Cirrus Logic (NASDAQ:CRUS) Given New $115.00 Price Target at TD Cowen

Cirrus Logic (NASDAQ:CRUS) had its target price hoisted by investment analysts at TD Cowen from $100.00 to $115.00 in a research report issued to clients and investors on Wednesday, Briefing.com reports. The firm presently has a “buy” rating on the semiconductor company’s stock. TD Cowen’s price objective indicates a potential upside of 26.19% from the company’s previous close.

Other research analysts have also issued reports about the stock. TheStreet raised shares of Cirrus Logic from a “c+” rating to a “b-” rating in a research report on Tuesday, January 23rd. Susquehanna boosted their target price on Cirrus Logic from $85.00 to $100.00 and gave the stock a “positive” rating in a research note on Wednesday, February 7th. StockNews.com lowered Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 20th. Barclays lifted their price target on Cirrus Logic from $90.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, January 16th. Finally, Stifel Nicolaus upped their price objective on Cirrus Logic from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $98.57.

Cirrus Logic Trading Up 1.2 %

NASDAQ CRUS opened at $91.13 on Wednesday. The company has a fifty day simple moving average of $89.63 and a 200 day simple moving average of $83.17. Cirrus Logic has a 12-month low of $65.02 and a 12-month high of $95.87. The company has a market cap of $4.91 billion, a P/E ratio of 28.93 and a beta of 0.99.

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

Insider Activity at Cirrus Logic

In other Cirrus Logic news, VP Andrew Brannan sold 3,250 shares of the firm’s 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 directly owns 6,055 shares of the company’s stock, valued at $569,170. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Justin E. Dougherty sold 3,280 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $91.40, for a total value of $299,792.00. Following the sale, the senior vice president now owns 6,000 shares of the company’s stock, valued at $548,400. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Andrew Brannan sold 3,250 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $94.00, for a total transaction of $305,500.00. Following the completion of the transaction, the vice president now directly owns 6,055 shares of the company’s stock, valued at $569,170. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,530 shares of company stock worth $700,292. Insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On Cirrus Logic

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Headlands Technologies LLC bought a new stake in Cirrus Logic during the 1st quarter valued at $302,000. Sei Investments Co. raised its holdings in Cirrus Logic by 6.6% during the 1st quarter. Sei Investments Co. now owns 696,895 shares of the semiconductor company’s stock valued at $64,505,000 after acquiring an additional 42,897 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in Cirrus Logic during the 1st quarter valued at $305,000. LSV Asset Management raised its holdings in Cirrus Logic by 8.3% during the 1st quarter. LSV Asset Management now owns 1,404,407 shares of the semiconductor company’s stock valued at $129,992,000 after acquiring an additional 107,888 shares during the period. Finally, John G Ullman & Associates Inc. bought a new stake in Cirrus Logic during the 1st quarter valued at $366,000. 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.