The price of Cirrus Logic Inc. (NASDAQ:CRUS) shares last traded on Wall Street fell -0.24% to $102.75.
Based on available information, 12 analysts follow Cirrus Logic Inc. (NASDAQ:CRUS). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $120.00 and a low of $78.30, we find $110.00. Given the previous closing price of $103.00, this indicates a potential upside of 6.8 percent. CRUS stock price is now 7.08% away from the 50-day moving average and 27.63% away from the 200-day moving average. The market capitalization of the company currently stands at $5.69B.
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Among analysts, 3 rate the stock a hold while 7 rate it a buy. Brokers who have rated the stock have averaged $105.63 as their price target over the next twelve months.
With the price target enhanced from $100 to $120, Barclays maintained Overweight rating for Cirrus Logic Inc. (NASDAQ: CRUS). On September 17, 2021, BofA Securities Downgraded its previous ‘Neutral’ rating to ‘Underperform’ on the stock keeping its target price maintained at $92, while ‘Barclays’ rates the stock as ‘Overweight’.
In other news, ANDERSON SCOTT ARNOLD, Sr VP, Supply Chain sold 29,229 shares of the company’s stock on Feb 09. The stock was sold for $3,079,481 at an average price of $105.36. Upon completion of the transaction, the Sr VP, Supply Chain now directly owns 8,979 shares in the company, valued at $0.92 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 08, VP, MSP Alberty Carl Jackson sold 1,998 shares of the business’s stock. A total of $210,689 was realized by selling the stock at an average price of $105.45. This leaves the insider owning 36,436 shares of the company worth $3.74 million. Insiders disposed of 85,950 shares of company stock worth roughly $8.83 million over the past 1 year. A total of 0.40% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CRUS stock. A new stake in Cirrus Logic Inc. shares was purchased by ING GROEP NV during the first quarter worth $5,960,000. MORAN WEALTH MANAGEMENT, LLC invested $5,153,000 in shares of CRUS during the first quarter. In the first quarter, CONNOR, CLARK & LUNN INVESTMENT MANAGEMENT LTD. acquired a new stake in Cirrus Logic Inc. valued at approximately $4,220,000. AMALGAMATED FINANCIAL CORP. acquired a new stake in CRUS for approximately $4,065,000. CANADA PENSION PLAN INVESTMENT BOARD purchased a new stake in CRUS valued at around $3,052,000 in the second quarter. In total, there are 475 active investors with 95.40% ownership of the company’s stock.
A candlestick chart of Cirrus Logic Inc. (NASDAQ: CRUS) showed a price of $103.67 on Friday morning. During the past 12 months, Cirrus Logic Inc. has had a low of $61.94 and a high of $108.42. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 4.40, and a quick ratio of 3.80. The fifty day moving average price for CRUS is $96.51 and a two-hundred day moving average price translates $80.61 for the stock.
The latest earnings results from Cirrus Logic Inc. (NASDAQ: CRUS) was released for Dec, 2022. According to the Semiconductors Company, earnings per share came in at $2.4, beating analysts’ expectations of $1.99 by 0.41. This compares to $2.16 EPS in the same period last year. The net profit margin was 16.20% and return on equity was 19.90% for CRUS. The company reported revenue of $590.58 million for the quarter, compared to $548.35 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 7.7 percent. For the current quarter, analysts expect CRUS to generate $367.6M in revenue.
Cirrus Logic Inc.(CRUS) Company Profile
Cirrus Logic, Inc., a fabless semiconductor company, provides low-power and high-precision mixed-signal processing solutions in the United States and internationally. It offers portable 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 processer; boosted amplifiers; 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, hearing augmentation, and active noise cancellation. The company’s audio products are used in smartphones, tablets, wireless headsets, laptops, AR/VR headsets, home theater systems, automotive entertainment systems, and professional audio systems. It also provides high-performance mixed-signal products, such as haptic driver and sensing solutions, camera controllers, power conversion, and control ICs and fast-charging ICs used in various industrial and energy applications comprising digital utility meters, power supplies, energy control, energy measurement, and energy exploration. The company markets and sells its products through direct sales force, external sales representatives, and distributors. Cirrus Logic, Inc. was incorporated in 1984 and is headquartered in Austin, Texas.
