Wed Sep 25 07:20:47 UTC 2024: ## Cirrus Logic (CRUS) Sees Increased Institutional Interest, Analyst Optimism

**San Francisco, CA** – Cirrus Logic, Inc. (NASDAQ: CRUS) experienced a surge in institutional investor interest during the second quarter of 2024, with Commonwealth Equity Services LLC initiating a new position valued at $294,000. This follows a trend of several other institutional investors increasing their holdings in the semiconductor company, including Atlas Capital Advisors LLC, Quadrant Capital Group LLC, Versant Capital Management Inc., and GAMMA Investing LLC. Overall, institutional investors now own 87.96% of Cirrus Logic’s outstanding stock.

The positive sentiment surrounding Cirrus Logic extends to analysts as well. Several brokerages recently upgraded their price targets and ratings on the stock. KeyCorp boosted their target price to $165.00 with an “overweight” rating, while Susquehanna raised their price objective to $175.00 and gave the company a “positive” rating. Stifel Nicolaus and Barclays also upped their price targets, with “buy” and “overweight” ratings respectively. Currently, seven analysts have assigned a “buy” rating to Cirrus Logic, with only one analyst giving a “hold” rating. MarketBeat.com estimates an average rating of “Moderate Buy” and a target price of $143.33.

This positive outlook is driven by strong financial performance. Cirrus Logic surpassed earnings estimates in the second quarter, reporting $1.12 EPS compared to a consensus estimate of $0.62. Revenue also outperformed expectations, reaching $374.03 million against a projected $318.41 million.

Despite this positive news, insider trading activity reveals some mixed signals. VP Andrew Brannan sold 4,350 shares for $591,774.00, while SVP Justin E. Dougherty sold 10,203 shares for $1,343,837.13.

Cirrus Logic continues to develop innovative low-power, high-precision mixed-signal processing solutions for a range of applications, including smartphones, tablets, laptops, and audio systems. The company’s strong financial performance and positive analyst sentiment suggest a promising future for Cirrus Logic in the rapidly evolving semiconductor industry.

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