Analysts Set Cirrus Logic, Inc. (NASDAQ:CRUS) PT at $145.43

Cirrus Logic, Inc. (NASDAQ:CRUS) has earned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $145.4286.

Several analysts have weighed in on the company. KeyCorp raised their price target on Cirrus Logic from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Stifel Nicolaus raised their target price on shares of Cirrus Logic from $150.00 to $163.00 and gave the company a “buy” rating in a research note on Wednesday, February 4th. Weiss Ratings reissued a “hold (c+)” rating on shares of Cirrus Logic in a research note on Monday, December 29th. Loop Capital lowered shares of Cirrus Logic from a “buy” rating to a “hold” rating and set a $130.00 target price for the company. in a research report on Monday, February 2nd. Finally, Benchmark upped their target price on Cirrus Logic from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, February 4th.

Insider Activity

In other news, EVP Andrew Brannan sold 8,913 shares of the stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $119.06, for a total transaction of $1,061,181.78. Following the completion of the sale, the executive vice president owned 5,950 shares of the company’s stock, valued at approximately $708,407. This represents a 59.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John Forsyth sold 21,806 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $135.15, for a total transaction of $2,947,080.90. Following the completion of the transaction, the chief executive officer owned 50,723 shares in the company, valued at $6,855,213.45. This represents a 30.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.16% of the company’s stock.

Institutional Investors Weigh In On Cirrus Logic

Institutional investors have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. increased its position in shares of Cirrus Logic by 1,660.0% in the second quarter. Hantz Financial Services Inc. now owns 264 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 249 shares during the period. Ameritas Advisory Services LLC bought a new stake in shares of Cirrus Logic in the second quarter worth about $31,000. Kohmann Bosshard Financial Services LLC purchased a new position in Cirrus Logic during the 4th quarter valued at about $33,000. Torren Management LLC bought a new position in Cirrus Logic during the 4th quarter valued at approximately $35,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Cirrus Logic in the 2nd quarter worth approximately $39,000. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Cirrus Logic Price Performance

Shares of NASDAQ:CRUS opened at $139.63 on Friday. The firm has a fifty day moving average price of $124.82 and a two-hundred day moving average price of $120.67. The company has a market cap of $7.12 billion, a price-to-earnings ratio of 18.40 and a beta of 1.12. Cirrus Logic has a one year low of $75.83 and a one year high of $144.76.

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

About Cirrus Logic

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.