Cirrus Logic (NASDAQ:CRUS) Price Target Raised to $120.00 at Susquehanna

Cirrus Logic (NASDAQ:CRUS) had its target price raised by Susquehanna from $100.00 to $120.00 in a report issued on Wednesday morning, Benzinga reports. The brokerage currently has a positive rating on the semiconductor company’s stock.

Other research analysts also recently issued research reports about the company. Stifel Nicolaus increased their target price on Cirrus Logic from $95.00 to $100.00 and gave the company a buy rating in a report on Wednesday, February 7th. TheStreet raised shares of Cirrus Logic from a c+ rating to a b- rating in a report on Tuesday, January 23rd. TD Cowen boosted their target price on shares of Cirrus Logic from $100.00 to $115.00 and gave the company a buy rating in a research report on Wednesday. Barclays increased their price target on shares of Cirrus Logic from $90.00 to $95.00 and gave the stock an overweight rating in a research report on Tuesday, January 16th. Finally, StockNews.com downgraded shares of Cirrus Logic from a strong-buy rating to a buy rating in a research report on Saturday, April 20th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Buy and an average price target of $107.86.

Cirrus Logic Stock Performance

CRUS opened at $102.24 on Wednesday. The stock has a market capitalization of $5.51 billion, a P/E ratio of 32.46 and a beta of 0.99. The company’s 50-day simple moving average is $89.88 and its two-hundred day simple moving average is $83.31. Cirrus Logic has a 52-week low of $65.02 and a 52-week high of $103.30.

Cirrus Logic (NASDAQ:CRUS) last announced its earnings results on Tuesday, February 6th. The semiconductor company reported $2.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.83. The business had revenue of $618.98 million during the quarter, compared to analyst estimates of $539.55 million. Cirrus Logic had a net margin of 9.84% and a return on equity of 16.13%. Research analysts forecast that Cirrus Logic will post 4.79 EPS for the current fiscal year.

Insider Activity

In other Cirrus Logic news, SVP Justin E. Dougherty sold 3,280 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $91.40, for a total transaction of $299,792.00. Following the sale, the senior vice president now directly owns 6,000 shares of the company’s stock, valued at $548,400. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On Cirrus Logic

Institutional investors and hedge funds have recently modified their holdings of the stock. Venturi Wealth Management LLC boosted 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 valued at $31,000 after buying an additional 178 shares during the last quarter. Atlas Capital Advisors LLC boosted its position in shares of Cirrus Logic by 103.0% during the 1st quarter. Atlas Capital Advisors LLC now owns 402 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 204 shares during the last quarter. Quadrant Capital Group LLC boosted its position in shares of Cirrus Logic by 72.3% during the 4th quarter. Quadrant Capital Group LLC now owns 510 shares of the semiconductor company’s stock valued at $42,000 after acquiring an additional 214 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Cirrus Logic by 71.1% in the third quarter. Nisa Investment Advisors LLC now owns 722 shares of the semiconductor company’s stock valued at $53,000 after purchasing an additional 300 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Cirrus Logic in the 3rd quarter worth $62,000. Institutional investors own 87.96% of the company’s stock.

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 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.