Cirrus Logic (NASDAQ:CRUS) Price Target Cut to $160.00 by Analysts at Susquehanna

Cirrus Logic (NASDAQ:CRUS) had its price target reduced by Susquehanna from $175.00 to $160.00 in a research report released on Monday, Benzinga reports. They currently have a positive rating on the semiconductor company’s stock.

Several other equities analysts have also recently weighed in on the company. Stifel Nicolaus lifted their price target on Cirrus Logic from $110.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. StockNews.com lowered Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. Barclays downgraded Cirrus Logic from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $140.00 to $120.00 in a report on Thursday, October 10th. Finally, KeyCorp boosted their price target on shares of Cirrus Logic from $155.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $137.50.

Cirrus Logic Trading Up 1.3 %

NASDAQ CRUS opened at $120.70 on Monday. The company has a market cap of $6.45 billion, a P/E ratio of 24.48 and a beta of 0.96. The company has a fifty day simple moving average of $129.27 and a 200 day simple moving average of $120.29. Cirrus Logic has a 12-month low of $65.02 and a 12-month high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported $1.12 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.50. The business had revenue of $374.03 million for the quarter, compared to analysts’ expectations of $318.41 million. Cirrus Logic had a net margin of 16.31% and a return on equity of 17.42%. The firm’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.35 earnings per share. Sell-side analysts predict that Cirrus Logic will post 5.26 EPS for the current year.

Insider Activity at Cirrus Logic

In other news, VP Andrew Brannan sold 4,350 shares of Cirrus Logic stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $136.04, for a total value of $591,774.00. Following the transaction, the vice president now directly owns 4,004 shares in the company, valued at approximately $544,704.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, VP Andrew Brannan sold 4,350 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $136.04, for a total value of $591,774.00. Following the transaction, the vice president now directly owns 4,004 shares of the company’s stock, valued at $544,704.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Justin E. Dougherty sold 10,203 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $131.71, for a total transaction of $1,343,837.13. Following the completion of the sale, the senior vice president now owns 4,838 shares in the company, valued at $637,212.98. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.02% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cirrus Logic

Hedge funds have recently made changes to their positions in the company. Nisa Investment Advisors LLC raised its position in Cirrus Logic by 98.4% in the third quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 120 shares during the period. Inscription Capital LLC purchased a new position in shares of Cirrus Logic during the third quarter worth about $268,000. Semanteon Capital Management LP purchased a new stake in Cirrus Logic in the third quarter valued at approximately $491,000. State of Alaska Department of Revenue grew its position in Cirrus Logic by 0.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 55,872 shares of the semiconductor company’s stock worth $6,939,000 after purchasing an additional 420 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Cirrus Logic by 43.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,874 shares of the semiconductor company’s stock valued at $730,000 after acquiring an additional 1,770 shares during the last quarter. Institutional investors and hedge funds 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 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.