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

Cirrus Logic (NASDAQ:CRUS) had its target price lowered by Stifel Nicolaus from $165.00 to $140.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the semiconductor company’s stock.

Several other equities research analysts have also recently commented on the company. KeyCorp raised their target price on Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Susquehanna decreased their target price on Cirrus Logic from $160.00 to $135.00 and set a “positive” rating for the company in a research note on Tuesday. StockNews.com cut Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. Finally, Barclays reduced their price objective on Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating for the company in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Cirrus Logic has an average rating of “Moderate Buy” and a consensus price target of $132.00.

Cirrus Logic Trading Up 0.2 %

Cirrus Logic stock opened at $103.71 on Tuesday. The company has a market capitalization of $5.54 billion, a PE ratio of 17.58 and a beta of 0.96. Cirrus Logic has a 12 month low of $69.23 and a 12 month high of $147.46. The stock has a 50-day moving average price of $122.47 and a two-hundred day moving average price of $122.12.

Cirrus Logic (NASDAQ:CRUS) 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. Cirrus Logic had a return on equity of 18.42% and a net margin of 17.19%. The company had revenue of $541.90 million during the quarter, compared to the consensus estimate of $520.53 million. During the same period last year, the company earned $1.43 earnings per share. The firm’s revenue was up 12.6% compared to the same quarter last year. As a group, analysts predict that Cirrus Logic will post 5.37 earnings per share for the current fiscal year.

Insider Buying and Selling at Cirrus Logic

In other Cirrus Logic news, VP Andrew Brannan sold 4,350 shares of the business’s 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 transaction, the vice president now directly 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 Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.02% of the company’s stock.

Institutional Investors Weigh In On Cirrus Logic

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRUS. Stonegate Investment Group LLC boosted its position in Cirrus Logic by 5.3% during the third 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 boosted its position in Cirrus Logic by 2.9% during the third quarter. Atria Investments Inc now owns 3,596 shares of the semiconductor company’s stock worth $447,000 after purchasing an additional 101 shares during the period. Profund Advisors LLC boosted its position in Cirrus Logic by 2.0% during the second quarter. Profund Advisors LLC now owns 5,271 shares of the semiconductor company’s stock worth $673,000 after purchasing an additional 103 shares during the period. Arkadios Wealth Advisors boosted its position in Cirrus Logic by 2.8% during the second quarter. Arkadios Wealth Advisors now owns 4,413 shares of the semiconductor company’s stock worth $563,000 after purchasing an additional 119 shares during the period. Finally, Nisa Investment Advisors LLC boosted its position in Cirrus Logic by 98.4% during the third quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 120 shares during the period. 87.96% of the stock is currently 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 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.