Cirrus Logic (NASDAQ:CRUS) Downgraded by StockNews.com to Buy

Cirrus Logic (NASDAQ:CRUS) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Tuesday.

CRUS has been the topic of a number of other research reports. TD Cowen lifted their price target on shares of Cirrus Logic from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Barclays boosted their price target on Cirrus Logic from $95.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, May 8th. Benchmark lowered Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. Susquehanna lifted their price objective on Cirrus Logic from $100.00 to $120.00 and gave the company a “positive” rating in a research note on Wednesday, May 8th. Finally, KeyCorp increased their target price on shares of Cirrus Logic from $100.00 to $120.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Cirrus Logic presently has a consensus rating of “Moderate Buy” and an average target price of $107.86.

Cirrus Logic Trading Down 0.3 %

NASDAQ CRUS opened at $127.29 on Tuesday. The company has a market capitalization of $6.80 billion, a PE ratio of 25.82 and a beta of 0.94. The business’s 50-day moving average price is $111.13 and its 200 day moving average price is $95.15. Cirrus Logic has a twelve month low of $65.02 and a twelve month high of $130.04.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings data on Tuesday, May 7th. The semiconductor company reported $0.84 earnings per share 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 business had revenue of $371.83 million for the quarter, compared to analyst estimates of $320.14 million. Equities analysts predict that Cirrus Logic will post 4.75 EPS for the current year.

Insider Buying and Selling

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

Institutional Trading of Cirrus Logic

Several institutional investors and hedge funds have recently bought and sold shares of CRUS. Vanguard Group Inc. grew its holdings in shares of Cirrus Logic by 2.1% during the first quarter. Vanguard Group Inc. now owns 6,363,188 shares of the semiconductor company’s stock valued at $588,977,000 after purchasing an additional 128,393 shares during the last quarter. Mackenzie Financial Corp increased its holdings in shares of Cirrus Logic by 1.5% in the 4th quarter. Mackenzie Financial Corp now owns 2,485,746 shares of the semiconductor company’s stock worth $206,789,000 after acquiring an additional 35,722 shares during the period. LSV Asset Management lifted its position in Cirrus Logic by 8.3% in the 1st quarter. LSV Asset Management now owns 1,404,407 shares of the semiconductor company’s stock valued at $129,992,000 after purchasing an additional 107,888 shares during the last quarter. Wellington Management Group LLP boosted its stake in Cirrus Logic by 2.9% during the 4th quarter. Wellington Management Group LLP now owns 1,368,475 shares of the semiconductor company’s stock valued at $113,843,000 after purchasing an additional 38,659 shares during the period. Finally, Earnest Partners LLC grew its position in Cirrus Logic by 4.8% in the 1st quarter. Earnest Partners LLC now owns 1,318,381 shares of the semiconductor company’s stock worth $122,029,000 after purchasing an additional 60,261 shares during the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

Cirrus Logic Company Profile

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.