Cirrus Logic (NASDAQ:CRUS) Price Target Raised to $110.00 at Stifel Nicolaus

Cirrus Logic (NASDAQ:CRUS) had its price target upped by equities research analysts at Stifel Nicolaus from $100.00 to $110.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 8.75% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. TheStreet upgraded shares of Cirrus Logic from a “c+” rating to a “b-” rating in a research note on Tuesday, January 23rd. StockNews.com cut shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 20th. Barclays raised their price objective on shares of Cirrus Logic from $90.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, January 16th. Susquehanna raised their price objective on shares of Cirrus Logic from $100.00 to $120.00 and gave the company a “positive” rating in a research note on Wednesday. Finally, TD Cowen lifted their target price on shares of Cirrus Logic from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $102.86.

Cirrus Logic Price Performance

Shares of CRUS stock traded up $10.02 during mid-day trading on Wednesday, hitting $101.15. The stock had a trading volume of 267,148 shares, compared to its average volume of 411,119. Cirrus Logic has a fifty-two week low of $65.02 and a fifty-two week high of $103.30. The firm has a market cap of $5.45 billion, a PE ratio of 32.11 and a beta of 0.99. The company’s 50-day simple moving average is $89.63 and its 200-day simple moving average is $83.17.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $2.53 EPS for the quarter, beating the consensus estimate of $1.70 by $0.83. Cirrus Logic had a net margin of 9.84% and a return on equity of 16.13%. The firm had revenue of $618.98 million during the quarter, compared to analysts’ expectations of $539.55 million. On average, analysts expect that Cirrus Logic will post 4.79 EPS for the current year.

Insider Transactions at Cirrus Logic

In other news, VP Andrew Brannan sold 3,250 shares of Cirrus Logic stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $94.00, for a total transaction of $305,500.00. Following the completion of the sale, the vice president now directly owns 6,055 shares in the company, valued at $569,170. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, SVP Justin E. Dougherty sold 3,280 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $91.40, for a total value of $299,792.00. Following the completion of the sale, the senior vice president now directly owns 6,000 shares in the company, valued at $548,400. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Andrew Brannan sold 3,250 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $94.00, for a total transaction of $305,500.00. Following the completion of the sale, the vice president now owns 6,055 shares of the company’s stock, valued at $569,170. The disclosure for this sale can be found here. Insiders sold a total of 7,530 shares of company stock worth $700,292 over the last ninety days. 0.89% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cirrus Logic

Several institutional investors have recently bought and sold shares of CRUS. Venturi Wealth Management LLC grew its stake in Cirrus Logic by 93.7% during the fourth quarter. Venturi Wealth Management LLC now owns 368 shares of the semiconductor company’s stock worth $31,000 after buying an additional 178 shares during the period. Atlas Capital Advisors LLC lifted its position in shares of Cirrus Logic by 103.0% during the first quarter. Atlas Capital Advisors LLC now owns 402 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 204 shares in the last quarter. Quadrant Capital Group LLC lifted its position in shares of Cirrus Logic by 72.3% during the fourth quarter. Quadrant Capital Group LLC now owns 510 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 214 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Cirrus Logic by 71.1% during the third quarter. Nisa Investment Advisors LLC now owns 722 shares of the semiconductor company’s stock worth $53,000 after purchasing an additional 300 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Cirrus Logic during the third quarter worth $62,000. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

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.