Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) have earned an average rating of “Buy” from the eighteen research firms that are presently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation, eleven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $65.74.
Several research firms have weighed in on CRUS. Zacks Investment Research lowered shares of Cirrus Logic from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Canaccord Genuity reiterated a “buy” rating and issued a $76.00 target price on shares of Cirrus Logic in a report on Friday, November 3rd. Northland Securities restated a “buy” rating on shares of Cirrus Logic in a report on Friday, November 3rd. Needham & Company LLC restated a “buy” rating and issued a $80.00 price objective on shares of Cirrus Logic in a report on Friday, November 3rd. Finally, Craig Hallum restated a “hold” rating and issued a $54.00 price objective (down from $63.00) on shares of Cirrus Logic in a report on Friday, November 3rd.
Cirrus Logic (CRUS) opened at $55.77 on Friday. The firm has a market cap of $3,550.60, a PE ratio of 12.73, a price-to-earnings-growth ratio of 1.45 and a beta of 0.05. Cirrus Logic has a fifty-two week low of $49.05 and a fifty-two week high of $71.97.
Cirrus Logic (NASDAQ:CRUS) last posted its earnings results on Thursday, November 2nd. The semiconductor company reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.16. The company had revenue of $425.50 million for the quarter, compared to analyst estimates of $410.32 million. Cirrus Logic had a net margin of 17.11% and a return on equity of 25.37%. Cirrus Logic’s revenue was down .7% on a year-over-year basis. During the same period in the previous year, the business posted $1.35 EPS. research analysts expect that Cirrus Logic will post 4.24 EPS for the current year.
In other Cirrus Logic news, VP Bradley J. Fluke sold 7,325 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $53.44, for a total value of $391,448.00. Following the sale, the vice president now directly owns 12,000 shares of the company’s stock, valued at approximately $641,280. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Christine King sold 5,000 shares of the stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $54.14, for a total transaction of $270,700.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,367 shares of company stock worth $2,436,605. 1.92% of the stock is owned by company insiders.
Several large investors have recently made changes to their positions in the business. California Public Employees Retirement System increased its position in shares of Cirrus Logic by 2.1% in the 3rd quarter. California Public Employees Retirement System now owns 166,160 shares of the semiconductor company’s stock valued at $8,860,000 after purchasing an additional 3,460 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of Cirrus Logic by 29.0% in the 3rd quarter. Janney Montgomery Scott LLC now owns 15,843 shares of the semiconductor company’s stock valued at $845,000 after purchasing an additional 3,558 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Cirrus Logic in the 3rd quarter valued at approximately $3,335,000. Vident Investment Advisory LLC purchased a new stake in shares of Cirrus Logic in the 3rd quarter valued at approximately $2,117,000. Finally, Commerzbank Aktiengesellschaft FI increased its position in shares of Cirrus Logic by 8.8% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 140,092 shares of the semiconductor company’s stock valued at $7,470,000 after purchasing an additional 11,317 shares during the last quarter. 91.50% of the stock is currently owned by institutional investors.
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Cirrus Logic Company Profile
Cirrus Logic, Inc is engaged in providing integrated circuits (ICs) for audio and voice signal processing applications. The Company develops analog and mixed-signal ICs for a range of customers. The Company offers two product lines: Portable Audio, and Non-Portable Audio and Other. The Company’s primary facility housing engineering, sales and marketing, and administration functions is located in Austin, Texas.
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