Cirrus Logic (NASDAQ:CRUS) Lowered to “Buy” at StockNews.com

StockNews.com lowered shares of Cirrus Logic (NASDAQ:CRUSFree Report) from a strong-buy rating to a buy rating in a report released on Saturday morning.

CRUS has been the topic of a number of other research reports. TheStreet raised Cirrus Logic from a c+ rating to a b- rating in a research note on Tuesday, January 23rd. Stifel Nicolaus lifted their price target on Cirrus Logic from $95.00 to $100.00 and gave the company a buy rating in a report on Wednesday, February 7th. Susquehanna increased their price objective on shares of Cirrus Logic from $85.00 to $100.00 and gave the stock a positive rating in a report on Wednesday, February 7th. Barclays raised their target price on shares of Cirrus Logic from $90.00 to $95.00 and gave the stock an overweight rating in a research report on Tuesday, January 16th. Finally, TD Cowen increased their price target on shares of Cirrus Logic from $90.00 to $100.00 and gave the stock an outperform rating in a research note on Wednesday, February 7th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Cirrus Logic currently has an average rating of Buy and an average target price of $96.43.

Get Our Latest Research Report on Cirrus Logic

Cirrus Logic Trading Down 1.5 %

Shares of CRUS stock opened at $82.02 on Friday. The company has a market capitalization of $4.42 billion, a price-to-earnings ratio of 26.04 and a beta of 1.00. The firm has a 50-day moving average price of $90.47 and a 200 day moving average price of $81.69. Cirrus Logic has a twelve month low of $65.02 and a twelve month high of $95.87.

Cirrus Logic (NASDAQ:CRUSGet Free Report) last posted its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $2.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.83. Cirrus Logic had a net margin of 9.84% and a return on equity of 16.13%. The business had revenue of $618.98 million during the quarter, compared to analyst estimates of $539.55 million. As a group, research analysts predict that Cirrus Logic will post 4.79 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Justin E. Dougherty sold 3,280 shares of Cirrus Logic stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $91.40, for a total transaction of $299,792.00. Following the transaction, the senior vice president now owns 6,000 shares in the company, valued at approximately $548,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Justin E. Dougherty sold 3,280 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $91.40, for a total transaction of $299,792.00. Following the sale, the senior vice president now directly owns 6,000 shares in the company, valued at approximately $548,400. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Venkatesh Nathamuni sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $95.00, for a total value of $95,000.00. Following the completion of the transaction, the chief financial officer now owns 1,587 shares of the company’s stock, valued at approximately $150,765. The disclosure for this sale can be found here. Insiders sold a total of 7,530 shares of company stock worth $700,292 over the last ninety days. 0.89% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cirrus Logic

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CRUS. US Bancorp DE grew its stake in shares of Cirrus Logic by 12.3% during the first quarter. US Bancorp DE now owns 1,711 shares of the semiconductor company’s stock valued at $145,000 after acquiring an additional 188 shares in the last quarter. MetLife Investment Management LLC increased its holdings in Cirrus Logic by 33.8% during the 1st quarter. MetLife Investment Management LLC now owns 37,038 shares of the semiconductor company’s stock worth $3,140,000 after purchasing an additional 9,349 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Cirrus Logic by 10.8% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,994 shares of the semiconductor company’s stock valued at $1,780,000 after purchasing an additional 2,051 shares in the last quarter. Great West Life Assurance Co. Can raised its position in shares of Cirrus Logic by 8.9% in the 1st quarter. Great West Life Assurance Co. Can now owns 31,668 shares of the semiconductor company’s stock valued at $2,759,000 after purchasing an additional 2,600 shares in the last quarter. Finally, Yousif Capital Management LLC boosted its stake in shares of Cirrus Logic by 1.6% during the 1st quarter. Yousif Capital Management LLC now owns 30,028 shares of the semiconductor company’s stock valued at $2,546,000 after buying an additional 468 shares during the last quarter. Hedge funds and other institutional investors own 87.96% of the company’s stock.

About Cirrus Logic

(Get Free Report)

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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