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

Cirrus Logic (NASDAQ:CRUS) had its price target dropped by Barclays from $120.00 to $105.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the semiconductor company’s stock. Barclays‘s price target would indicate a potential upside of 0.85% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Stifel Nicolaus upped their price objective on shares of Cirrus Logic from $110.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Susquehanna reduced their target price on shares of Cirrus Logic from $160.00 to $135.00 and set a “positive” rating for the company in a report on Tuesday. KeyCorp raised 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. Finally, StockNews.com lowered shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $132.00.

Cirrus Logic Stock Up 1.3 %

Cirrus Logic stock opened at $104.11 on Tuesday. The business has a 50 day moving average price of $124.13 and a two-hundred day moving average price of $122.11. The stock has a market cap of $5.56 billion, a price-to-earnings ratio of 17.65 and a beta of 0.96. Cirrus Logic has a 12 month low of $69.23 and a 12 month high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results on Monday, November 4th. The semiconductor company reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.23. Cirrus Logic had a net margin of 16.31% and a return on equity of 17.42%. The firm had revenue of $541.90 million for the quarter, compared to analyst estimates of $520.53 million. During the same period in the previous year, the business earned $1.43 earnings per share. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. On average, analysts expect that Cirrus Logic will post 5.37 earnings per share for the current fiscal year.

Insider Activity at Cirrus Logic

In other news, SVP Justin E. Dougherty sold 10,203 shares of the firm’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 completion of the sale, the senior vice president now directly owns 4,838 shares of the company’s stock, valued at $637,212.98. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Cirrus Logic news, SVP Justin E. Dougherty sold 10,203 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $131.71, for a total value of $1,343,837.13. Following the completion of the transaction, the senior vice president now owns 4,838 shares in the company, valued at $637,212.98. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $591,774.00. Following the completion of the transaction, the vice president now directly owns 4,004 shares in the company, valued at approximately $544,704.16. 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 insiders.

Institutional Investors Weigh In On Cirrus Logic

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Cirrus Logic by 2.1% in the first quarter. Vanguard Group Inc. now owns 6,363,188 shares of the semiconductor company’s stock worth $588,977,000 after buying an additional 128,393 shares during the period. LSV Asset Management raised its holdings in Cirrus Logic by 34.6% in the second quarter. LSV Asset Management now owns 1,890,493 shares of the semiconductor company’s stock worth $241,340,000 after buying an additional 486,086 shares during the last quarter. Earnest Partners LLC lifted its position in Cirrus Logic by 3.0% in the 2nd quarter. Earnest Partners LLC now owns 1,358,140 shares of the semiconductor company’s stock valued at $173,380,000 after acquiring an additional 39,759 shares in the last quarter. Sei Investments Co. boosted its position in shares of Cirrus Logic by 8.6% during the second quarter. Sei Investments Co. now owns 756,585 shares of the semiconductor company’s stock valued at $96,587,000 after buying an additional 59,690 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in shares of Cirrus Logic by 8,183.4% during the 2nd quarter. Pacer Advisors Inc. now owns 665,320 shares of the semiconductor company’s stock valued at $84,935,000 after acquiring an additional 657,288 shares during the last quarter. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

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.