Susquehanna Boosts Cirrus Logic (NASDAQ:CRUS) Price Target to $120.00

Cirrus Logic (NASDAQ:CRUS) had its target price increased by stock analysts at Susquehanna from $100.00 to $120.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “positive” rating on the semiconductor company’s stock. Susquehanna’s price target would suggest a potential upside of 16.11% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. TheStreet upgraded Cirrus Logic from a “c+” rating to a “b-” rating in a research note on Tuesday, January 23rd. Barclays boosted their price target on shares of Cirrus Logic from $90.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, January 16th. Stifel Nicolaus increased their price objective on shares of Cirrus Logic from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. StockNews.com downgraded Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 20th. Finally, TD Cowen lifted their price target on Cirrus Logic from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $101.43.

Cirrus Logic Price Performance

NASDAQ:CRUS opened at $103.35 on Wednesday. Cirrus Logic has a one year low of $65.02 and a one year high of $103.35. The company has a market cap of $5.57 billion, a PE ratio of 28.93 and a beta of 0.99. The firm has a 50-day moving average of $89.63 and a 200-day moving average of $83.17.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $2.53 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.83. The firm had revenue of $618.98 million during the quarter, compared to analyst estimates of $539.55 million. Cirrus Logic had a return on equity of 16.13% and a net margin of 9.84%. On average, equities research analysts expect that Cirrus Logic will post 4.79 earnings per share for the current fiscal year.

Insider Activity at Cirrus Logic

In other Cirrus Logic news, VP Andrew Brannan sold 3,250 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $94.00, for a total transaction of $305,500.00. Following the sale, the vice president now owns 6,055 shares in the company, valued at $569,170. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, SVP Justin E. Dougherty sold 3,280 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $91.40, for a total transaction of $299,792.00. Following the sale, the senior vice president now directly owns 6,000 shares in the company, valued at $548,400. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Andrew Brannan sold 3,250 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $94.00, for a total transaction of $305,500.00. Following the completion of the sale, the vice president now directly owns 6,055 shares in the company, valued at $569,170. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,530 shares of company stock worth $700,292. Corporate insiders own 0.89% of the company’s stock.

Institutional Trading of Cirrus Logic

Several institutional investors and hedge funds have recently bought and sold shares of CRUS. Venturi Wealth Management LLC increased its holdings in shares of Cirrus Logic by 93.7% in the fourth quarter. Venturi Wealth Management LLC now owns 368 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 178 shares during the period. Atlas Capital Advisors LLC grew its position in Cirrus Logic by 103.0% during the first quarter. Atlas Capital Advisors LLC now owns 402 shares of the semiconductor company’s stock worth $37,000 after buying an additional 204 shares in the last quarter. Quadrant Capital Group LLC increased its stake in Cirrus Logic by 72.3% in the 4th quarter. Quadrant Capital Group LLC now owns 510 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 214 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Cirrus Logic by 71.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 722 shares of the semiconductor company’s stock valued at $53,000 after acquiring an additional 300 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of Cirrus Logic during the 3rd quarter valued at about $62,000. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

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 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 digital signal processing; boosted amplifiers; 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.