Cirrus Logic Inc. (CRUS) Achieves a New 12-Month Apex at $117.12
In an impressive stride within the stock market, Cirrus Logic Inc. (NASDAQ:CRUS) reached a new zenith during Tuesday’s mid-day trading session. The shares of the semiconductor giant escalated to a high of $117.12, eventually stabilizing at $117.11, alongside a trading volume of 268,122 shares. This remarkable peak comes after the stock’s previous close at $114.46, showcasing a notable upward momentum.
Analysts Project a Bright Horizon
The bullish sentiment surrounding Cirrus Logic is echoed by several market analysts, who have recently updated their stances and objectives on the stock. Notably, Stifel Nicolaus upgraded their price target from $100.00 to $110.00, complementing it with a “buy” rating, reflecting a confident outlook on the company’s performance. Similarly, TD Cowen adjusted their target, pushing it from $100.00 to $115.00 and reaffirming a “buy” rating. Barclays also expressed optimism, revising their projection up to $110.00 from $95.00, and endorsing the stock with an “overweight” rating. Surpassing expectations, Susquehanna raised their target to the top, setting it at $120.00 and providing a “positive” rating. Despite a more cautious perspective from Benchmark, which shifted to a “hold” rating, the consensus among market watchers leans strongly towards a “Moderate Buy” with an average price goal of $107.86.
A Snapshot of Cirrus Logic’s Financial Health
As per the latest figures, Cirrus Logic boasts a market capitalization of $6.15 billion, with a price-to-earnings (PE) ratio of 23.28 and a beta of 0.99. The stock’s performance is further highlighted by its moving averages, with a 50-day average at $96.57 and a 200-day average sitting at $87.99. These metrics not only underline the company’s current stability but also its growth potential moving forward.
The semiconductor company previously announced its quarterly earnings on May 7, reporting earnings per share (EPS) of $0.84, which surpassed the consensus estimate of $0.36 by a wide margin. This report was paired with a revenue figure of $371.83 million for the quarter, exceeding expectations of $320.14 million. Such strong financial results underpin Cirrus Logic’s solid market position and its capability to generate shareholder value, with a reported return on equity of 16.49% and a net margin of 15.35%. Analysts are optimistic about the company’s future, forecasting an EPS of 4.73 for the current fiscal year.
Insider Movements within Cirrus Logic
In recent developments concerning stock transactions by company insiders, noteworthy actions were observed. Alexander M. Davern, a director at Cirrus Logic, offloaded 1,000 shares at an average price of $115.85, amounting to a total value of $115,850.00. Post-sale, Davern retains 19,332 shares, valued roughly at $2,239,612.20. Moreover, Senior Vice President Justin E. Dougherty executed a sale of 4,000 shares at an average price of $107.85, translating to a transaction value of $431,400.00. These insider activities provide an insight into the strategic decisions made by those closely associated with the company.
Increased Institutional Interest
Alongside individual insiders, institutional investors have demonstrated a heightened interest in Cirrus Logic. Several funds and investment firms have recently adjusted their holdings in CRUS. Venturi Wealth Management LLC, for instance, nearly doubled its stake in the fourth quarter, now possessing 368 shares valued at around $31,000. Similarly, Atlas Capital Advisors LLC saw a significant increase in their portfolio with the addition of 402 shares, now worth $37,000. These movements among institutional participants signal a growing confidence in Cirrus Logic’s market trajectory and operational performance.
This concerted enthusiasm from both analysts and investors underscores Cirrus Logic’s robust standing in the semiconductor industry. With innovative solutions and solid financials, the company continues to navigate its path through the rapidly evolving tech landscape, promising enticing prospects for its stakeholders.
