Susquehanna Cuts Cirrus Logic (NASDAQ:CRUS) Price Target to $160.00

Cirrus Logic (NASDAQ:CRUS) had its target price cut by research analysts at Susquehanna from $175.00 to $160.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a “positive” rating on the semiconductor company’s stock. Susquehanna’s target price suggests a potential upside of 28.17% from the company’s previous close.

CRUS has been the topic of a number of other reports. StockNews.com cut shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. Stifel Nicolaus raised their target price on shares of Cirrus Logic from $110.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. KeyCorp upped their price target on Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Finally, Barclays cut Cirrus Logic from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $140.00 to $120.00 in a research report on Thursday, October 10th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $137.50.

Cirrus Logic Stock Up 1.6 %

Cirrus Logic stock opened at $124.83 on Monday. The firm has a market cap of $6.67 billion, a P/E ratio of 25.32 and a beta of 0.96. The business has a fifty day moving average of $130.45 and a two-hundred day moving average of $119.63. Cirrus Logic has a twelve month low of $65.02 and a twelve month high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Tuesday, August 6th. The semiconductor company reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.50. Cirrus Logic had a return on equity of 17.42% and a net margin of 16.31%. The firm had revenue of $374.03 million during the quarter, compared to analysts’ expectations of $318.41 million. During the same period in the prior year, the business posted $0.35 EPS. The firm’s quarterly revenue was up 18.0% on a year-over-year basis. Equities analysts expect that Cirrus Logic will post 5.26 earnings per share for the current year.

Insider Buying and Selling at Cirrus Logic

In other 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 directly owns 4,838 shares in the company, valued at $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 available through the SEC website. In other news, VP Andrew Brannan sold 4,350 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $136.04, for a total value of $591,774.00. Following the sale, the vice president now owns 4,004 shares in the company, valued at $544,704.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction, the senior vice president now directly owns 4,838 shares of the company’s stock, valued at approximately $637,212.98. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.02% of the company’s stock.

Institutional Investors Weigh In On Cirrus Logic

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of 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 last quarter. State Board of Administration of Florida Retirement System lifted its stake in shares of Cirrus Logic by 13.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 48,030 shares of the semiconductor company’s stock valued at $4,446,000 after purchasing an additional 5,645 shares during the period. Susquehanna Fundamental Investments LLC boosted its holdings in Cirrus Logic by 741.0% during the second quarter. Susquehanna Fundamental Investments LLC now owns 27,754 shares of the semiconductor company’s stock worth $3,543,000 after buying an additional 24,454 shares in the last quarter. Sei Investments Co. grew its position in Cirrus Logic by 6.6% during the first quarter. Sei Investments Co. now owns 696,895 shares of the semiconductor company’s stock valued at $64,505,000 after buying an additional 42,897 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Cirrus Logic by 52.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 961 shares of the semiconductor company’s stock valued at $123,000 after buying an additional 329 shares in the last quarter. 87.96% of the stock is owned by institutional investors and hedge funds.

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.