BidaskClub upgraded shares of Cirrus Logic (NASDAQ:CRUS) from a strong sell rating to a sell rating in a research report report published on Thursday.
Several other equities analysts have also commented on the stock. ValuEngine lowered shares of Cirrus Logic from a hold rating to a sell rating in a research report on Wednesday, September 12th. Zacks Investment Research upgraded shares of Cirrus Logic from a hold rating to a buy rating and set a $48.00 price objective for the company in a research report on Tuesday, August 7th. Susquehanna Bancshares increased their price objective on shares of Cirrus Logic from $45.00 to $59.00 and gave the company a positive rating in a research report on Thursday, August 2nd. Bank of America increased their price objective on shares of Cirrus Logic from $28.00 to $33.00 and gave the company an underperform rating in a research report on Thursday, August 2nd. Finally, Craig Hallum increased their price objective on shares of Cirrus Logic from $43.00 to $51.00 and gave the company a buy rating in a research report on Thursday, August 2nd. Five equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $53.24.
CRUS stock traded down $0.12 during trading on Thursday, hitting $37.10. 28,689 shares of the company’s stock traded hands, compared to its average volume of 877,499. Cirrus Logic has a 52 week low of $34.49 and a 52 week high of $58.80. The firm has a market capitalization of $2.30 billion, a P/E ratio of 10.14, a price-to-earnings-growth ratio of 0.94 and a beta of 0.41.
Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings data on Wednesday, August 1st. The semiconductor company reported $0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.36. Cirrus Logic had a net margin of 7.83% and a return on equity of 17.46%. The business had revenue of $254.48 million during the quarter, compared to analyst estimates of $231.38 million. During the same quarter last year, the business earned $0.81 earnings per share. Cirrus Logic’s quarterly revenue was down 20.7% compared to the same quarter last year. Research analysts anticipate that Cirrus Logic will post 2.66 EPS for the current fiscal year.
In other news, Director Timothy R. Dehne sold 4,171 shares of the stock in a transaction on Sunday, August 26th. The shares were sold at an average price of $44.99, for a total value of $187,653.29. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 2.32% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. grace capital purchased a new stake in shares of Cirrus Logic in the second quarter valued at $115,000. Bank of Montreal Can raised its stake in shares of Cirrus Logic by 88.7% in the third quarter. Bank of Montreal Can now owns 3,388 shares of the semiconductor company’s stock valued at $131,000 after acquiring an additional 1,593 shares during the period. First Hawaiian Bank purchased a new position in Cirrus Logic in the 3rd quarter worth about $140,000. Itau Unibanco Holding S.A. increased its stake in Cirrus Logic by 91.8% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 3,723 shares of the semiconductor company’s stock worth $143,000 after buying an additional 1,782 shares during the period. Finally, Fox Run Management L.L.C. purchased a new position in Cirrus Logic in the 2nd quarter worth about $216,000. 88.77% of the stock is currently owned by institutional investors and hedge funds.
Cirrus Logic Company Profile
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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