Stifel Nicolaus Has Lowered Expectations for Cirrus Logic (NASDAQ:CRUS) Stock Price

by · The Markets Daily

Cirrus Logic (NASDAQ:CRUS – Get Free Report) had its target price lowered by analysts at Stifel Nicolaus from $165.00 to $140.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ target price indicates a potential upside of 34.47% from the company’s previous close.

CRUS has been the topic of several other reports. Susquehanna decreased their price target on shares of Cirrus Logic from $160.00 to $135.00 and set a “positive” rating on the stock in a research note on Tuesday. KeyCorp boosted their price target on Cirrus Logic from $155.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Barclays dropped their price objective on Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating for the company in a report on Tuesday. Finally, StockNews.com lowered Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Cirrus Logic presently has an average rating of “Moderate Buy” and a consensus target price of $132.00.

Check Out Our Latest Research Report on CRUS

Cirrus Logic Stock Performance

NASDAQ CRUS opened at $104.11 on Tuesday. Cirrus Logic has a 52-week low of $69.23 and a 52-week high of $147.46. The stock has a market cap of $5.56 billion, a PE ratio of 19.24 and a beta of 0.96. The firm has a 50-day moving average of $124.13 and a 200-day moving average of $122.11.

Cirrus Logic (NASDAQ:CRUS – Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The semiconductor company reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.23. The company had revenue of $541.90 million during the quarter, compared to analysts’ expectations of $520.53 million. Cirrus Logic had a return on equity of 17.42% and a net margin of 16.31%. The business’s revenue was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.43 earnings per share. As a group, analysts predict that Cirrus Logic will post 5.37 EPS for the current fiscal year.

Insider Transactions at Cirrus Logic

In other Cirrus Logic news, VP Andrew Brannan sold 4,350 shares of Cirrus Logic stock in a transaction dated 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 owns 4,004 shares in the company, valued at $544,704.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, SVP Justin E. Dougherty sold 10,203 shares of the business’s 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 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Andrew Brannan sold 4,350 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $136.04, for a total value of $591,774.00. Following the completion of the transaction, the vice president now owns 4,004 shares of the company’s stock, valued at $544,704.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.02% of the stock is owned by insiders.

Institutional Investors Weigh In On Cirrus Logic

A number of institutional investors have recently added to or reduced their stakes in CRUS. Stonegate Investment Group LLC lifted its position in shares of Cirrus Logic by 5.3% in the 3rd quarter. Stonegate Investment Group LLC now owns 1,776 shares of the semiconductor company’s stock worth $221,000 after purchasing an additional 90 shares during the period. Atria Investments Inc grew its holdings in shares of Cirrus Logic by 2.9% during the third quarter. Atria Investments Inc now owns 3,596 shares of the semiconductor company’s stock valued at $447,000 after buying an additional 101 shares during the last quarter. Profund Advisors LLC boosted its stake in Cirrus Logic by 2.0% during the 2nd quarter. Profund Advisors LLC now owns 5,271 shares of the semiconductor company’s stock valued at $673,000 after purchasing an additional 103 shares during the last quarter. Arkadios Wealth Advisors boosted its position in shares of Cirrus Logic by 2.8% during the second quarter. Arkadios Wealth Advisors now owns 4,413 shares of the semiconductor company’s stock valued at $563,000 after buying an additional 119 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in shares of Cirrus Logic by 98.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 120 shares in the last quarter. 87.96% of the stock is owned by institutional investors.

About Cirrus Logic

(Get Free Report)

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.

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