Cirrus Logic (NASDAQ:CRUS) Price Target Raised to $120.00 at KeyCorp

Cirrus Logic (NASDAQ:CRUS) had its price objective boosted by KeyCorp from $100.00 to $120.00 in a report published on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the semiconductor company’s stock.

Several other research analysts have also recently issued reports on CRUS. TheStreet raised Cirrus Logic from a c+ rating to a b- rating in a report on Tuesday, January 23rd. Stifel Nicolaus raised their price objective on shares of Cirrus Logic from $100.00 to $110.00 and gave the stock a buy rating in a research note on Wednesday. TD Cowen boosted their target price on shares of Cirrus Logic from $100.00 to $115.00 and gave the company a buy rating in a research note on Wednesday. StockNews.com cut Cirrus Logic from a strong-buy rating to a buy rating in a research report on Saturday, April 20th. Finally, Susquehanna upped their price target on Cirrus Logic from $100.00 to $120.00 and gave the company a positive rating in a research report on Wednesday. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Cirrus Logic presently has an average rating of Buy and an average price target of $107.86.

Cirrus Logic Trading Up 0.1 %

Cirrus Logic stock traded up $0.15 during midday trading on Wednesday, reaching $102.39. 66,754 shares of the stock traded hands, compared to its average volume of 422,768. Cirrus Logic has a fifty-two week low of $65.02 and a fifty-two week high of $103.80. The firm has a market cap of $5.52 billion, a price-to-earnings ratio of 32.60 and a beta of 0.99. The firm has a fifty day moving average price of $89.88 and a two-hundred day moving average price of $83.31.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $2.53 earnings per share (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 business had revenue of $618.98 million during the quarter, compared to the consensus estimate of $539.55 million. Analysts anticipate that Cirrus Logic will post 4.79 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Justin E. Dougherty sold 3,280 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $91.40, for a total transaction of $299,792.00. Following the transaction, the senior vice president now owns 6,000 shares in the company, valued at approximately $548,400. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Venturi Wealth Management LLC lifted its position in shares of Cirrus Logic by 93.7% during the 4th 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 last quarter. Atlas Capital Advisors LLC boosted its position in shares of Cirrus Logic by 103.0% in the first quarter. Atlas Capital Advisors LLC now owns 402 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 204 shares during the period. Quadrant Capital Group LLC boosted its position in shares of Cirrus Logic by 72.3% in the fourth quarter. Quadrant Capital Group LLC now owns 510 shares of the semiconductor company’s stock valued at $42,000 after acquiring an additional 214 shares during the period. Nisa Investment Advisors LLC increased its position in Cirrus Logic by 71.1% during the third quarter. Nisa Investment Advisors LLC now owns 722 shares of the semiconductor company’s stock worth $53,000 after acquiring an additional 300 shares during the period. Finally, DekaBank Deutsche Girozentrale acquired a new position in Cirrus Logic during the 3rd quarter valued at $62,000. 87.96% of the stock is owned by 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.