Cirrus Logic (NASDAQ:CRUS) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Cirrus Logic (NASDAQ:CRUS) from a strong-buy rating to a buy rating in a research note released on Wednesday.

Several other research analysts also recently commented on the company. Stifel Nicolaus increased their price objective on Cirrus Logic from $110.00 to $165.00 and gave the company a buy rating in a research note on Thursday, July 18th. KeyCorp increased their target price on shares of Cirrus Logic from $155.00 to $165.00 and gave the company an overweight rating in a research report on Wednesday, August 7th. Susquehanna boosted their price target on shares of Cirrus Logic from $120.00 to $175.00 and gave the stock a positive rating in a research report on Wednesday, July 17th. Finally, Barclays upped their price objective on shares of Cirrus Logic from $110.00 to $140.00 and gave the company an overweight rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $143.33.

Cirrus Logic Stock Up 2.3 %

CRUS opened at $121.21 on Wednesday. The company has a market cap of $6.48 billion, a price-to-earnings ratio of 24.59 and a beta of 0.96. The firm’s fifty day simple moving average is $130.36 and its two-hundred day simple moving average is $118.11. Cirrus Logic has a 52-week low of $65.02 and a 52-week high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings data on Tuesday, August 6th. The semiconductor company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.50. Cirrus Logic had a return on equity of 17.42% and a net margin of 16.31%. The company had revenue of $374.03 million for the quarter, compared to analysts’ expectations of $318.41 million. During the same period in the previous year, the firm posted $0.35 EPS. Cirrus Logic’s revenue was up 18.0% compared to the same quarter last year. On average, research analysts forecast that Cirrus Logic will post 5.26 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Justin E. Dougherty sold 10,203 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $131.71, for a total value of $1,343,837.13. Following the completion of the sale, the senior vice president now owns 4,838 shares of the company’s stock, valued at $637,212.98. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Cirrus Logic news, VP Andrew Brannan sold 4,350 shares of Cirrus Logic stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $136.04, for a total value of $591,774.00. Following the sale, the vice president now owns 4,004 shares in the company, valued at $544,704.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Justin E. Dougherty sold 10,203 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $131.71, for a total value of $1,343,837.13. Following the transaction, the senior vice president now owns 4,838 shares of the company’s stock, valued at approximately $637,212.98. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.02% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CRUS. Versant Capital Management Inc raised its stake in shares of Cirrus Logic by 1,911.1% in the 2nd quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company’s stock valued at $46,000 after acquiring an additional 344 shares during the period. Atlas Capital Advisors LLC lifted its stake in Cirrus Logic by 103.0% during the first quarter. Atlas Capital Advisors LLC now owns 402 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 204 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of 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 buying an additional 210 shares during the period. 1620 Investment Advisors Inc. acquired a new stake in shares of Cirrus Logic in the second quarter valued at $77,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of Cirrus Logic by 52.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 961 shares of the semiconductor company’s stock valued at $123,000 after buying an additional 329 shares during the period. Hedge funds and other institutional investors 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.