Barclays Issues Positive Forecast for Cirrus Logic (NASDAQ:CRUS) Stock Price

Cirrus Logic (NASDAQ:CRUS) had its price objective lifted by Barclays from $105.00 to $115.00 in a research report report published on Wednesday,Benzinga reports. Barclays currently has an equal weight rating on the semiconductor company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Loop Capital began coverage on shares of Cirrus Logic in a research report on Tuesday, November 12th. They issued a “buy” rating and a $130.00 price objective for the company. Stifel Nicolaus lowered their price target on shares of Cirrus Logic from $165.00 to $140.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. StockNews.com raised shares of Cirrus Logic from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Finally, Susquehanna raised their price target on shares of Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a report on Monday, November 18th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Cirrus Logic currently has an average rating of “Moderate Buy” and a consensus target price of $132.86.

Cirrus Logic Trading Up 7.8 %

NASDAQ CRUS opened at $109.34 on Wednesday. The firm has a market cap of $5.81 billion, a price-to-earnings ratio of 18.53 and a beta of 0.91. The company has a 50 day moving average of $102.51 and a 200-day moving average of $116.16. Cirrus Logic has a 1-year low of $77.49 and a 1-year high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.21). Cirrus Logic had a net margin of 17.19% and a return on equity of 18.15%. On average, analysts forecast that Cirrus Logic will post 5.21 earnings per share for the current year.

Insider Buying and Selling at Cirrus Logic

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of Cirrus Logic stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $100.00, for a total transaction of $205,100.00. Following the completion of the transaction, the executive vice president now directly owns 8,330 shares of the company’s stock, valued at $833,000. The trade was a 19.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.02% of the company’s stock.

Institutional Investors Weigh In On Cirrus Logic

Institutional investors have recently made changes to their positions in the company. FMR LLC boosted its stake in Cirrus Logic by 6.3% in the 3rd quarter. FMR LLC now owns 3,678,141 shares of the semiconductor company’s stock valued at $456,862,000 after purchasing an additional 217,404 shares during the period. Pacer Advisors Inc. boosted its position in shares of Cirrus Logic by 44.0% in the fourth quarter. Pacer Advisors Inc. now owns 1,267,792 shares of the semiconductor company’s stock valued at $126,247,000 after acquiring an additional 387,346 shares during the period. Geode Capital Management LLC boosted its position in shares of Cirrus Logic by 4.7% in the third quarter. Geode Capital Management LLC now owns 1,138,279 shares of the semiconductor company’s stock valued at $141,414,000 after acquiring an additional 50,582 shares during the period. Allianz Asset Management GmbH boosted its holdings in Cirrus Logic by 137.2% in the 4th quarter. Allianz Asset Management GmbH now owns 1,044,880 shares of the semiconductor company’s stock valued at $104,049,000 after purchasing an additional 604,431 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Cirrus Logic by 21.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 720,771 shares of the semiconductor company’s stock valued at $89,527,000 after purchasing an additional 129,457 shares during the period. Institutional investors own 87.96% of the company’s stock.

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.