Stifel Nicolaus Boosts Cirrus Logic (NASDAQ:CRUS) Price Target to $110.00

Cirrus Logic (NASDAQ:CRUS) had its price objective hoisted by research analysts at Stifel Nicolaus from $100.00 to $110.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ price objective points to a potential upside of 8.75% from the stock’s current price.

Several other research firms have also recently weighed in on CRUS. StockNews.com cut Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 20th. Barclays increased their price target on Cirrus Logic from $90.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. TheStreet raised Cirrus Logic from a “c+” rating to a “b-” rating in a report on Tuesday, January 23rd. Susquehanna raised their target price on Cirrus Logic from $100.00 to $120.00 and gave the stock a “positive” rating in a report on Wednesday. Finally, TD Cowen raised their target price on Cirrus Logic from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, Cirrus Logic currently has a consensus rating of “Buy” and an average target price of $102.86.

Cirrus Logic Trading Up 11.0 %

CRUS stock traded up $10.02 during midday trading on Wednesday, hitting $101.15. The company’s stock had a trading volume of 267,148 shares, compared to its average volume of 411,119. The firm’s 50-day moving average is $89.63 and its 200-day moving average is $83.17. The company has a market cap of $5.45 billion, a PE ratio of 32.11 and a beta of 0.99. Cirrus Logic has a 12 month low of $65.02 and a 12 month high of $103.30.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $2.53 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.83. The firm had revenue of $618.98 million for the quarter, compared to analysts’ expectations of $539.55 million. Cirrus Logic had a return on equity of 16.13% and a net margin of 9.84%. Analysts expect that Cirrus Logic will post 4.79 earnings per share for the current year.

Insiders Place Their Bets

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 value of $305,500.00. Following the completion of the sale, the vice president now owns 6,055 shares in the company, valued at approximately $569,170. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 value of $305,500.00. Following the completion of the sale, the vice president now owns 6,055 shares in the company, valued at approximately $569,170. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Justin E. Dougherty sold 3,280 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $91.40, for a total value of $299,792.00. Following the completion of the sale, the senior vice president now owns 6,000 shares of the company’s stock, valued at approximately $548,400. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,530 shares of company stock worth $700,292. Corporate insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Mackenzie Financial Corp grew its position in shares of Cirrus Logic by 1.5% during the fourth quarter. Mackenzie Financial Corp now owns 2,485,746 shares of the semiconductor company’s stock valued at $206,789,000 after purchasing an additional 35,722 shares in the last quarter. Linden Thomas Advisory Services LLC grew its position 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 purchasing an additional 363 shares in the last quarter. UBS Group AG grew its position in shares of Cirrus Logic by 86.9% during the third quarter. UBS Group AG now owns 61,811 shares of the semiconductor company’s stock valued at $4,572,000 after purchasing an additional 28,735 shares in the last quarter. FMR LLC grew its position in shares of Cirrus Logic by 4.5% during the third quarter. FMR LLC now owns 7,552,630 shares of the semiconductor company’s stock valued at $558,593,000 after purchasing an additional 327,269 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Cirrus Logic by 1.7% during the third quarter. Vanguard Group Inc. now owns 6,299,658 shares of the semiconductor company’s stock valued at $465,923,000 after purchasing an additional 105,577 shares in the last quarter. Hedge funds and other 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.