shares of Cirrus Logic from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $140.00 to $120.00 in a report on Thursday, October 10th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $137.50.

Cirrus Logic Stock Performance

Shares of CRUS opened at $125.28 on Monday. Cirrus Logic has a one year low of $65.02 and a one year high of $147.46. The stock’s fifty day moving average is $130.45 and its 200-day moving average is $119.82. The firm has a market capitalization of $6.70 billion, a price-to-earnings ratio of 25.41 and a beta of 0.96.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.50. The company had revenue of $374.03 million for the quarter, compared to the consensus estimate of $318.41 million. Cirrus Logic had a net margin of 16.31% and a return on equity of 17.42%. Cirrus Logic’s revenue was up 18.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.35 EPS. Analysts forecast that Cirrus Logic will post 5.26 EPS for the current fiscal year.

Insider Activity at Cirrus Logic

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 sale, the vice president now owns 4,004 shares in the company, valued at approximately $544,704.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Justin E. Dougherty sold 10,203 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $131.71, for a total value of $1,343,837.13. Following the completion of the transaction, the senior vice president now owns 4,838 shares of the company’s stock, valued at approximately $637,212.98. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $591,774.00. Following the sale, the vice president now directly owns 4,004 shares in the company, valued at approximately $544,704.16. This trade represents 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 currently owned by corporate insiders.

Institutional Trading of Cirrus Logic

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in Cirrus Logic by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 6,363,188 shares of the semiconductor company’s stock worth $588,977,000 after acquiring an additional 128,393 shares during the period. LSV Asset Management lifted its position in shares of Cirrus Logic by 34.6% in the second quarter. LSV Asset Management now owns 1,890,493 shares of the semiconductor company’s stock worth $241,340,000 after purchasing an additional 486,086 shares in the last quarter. Earnest Partners LLC boosted its holdings in shares of Cirrus Logic by 3.0% during the second quarter. Earnest Partners LLC now owns 1,358,140 shares of the semiconductor company’s stock worth $173,380,000 after purchasing an additional 39,759 shares during the period. Sei Investments Co. grew its position in Cirrus Logic by 8.6% during the second quarter. Sei Investments Co. now owns 756,585 shares of the semiconductor company’s stock valued at $96,587,000 after purchasing an additional 59,690 shares in the last quarter. Finally, Pacer Advisors Inc. grew its position in Cirrus Logic by 8,183.4% during the second quarter. Pacer Advisors Inc. now owns 665,320 shares of the semiconductor company’s stock valued at $84,935,000 after purchasing an additional 657,288 shares in the last quarter. 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.