Cirrus Logic, Inc. (NASDAQ:CRUS) Given Consensus Rating of “Moderate Buy” by Brokerages

Cirrus Logic, Inc. (NASDAQ:CRUS) has earned an average recommendation of “Moderate Buy” from the eight ratings firms that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $145.4286.

A number of research analysts have commented on the stock. Loop Capital cut shares of Cirrus Logic from a “buy” rating to a “hold” rating and set a $130.00 price target for the company. in a research note on Monday, February 2nd. Stifel Nicolaus raised their target price on Cirrus Logic from $150.00 to $163.00 and gave the stock a “buy” rating in a research report on Wednesday, February 4th. Benchmark upped their price target on Cirrus Logic from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, February 4th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cirrus Logic in a research note on Monday, December 29th. Finally, Williams Trading set a $150.00 target price on shares of Cirrus Logic in a research note on Wednesday, November 5th.

Insider Activity

In related news, EVP Scott Thomas sold 3,239 shares of Cirrus Logic stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $141.63, for a total value of $458,739.57. Following the completion of the transaction, the executive vice president directly owned 30,393 shares of the company’s stock, valued at $4,304,560.59. The trade was a 9.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Justin E. Dougherty sold 3,000 shares of the company’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $143.16, for a total value of $429,480.00. Following the transaction, the executive vice president directly owned 5,876 shares in the company, valued at $841,208.16. This trade represents a 33.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 28,045 shares of company stock worth $3,835,300. 1.16% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Royal Bank of Canada grew its holdings in shares of Cirrus Logic by 92.3% in the 1st quarter. Royal Bank of Canada now owns 72,134 shares of the semiconductor company’s stock valued at $7,189,000 after acquiring an additional 34,629 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Cirrus Logic by 24.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,320 shares of the semiconductor company’s stock valued at $132,000 after purchasing an additional 263 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Cirrus Logic by 4.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 214,457 shares of the semiconductor company’s stock valued at $21,372,000 after purchasing an additional 9,658 shares in the last quarter. Focus Partners Wealth acquired a new position in shares of Cirrus Logic during the 1st quarter worth approximately $361,000. Finally, Geneos Wealth Management Inc. raised its stake in shares of Cirrus Logic by 95.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 476 shares of the semiconductor company’s stock worth $47,000 after purchasing an additional 232 shares in the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

Cirrus Logic Trading Up 1.8%

Shares of CRUS stock opened at $144.63 on Friday. Cirrus Logic has a 12 month low of $75.83 and a 12 month high of $146.88. The company has a market capitalization of $7.38 billion, a P/E ratio of 19.06 and a beta of 1.12. The stock has a 50 day moving average of $126.42 and a two-hundred day moving average of $121.52.

Cirrus Logic (NASDAQ:CRUS) last issued its earnings results on Tuesday, February 3rd. The semiconductor company reported $2.97 EPS for the quarter, beating analysts’ consensus estimates of $2.37 by $0.60. Cirrus Logic had a return on equity of 20.41% and a net margin of 20.47%.The business had revenue of $580.62 million during the quarter, compared to analyst estimates of $531.43 million. During the same period in the prior year, the company posted $2.51 earnings per share. Cirrus Logic’s revenue was up 4.5% on a year-over-year basis. Sell-side analysts predict that Cirrus Logic will post 5.63 earnings per share for the current fiscal year.

Cirrus Logic Company Profile

Cirrus Logic, Inc, headquartered in Austin, Texas, is a fabless semiconductor company specializing in high-precision analog and mixed-signal processing solutions. The firm develops low-power, high-performance audio, voice, and power management integrated circuits, serving prominent consumer electronics OEMs. Its semiconductor devices are designed to enhance audio quality, battery life, and system integration in mobile phones, tablets, wireless headsets and other portable devices.

The company’s product portfolio includes digital-to-analog converters (DACs), analog-to-digital converters (ADCs), audio codecs, power management ICs, voice processors and integrated amplifiers.