Cirrus Logic (NASDAQ:CRUS) Price Target Lowered to $112.00 at Stifel Nicolaus

Cirrus Logic (NASDAQ:CRUS) had its price objective reduced by Stifel Nicolaus from $140.00 to $112.00 in a research report released on Thursday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the semiconductor company’s stock.

A number of other research analysts also recently weighed in on the stock. Barclays upped 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 report on Wednesday, February 5th. Benchmark restated a “buy” rating and issued a $125.00 price target on shares of Cirrus Logic in a research note on Wednesday, March 19th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $128.86.

Cirrus Logic Stock Up 0.1 %

Cirrus Logic stock opened at $85.58 on Thursday. The business’s 50-day moving average price is $99.02 and its 200 day moving average price is $104.43. The firm has a market cap of $4.55 billion, a price-to-earnings ratio of 15.53 and a beta of 0.95. Cirrus Logic has a 52 week low of $75.83 and a 52 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 EPS for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.21). Cirrus Logic had a return on equity of 16.60% and a net margin of 16.55%. Equities analysts expect that Cirrus Logic will post 5.63 EPS for the current year.

Insider Transactions at Cirrus Logic

In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $100.00, for a total value of $205,100.00. Following the transaction, the executive vice president now owns 8,330 shares in the company, valued at $833,000. This trade represents a 19.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.02% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Arizona State Retirement System boosted its stake in Cirrus Logic by 0.7% during the 4th quarter. Arizona State Retirement System now owns 15,492 shares of the semiconductor company’s stock worth $1,543,000 after purchasing an additional 101 shares during the last quarter. Truvestments Capital LLC boosted its position in Cirrus Logic by 3.5% during the fourth quarter. Truvestments Capital LLC now owns 3,981 shares of the semiconductor company’s stock worth $396,000 after acquiring an additional 133 shares during the last quarter. Ritholtz Wealth Management boosted its position in Cirrus Logic by 4.1% during the fourth quarter. Ritholtz Wealth Management now owns 3,925 shares of the semiconductor company’s stock worth $391,000 after acquiring an additional 153 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Cirrus Logic by 17.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,057 shares of the semiconductor company’s stock valued at $105,000 after acquiring an additional 155 shares in the last quarter. Finally, Covestor Ltd raised its holdings in Cirrus Logic by 21.5% in the 4th quarter. Covestor Ltd now owns 1,057 shares of the semiconductor company’s stock valued at $106,000 after acquiring an additional 187 shares during the last quarter. 87.96% of the stock is owned by institutional investors and hedge funds.

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 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.