Brokerages Set Cirrus Logic, Inc. (NASDAQ:CRUS) Price Target at $132.86

Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) have received a consensus rating of “Moderate Buy” from the seven research firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $128.86.

Several equities analysts recently weighed in on the company. Barclays increased their target price on Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. Stifel Nicolaus decreased their target price on shares of Cirrus Logic from $140.00 to $112.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Benchmark restated a “buy” rating and issued a $125.00 target price on shares of Cirrus Logic in a report on Wednesday, March 19th.

Cirrus Logic Trading Up 0.1 %

NASDAQ:CRUS opened at $85.58 on Friday. 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 12-month low of $75.83 and a 12-month high of $147.46. The company’s 50-day moving average is $98.66 and its two-hundred day moving average is $104.08.

Cirrus Logic (NASDAQ:CRUS) last released its earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 EPS 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%. On average, equities research analysts forecast that Cirrus Logic will post 5.63 earnings per share for the current fiscal year.

Insider Activity at Cirrus Logic

In related news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the stock in a transaction 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 completion of the sale, the executive vice president now directly owns 8,330 shares in the company, valued at approximately $833,000. This represents a 19.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.02% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CRUS. Cardinal Capital Management raised its holdings in shares of Cirrus Logic by 4.4% during the 1st quarter. Cardinal Capital Management now owns 23,393 shares of the semiconductor company’s stock valued at $2,331,000 after buying an additional 995 shares during the period. QRG Capital Management Inc. boosted its stake in shares of Cirrus Logic by 14.4% in the first quarter. QRG Capital Management Inc. now owns 3,871 shares of the semiconductor company’s stock valued at $386,000 after purchasing an additional 486 shares during the period. Janney Montgomery Scott LLC grew its holdings in Cirrus Logic by 130.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 6,898 shares of the semiconductor company’s stock valued at $687,000 after purchasing an additional 3,906 shares in the last quarter. Optas LLC purchased a new stake in Cirrus Logic during the 1st quarter worth $208,000. Finally, Ritholtz Wealth Management lifted its holdings in Cirrus Logic by 57.8% in the 1st quarter. Ritholtz Wealth Management now owns 6,194 shares of the semiconductor company’s stock worth $617,000 after buying an additional 2,269 shares in the last quarter. Institutional investors and hedge funds 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 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.