Cirrus Logic, Inc. (NASDAQ:CRUS) shares hit a new 52-week high on Thursday . The company traded as high as $72.69 and last traded at $72.37, with a volume of 19787 shares changing hands. The stock had previously closed at $71.95.
A number of equities research analysts have weighed in on CRUS shares. Dougherty & Co reaffirmed a “buy” rating and issued a $62.00 price objective (up previously from $53.00) on shares of Cirrus Logic in a report on Thursday, August 1st. Needham & Company LLC reissued a “hold” rating on shares of Cirrus Logic in a research note on Monday, August 5th. Barclays raised Cirrus Logic from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $40.00 to $55.00 in a research note on Thursday, October 17th. Bank of America reissued an “underperform” rating and set a $46.00 price target (up previously from $40.00) on shares of Cirrus Logic in a research note on Thursday, August 1st. Finally, ValuEngine lowered Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $61.00.
The company has a 50 day moving average price of $59.86 and a 200 day moving average price of $50.58. The company has a current ratio of 3.38, a quick ratio of 2.63 and a debt-to-equity ratio of 0.11. The firm has a market cap of $4.16 billion, a PE ratio of 35.47, a price-to-earnings-growth ratio of 1.77 and a beta of 0.91.
In other Cirrus Logic news, Director John C. Carter sold 12,521 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $72.71, for a total value of $910,401.91. Also, VP Scott Arnold Anderson sold 16,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $71.13, for a total transaction of $1,138,080.00. Over the last ninety days, insiders have sold 48,339 shares of company stock valued at $3,134,112. 2.79% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of CRUS. Steward Partners Investment Advisory LLC purchased a new position in Cirrus Logic in the 2nd quarter valued at about $33,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Cirrus Logic during the second quarter worth about $44,000. Meeder Asset Management Inc. raised its stake in Cirrus Logic by 210.6% during the second quarter. Meeder Asset Management Inc. now owns 1,525 shares of the semiconductor company’s stock worth $67,000 after acquiring an additional 1,034 shares during the period. Patriot Financial Group Insurance Agency LLC raised its stake in Cirrus Logic by 160.0% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 1,300 shares of the semiconductor company’s stock worth $70,000 after acquiring an additional 800 shares during the period. Finally, US Bancorp DE raised its stake in Cirrus Logic by 106.1% during the second quarter. US Bancorp DE now owns 2,117 shares of the semiconductor company’s stock worth $92,000 after acquiring an additional 1,090 shares during the period. 86.49% of the stock is owned by institutional investors.
About Cirrus Logic (NASDAQ:CRUS)
Cirrus Logic, Inc, a fabless semiconductor company, develops, manufactures, and markets analog and mixed-signal integrated circuits (ICs) for a range of consumer and industrial markets. The company offers portable and non-portable audio, and other products. Its products include analog and mixed-signal audio converters, and digital signal processing products for mobile applications; codecs-chips that integrate analog-to-digital converters and digital-to-analog converters into a single IC; smart codecs, a codec with digital signal processer; boosted amplifiers; micro-electromechanical systems microphones; digital interface products; and standalone digital signal processors.
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