Shares of Cirrus Logic, Inc. (NASDAQ:CRUS – Get Free Report) have been given a consensus rating of “Moderate Buy” by the nine research firms that are currently covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $161.7143.
A number of analysts have recently issued reports on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Cirrus Logic in a research note on Wednesday, June 24th. KeyCorp increased their price target on shares of Cirrus Logic from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Zacks Research cut shares of Cirrus Logic from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Jefferies Financial Group upgraded shares of Cirrus Logic to a “buy” rating in a research note on Thursday, June 4th. Finally, Stifel Nicolaus set a $197.00 price objective on Cirrus Logic in a research report on Thursday, May 7th.
Check Out Our Latest Stock Analysis on CRUS
Cirrus Logic Price Performance
Cirrus Logic (NASDAQ:CRUS – Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The semiconductor company reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.19. Cirrus Logic had a return on equity of 20.48% and a net margin of 20.75%.The business had revenue of $448.52 million during the quarter, compared to analysts’ expectations of $442.25 million. During the same quarter last year, the company posted $1.67 earnings per share. Cirrus Logic’s quarterly revenue was up 5.7% on a year-over-year basis. Analysts predict that Cirrus Logic will post 8.05 EPS for the current fiscal year.
Insiders Place Their Bets
In other Cirrus Logic news, EVP Justin E. Dougherty sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $166.50, for a total transaction of $333,000.00. Following the completion of the transaction, the executive vice president owned 4,537 shares in the company, valued at approximately $755,410.50. This trade represents a 30.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Jeffrey W. Baumgartner sold 1,458 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $145.97, for a total transaction of $212,824.26. Following the completion of the transaction, the executive vice president owned 16,405 shares in the company, valued at approximately $2,394,637.85. The trade was a 8.16% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 32,241 shares of company stock valued at $5,173,460 over the last ninety days. 1.20% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Cirrus Logic
A number of institutional investors and hedge funds have recently made changes to their positions in CRUS. Parallel Advisors LLC raised its stake in Cirrus Logic by 6.2% in the fourth quarter. Parallel Advisors LLC now owns 1,368 shares of the semiconductor company’s stock worth $162,000 after buying an additional 80 shares in the last quarter. CIBC Private Wealth Group LLC boosted its position in Cirrus Logic by 29.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 389 shares of the semiconductor company’s stock valued at $46,000 after acquiring an additional 88 shares in the last quarter. Kendall Capital Management grew its holdings in shares of Cirrus Logic by 0.9% during the 4th quarter. Kendall Capital Management now owns 10,600 shares of the semiconductor company’s stock worth $1,256,000 after acquiring an additional 90 shares during the period. EP Wealth Advisors LLC grew its holdings in shares of Cirrus Logic by 1.7% during the 2nd quarter. EP Wealth Advisors LLC now owns 5,739 shares of the semiconductor company’s stock worth $598,000 after acquiring an additional 95 shares during the period. Finally, Diversified Trust Co grew its holdings in shares of Cirrus Logic by 1.1% during the 1st quarter. Diversified Trust Co now owns 9,097 shares of the semiconductor company’s stock worth $1,316,000 after acquiring an additional 102 shares during the period. Institutional investors own 87.96% of the company’s stock.
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.
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