Cirrus Logic (NASDAQ:CRUS) PT Raised to $110.00 at Stifel Nicolaus

Cirrus Logic (NASDAQ:CRUS) had its target price raised by investment analysts at Stifel Nicolaus from $100.00 to $110.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 5.99% from the company’s previous close.

A number of other brokerages also recently issued reports on CRUS. TheStreet raised shares of Cirrus Logic from a “c+” rating to a “b-” rating in a research report on Tuesday, January 23rd. TD Cowen lifted their target price on Cirrus Logic from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday. Barclays raised their price objective 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. Susquehanna raised their price target on shares of Cirrus Logic from $100.00 to $120.00 and gave the stock a “positive” rating in a research note on Wednesday. Finally, StockNews.com downgraded Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 20th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $107.86.

Cirrus Logic Stock Performance

Shares of NASDAQ CRUS remained flat at $103.78 during mid-day trading on Wednesday. 38,269 shares of the stock were exchanged, compared to its average volume of 425,650. Cirrus Logic has a 52-week low of $65.02 and a 52-week high of $104.44. The company has a market capitalization of $5.59 billion, a PE ratio of 32.95 and a beta of 0.99. The business has a fifty day moving average of $90.12 and a 200-day moving average of $83.45.

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 the consensus estimate of $1.70 by $0.83. Cirrus Logic had a return on equity of 16.13% and a net margin of 9.84%. The firm had revenue of $618.98 million during the quarter, compared to the consensus estimate of $539.55 million. As a group, sell-side analysts anticipate that Cirrus Logic will post 4.79 EPS for the current year.

Insider Activity at Cirrus Logic

In other news, SVP Justin E. Dougherty sold 3,280 shares of Cirrus Logic 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 completion of the sale, the senior vice president now owns 6,000 shares in the company, valued at approximately $548,400. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.89% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cirrus Logic

Hedge funds have recently added to or reduced their stakes in the company. Mackenzie Financial Corp boosted its stake in Cirrus Logic by 1.5% in the fourth quarter. Mackenzie Financial Corp now owns 2,485,746 shares of the semiconductor company’s stock worth $206,789,000 after buying an additional 35,722 shares in the last quarter. Linden Thomas Advisory Services LLC grew its stake in shares of Cirrus Logic by 2.1% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 17,673 shares of the semiconductor company’s stock valued at $1,470,000 after buying an additional 363 shares during the last quarter. UBS Group AG increased its holdings in shares of Cirrus Logic by 86.9% in the third quarter. UBS Group AG now owns 61,811 shares of the semiconductor company’s stock worth $4,572,000 after buying an additional 28,735 shares during the period. FMR LLC boosted its holdings in Cirrus Logic by 4.5% during the 3rd quarter. FMR LLC now owns 7,552,630 shares of the semiconductor company’s stock valued at $558,593,000 after acquiring an additional 327,269 shares during the period. Finally, Vanguard Group Inc. grew its position in Cirrus Logic by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 6,299,658 shares of the semiconductor company’s stock worth $465,923,000 after acquiring an additional 105,577 shares during the last quarter. Institutional investors own 87.96% of the company’s stock.

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 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.