Cirrus Logic (NASDAQ:CRUS) PT Raised to $100.00 at Susquehanna

Cirrus Logic (NASDAQ:CRUSFree Report) had its price target raised by Susquehanna from $85.00 to $100.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a positive rating on the semiconductor company’s stock.

Other research analysts also recently issued research reports about the stock. Barclays increased their price objective on shares of Cirrus Logic from $90.00 to $95.00 and gave the company an overweight rating in a report on Tuesday, January 16th. Loop Capital raised shares of Cirrus Logic from a hold rating to a buy rating and increased their price objective for the company from $83.00 to $100.00 in a report on Wednesday, November 1st. TheStreet raised shares of Cirrus Logic from a c+ rating to a b- rating in a report on Tuesday, January 23rd. TD Cowen increased their price objective on shares of Cirrus Logic from $90.00 to $100.00 and gave the company an outperform rating in a report on Wednesday. Finally, KeyCorp decreased their target price on shares of Cirrus Logic from $110.00 to $100.00 and set an overweight rating on the stock in a research report on Friday, November 3rd. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Cirrus Logic presently has an average rating of Buy and an average price target of $96.43.

Read Our Latest Research Report on Cirrus Logic

Cirrus Logic Stock Performance

Shares of Cirrus Logic stock opened at $93.06 on Wednesday. The company has a fifty day moving average of $81.29 and a 200 day moving average of $77.15. Cirrus Logic has a fifty-two week low of $65.02 and a fifty-two week high of $111.15. The company has a market capitalization of $5.02 billion, a P/E ratio of 29.54, a P/E/G ratio of 19.43 and a beta of 0.98.

Insider Buying and Selling

In related news, VP Andrew Brannan sold 3,250 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $94.00, for a total value of $305,500.00. Following the sale, the vice president now directly owns 6,055 shares of the company’s stock, valued at approximately $569,170. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Venkatesh Nathamuni sold 1,000 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. Following the sale, the chief financial officer now directly owns 1,587 shares of the company’s stock, valued at approximately $150,765. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Andrew Brannan sold 3,250 shares of the stock in a transaction dated 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 sale, the vice president now directly owns 6,055 shares in the company, valued at $569,170. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cirrus Logic

A number of institutional investors have recently modified their holdings of the stock. FMR LLC increased its position in shares of Cirrus Logic by 4.5% during the third quarter. FMR LLC now owns 7,552,630 shares of the semiconductor company’s stock worth $558,593,000 after acquiring an additional 327,269 shares during the period. Vanguard Group Inc. boosted its stake in shares of Cirrus Logic by 1.7% during the third quarter. Vanguard Group Inc. now owns 6,299,658 shares of the semiconductor company’s stock valued at $465,923,000 after purchasing an additional 105,577 shares in the last quarter. Mackenzie Financial Corp boosted its stake in shares of Cirrus Logic by 5.9% during the fourth quarter. Mackenzie Financial Corp now owns 2,891,480 shares of the semiconductor company’s stock valued at $215,357,000 after purchasing an additional 160,832 shares in the last quarter. State Street Corp boosted its stake in shares of Cirrus Logic by 7.0% during the second quarter. State Street Corp now owns 2,103,952 shares of the semiconductor company’s stock valued at $170,441,000 after purchasing an additional 137,227 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Cirrus Logic by 183.8% during the first quarter. Wellington Management Group LLP now owns 1,972,087 shares of the semiconductor company’s stock valued at $167,214,000 after purchasing an additional 1,277,213 shares in the last quarter. 90.18% of the stock is owned by hedge funds and other institutional investors.

Cirrus Logic Company Profile

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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.

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Analyst Recommendations for Cirrus Logic (NASDAQ:CRUS)

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