StockNews.com Downgrades Cirrus Logic (NASDAQ:CRUS) to Hold

Cirrus Logic (NASDAQ:CRUS) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

Several other brokerages have also issued reports on CRUS. Susquehanna dropped their target price on Cirrus Logic from $160.00 to $135.00 and set a “positive” rating for the company in a research report on Tuesday. Barclays decreased their price target on shares of Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating for the company in a research note on Tuesday. Stifel Nicolaus reduced their price objective on shares of Cirrus Logic from $165.00 to $140.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, KeyCorp boosted their price objective on shares of Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $132.00.

Cirrus Logic Trading Down 0.5 %

CRUS opened at $103.55 on Wednesday. The firm has a market cap of $5.53 billion, a P/E ratio of 17.55 and a beta of 0.96. Cirrus Logic has a 12 month low of $69.23 and a 12 month high of $147.46. The stock has a 50-day moving average of $123.31 and a 200 day moving average of $121.98.

Cirrus Logic (NASDAQ:CRUS) last announced its earnings results on Monday, November 4th. The semiconductor company reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.23. Cirrus Logic had a return on equity of 18.42% and a net margin of 17.19%. The business had revenue of $541.90 million during the quarter, compared to analyst estimates of $520.53 million. During the same quarter in the previous year, the business earned $1.43 earnings per share. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. On average, research analysts forecast that Cirrus Logic will post 5.37 earnings per share for the current fiscal year.

Insider Buying and Selling at Cirrus Logic

In related news, VP Andrew Brannan sold 4,350 shares of Cirrus Logic stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $136.04, for a total transaction of $591,774.00. Following the sale, the vice president now directly owns 4,004 shares in the company, valued at $544,704.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.02% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Huntington National Bank boosted its holdings in Cirrus Logic by 10,500.0% during the third quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock worth $26,000 after buying an additional 210 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of Cirrus Logic by 98.4% in the third quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 120 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in Cirrus Logic during the third quarter worth approximately $31,000. Versant Capital Management Inc increased its position in Cirrus Logic by 1,911.1% during the second quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company’s stock worth $46,000 after purchasing an additional 344 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in Cirrus Logic by 79.5% during the second quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company’s stock worth $61,000 after purchasing an additional 210 shares during the last quarter. 87.96% of the stock is currently owned by institutional investors and hedge funds.

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.