News stories about Cirrus Logic (NASDAQ:CRUS) have been trending somewhat positive recently, according to Accern. The research group ranks the sentiment of press coverage by analyzing more than twenty million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Cirrus Logic earned a media sentiment score of 0.10 on Accern’s scale. Accern also assigned news headlines about the semiconductor company an impact score of 46.2426227274 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.
Here are some of the headlines that may have effected Accern Sentiment Analysis’s analysis:
Shares of NASDAQ:CRUS traded down $0.47 during mid-day trading on Friday, reaching $38.54. 1,252,326 shares of the company’s stock were exchanged, compared to its average volume of 1,152,676. The firm has a market cap of $2,442.13, a PE ratio of 9.40, a price-to-earnings-growth ratio of 1.32 and a beta of 0.22. Cirrus Logic has a twelve month low of $37.86 and a twelve month high of $71.97.
Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings results on Monday, February 5th. The semiconductor company reported $1.59 EPS for the quarter, missing analysts’ consensus estimates of $1.78 by ($0.19). The business had revenue of $482.70 million for the quarter, compared to analyst estimates of $530.99 million. Cirrus Logic had a return on equity of 22.60% and a net margin of 11.89%. Cirrus Logic’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.87 EPS. research analysts anticipate that Cirrus Logic will post 3.78 earnings per share for the current fiscal year.
Cirrus Logic declared that its board has initiated a stock repurchase plan on Monday, February 5th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the semiconductor company to buy shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
A number of brokerages recently issued reports on CRUS. Needham & Company LLC cut shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Tuesday, February 6th. Barclays decreased their price objective on shares of Cirrus Logic from $45.00 to $36.00 and set an “underweight” rating on the stock in a research note on Tuesday, February 6th. BidaskClub cut shares of Cirrus Logic from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 12th. Craig Hallum decreased their target price on shares of Cirrus Logic from $54.00 to $44.00 and set a “hold” rating on the stock in a research note on Tuesday, February 6th. Finally, Northland Securities reaffirmed a “buy” rating and set a $60.00 target price on shares of Cirrus Logic in a research note on Tuesday, February 6th. Five equities research analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. Cirrus Logic has an average rating of “Hold” and an average price target of $60.22.
In related news, VP Randolph K. Carlson sold 7,265 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $42.03, for a total value of $305,347.95. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last 90 days, insiders sold 7,941 shares of company stock worth $335,140. 1.92% of the stock is owned by company insiders.
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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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