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

Cirrus Logic (NASDAQ:CRUS) had its price target dropped by investment analysts at Barclays from $120.00 to $105.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the semiconductor company’s stock. Barclays‘s price target points to a potential downside of 0.11% from the stock’s current price.

A number of other research firms have also recently weighed in on CRUS. KeyCorp upped their price objective on shares of Cirrus Logic from $155.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. 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 decreased their price objective on shares of Cirrus Logic from $160.00 to $135.00 and set a “positive” rating for the company in a research report on Tuesday. Finally, StockNews.com cut shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 9th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $137.00.

Cirrus Logic Price Performance

NASDAQ CRUS traded down $5.51 during trading hours on Tuesday, hitting $105.12. The company had a trading volume of 271,945 shares, compared to its average volume of 495,795. Cirrus Logic has a fifty-two week low of $69.23 and a fifty-two week high of $147.46. The company has a market capitalization of $5.61 billion, a price-to-earnings ratio of 19.45 and a beta of 0.96. The firm’s 50 day moving average is $125.69 and its 200 day moving average is $122.09.

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

Insider Transactions at Cirrus Logic

In other news, SVP Justin E. Dougherty sold 10,203 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $131.71, for a total transaction of $1,343,837.13. Following the transaction, the senior vice president now owns 4,838 shares of the company’s stock, valued at approximately $637,212.98. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Cirrus Logic news, VP Andrew Brannan sold 4,350 shares of the firm’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 owns 4,004 shares of the company’s stock, valued at $544,704.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction of $1,343,837.13. Following the completion of the transaction, the senior vice president now directly owns 4,838 shares in the company, valued at $637,212.98. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.02% of the company’s stock.

Hedge Funds Weigh In On Cirrus Logic

Hedge funds and other institutional investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC boosted its position in shares of 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 buying an additional 120 shares during the period. V Square Quantitative Management LLC acquired a new position in shares of Cirrus Logic during the third quarter worth approximately $31,000. Versant Capital Management Inc boosted its position in shares of Cirrus Logic by 1,911.1% during the second quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company’s stock worth $46,000 after buying an additional 344 shares during the period. GAMMA Investing LLC boosted its position in shares of Cirrus Logic by 79.5% during the second quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company’s stock worth $61,000 after buying an additional 210 shares during the period. Finally, 1620 Investment Advisors Inc. acquired a new position in shares of Cirrus Logic during the second quarter worth approximately $77,000. 87.96% of the stock is currently owned by institutional investors and hedge funds.

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.