Cirrus Logic, Inc. (NASDAQ:CRUS) Receives Average Recommendation of “Moderate Buy” from Analysts

Posted by on Jun 8th, 2023

Shares of Cirrus Logic, Inc. (NASDAQ:CRUS – Get Rating) have earned an average rating of “Moderate Buy” from the fourteen brokerages that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $100.00.

Several equities analysts recently issued reports on CRUS shares. Loop Capital cut shares of Cirrus Logic from a “buy” rating to a “hold” rating and reduced their price target for the company from $92.00 to $80.00 in a research report on Monday, May 22nd. KeyCorp decreased their target price on Cirrus Logic from $120.00 to $110.00 and set an “overweight” rating for the company in a research report on Monday, April 24th. StockNews.com began coverage on Cirrus Logic in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Barclays decreased their price objective on Cirrus Logic from $105.00 to $90.00 in a report on Friday, May 5th. Finally, Stifel Nicolaus dropped their target price on shares of Cirrus Logic from $108.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, April 19th.

Insider Buying and Selling

In other news, SVP Scott Thomas sold 10,261 shares of the stock in a transaction that occurred on Thursday, March 30th. The shares were sold at an average price of $109.65, for a total transaction of $1,125,118.65. Following the sale, the senior vice president now owns 20,554 shares in the company, valued at $2,253,746.10. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.89% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cirrus Logic

Large investors have recently bought and sold shares of the business. FMR LLC grew its stake in shares of Cirrus Logic by 0.4% in the first quarter. FMR LLC now owns 8,288,574 shares of the semiconductor company’s stock worth $906,604,000 after acquiring an additional 29,484 shares during the period. Vanguard Group Inc. grew its position in Cirrus Logic by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 6,086,237 shares of the semiconductor company’s stock worth $418,733,000 after purchasing an additional 66,283 shares during the period. Mackenzie Financial Corp raised its stake in Cirrus Logic by 5.9% during the 4th quarter. Mackenzie Financial Corp now owns 2,891,480 shares of the semiconductor company’s stock valued at $215,357,000 after buying an additional 160,832 shares during the last quarter. State Street Corp lifted its holdings in shares of Cirrus Logic by 2.9% during the 3rd quarter. State Street Corp now owns 2,003,508 shares of the semiconductor company’s stock valued at $137,841,000 after buying an additional 57,270 shares during the period. Finally, Wellington Management Group LLP boosted its stake in shares of Cirrus Logic by 183.8% in the 1st quarter. Wellington Management Group LLP now owns 1,972,087 shares of the semiconductor company’s stock worth $167,214,000 after buying an additional 1,277,213 shares during the last quarter. 91.78% of the stock is currently owned by institutional investors.

Cirrus Logic Trading Up 0.0 %

Shares of NASDAQ:CRUS opened at $77.32 on Thursday. The company has a market cap of $4.24 billion, a price-to-earnings ratio of 25.19, a price-to-earnings-growth ratio of 12.32 and a beta of 0.97. Cirrus Logic has a 12 month low of $61.94 and a 12 month high of $111.15. The company has a 50-day moving average price of $85.81 and a 200-day moving average price of $88.33.

Cirrus Logic Company Profile

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Cirrus Logic, Inc engages in the development of high-precision, analog and mixed-signal integrated circuits for a range of customers. It builds an analog and signal-processing patent portfolio. The firm delivers optimized products for a variety of audio, industrial and energy-related applications. Its product lines include portable audio products and non-portable audio and other products.

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Analyst Recommendations for Cirrus Logic (NASDAQ:CRUS)

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