Cirrus Logic, Inc. (NASDAQ:CRUS) Receives $132.86 Consensus PT from Brokerages

Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) have received a consensus rating of “Moderate Buy” from the seven analysts that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $132.86.

Several analysts recently weighed in on CRUS shares. Barclays boosted their price objective on shares of Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. Benchmark reissued a “buy” rating and issued a $125.00 price objective on shares of Cirrus Logic in a research note on Wednesday. Finally, StockNews.com raised shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd.

Insider Activity

In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $100.00, for a total transaction of $205,100.00. Following the transaction, the executive vice president now owns 8,330 shares in the company, valued at approximately $833,000. This represents a 19.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.02% of the company’s stock.

Hedge Funds Weigh In On Cirrus Logic

Several institutional investors have recently made changes to their positions in CRUS. Castlekeep Investment Advisors LLC acquired a new position in shares of Cirrus Logic during the fourth quarter valued at about $170,796,000. Allianz Asset Management GmbH raised its holdings in shares of Cirrus Logic by 137.2% in the 4th quarter. Allianz Asset Management GmbH now owns 1,044,880 shares of the semiconductor company’s stock worth $104,049,000 after acquiring an additional 604,431 shares during the last quarter. Norges Bank acquired a new stake in shares of Cirrus Logic in the 4th quarter worth about $58,723,000. Pacer Advisors Inc. raised its holdings in shares of Cirrus Logic by 44.0% in the 4th quarter. Pacer Advisors Inc. now owns 1,267,792 shares of the semiconductor company’s stock worth $126,247,000 after acquiring an additional 387,346 shares during the last quarter. Finally, Deutsche Bank AG raised its holdings in shares of Cirrus Logic by 139.4% in the 4th quarter. Deutsche Bank AG now owns 586,733 shares of the semiconductor company’s stock worth $58,427,000 after acquiring an additional 341,615 shares during the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

Cirrus Logic Stock Performance

NASDAQ CRUS opened at $99.79 on Wednesday. The firm’s fifty day moving average price is $103.35 and its two-hundred day moving average price is $109.70. The stock has a market cap of $5.30 billion, a PE ratio of 18.11 and a beta of 0.89. Cirrus Logic has a fifty-two week low of $81.30 and a fifty-two week high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share for the quarter, missing the consensus estimate of $2.36 by ($0.21). Cirrus Logic had a return on equity of 16.60% and a net margin of 16.55%. As a group, sell-side analysts predict that Cirrus Logic will post 5.63 earnings per share for the current fiscal year.

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 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.