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

StockNews.com cut shares of Cirrus Logic (NASDAQ:CRUS) from a strong-buy rating to a buy rating in a research note issued to investors on Thursday.

A number of other brokerages have also weighed in on CRUS. Barclays upped their price target on shares of Cirrus Logic from $95.00 to $110.00 and gave the stock an overweight rating in a research note on Wednesday, May 8th. TD Cowen upped their price target on shares of Cirrus Logic from $100.00 to $115.00 and gave the stock a buy rating in a research note on Wednesday, May 8th. Benchmark lowered shares of Cirrus Logic from a buy rating to a hold rating in a research note on Thursday, May 16th. Susquehanna upped their price target on shares of Cirrus Logic from $100.00 to $120.00 and gave the stock a positive rating in a research note on Wednesday, May 8th. Finally, Stifel Nicolaus upped their price target on shares of Cirrus Logic from $100.00 to $110.00 and gave the stock a buy rating in a research note on Wednesday, May 8th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Cirrus Logic currently has a consensus rating of Moderate Buy and a consensus target price of $107.86.

Cirrus Logic Trading Down 1.8 %

NASDAQ CRUS opened at $124.85 on Thursday. Cirrus Logic has a 52 week low of $65.02 and a 52 week high of $128.64. The stock has a market cap of $6.67 billion, a price-to-earnings ratio of 25.32 and a beta of 0.97. The company has a 50-day moving average price of $105.37 and a two-hundred day moving average price of $92.67.

Cirrus Logic (NASDAQ:CRUS) last posted its earnings results on Tuesday, May 7th. The semiconductor company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.36 by $0.48. Cirrus Logic had a net margin of 15.35% and a return on equity of 16.49%. The firm had revenue of $371.83 million during the quarter, compared to analysts’ expectations of $320.14 million. As a group, equities research analysts expect that Cirrus Logic will post 4.75 earnings per share for the current fiscal year.

Insider Activity at Cirrus Logic

In related news, SVP Scott Thomas sold 11,706 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $120.72, for a total value of $1,413,148.32. Following the completion of the sale, the senior vice president now owns 23,975 shares in the company, valued at approximately $2,894,262. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, SVP Justin E. Dougherty sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $107.85, for a total value of $431,400.00. Following the completion of the sale, the senior vice president now owns 5,838 shares in the company, valued at approximately $629,628.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Scott Thomas sold 11,706 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $120.72, for a total transaction of $1,413,148.32. Following the completion of the sale, the senior vice president now owns 23,975 shares of the company’s stock, valued at approximately $2,894,262. The disclosure for this sale can be found here. Insiders sold a total of 18,706 shares of company stock valued at $2,187,098 over the last ninety days. Insiders own 1.02% of the company’s stock.

Institutional Investors Weigh In On Cirrus Logic

Hedge funds have recently made changes to their positions in the company. Venturi Wealth Management LLC increased its stake in Cirrus Logic by 93.7% in the 4th quarter. Venturi Wealth Management LLC now owns 368 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 178 shares during the period. Atlas Capital Advisors LLC increased its stake in Cirrus Logic by 103.0% in the 1st quarter. Atlas Capital Advisors LLC now owns 402 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 204 shares during the period. Quadrant Capital Group LLC increased its stake in Cirrus Logic by 72.3% in the 4th quarter. Quadrant Capital Group LLC now owns 510 shares of the semiconductor company’s stock valued at $42,000 after buying an additional 214 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in Cirrus Logic in the 3rd quarter valued at approximately $62,000. Finally, Disciplined Equity Management Inc. acquired a new position in Cirrus Logic in the 4th quarter valued at approximately $83,000. Hedge funds and other institutional investors own 87.96% of the company’s stock.

About Cirrus Logic

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 amplifiers; 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 integrated digital signal processing; 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 for use in smartphones, tablets, laptops, AR/VR headsets, home theater systems, automotive entertainment systems, and professional audio systems.