Cirrus Logic (NASDAQ:CRUS) Rating Increased to Strong-Buy at StockNews.com

Cirrus Logic (NASDAQ:CRUSGet Rating) was upgraded by StockNews.com from a “hold” rating to a “strong-buy” rating in a report released on Thursday.

CRUS has been the subject of several other reports. KeyCorp dropped their target price on shares of Cirrus Logic from $120.00 to $105.00 in a research report on Wednesday, May 4th. Zacks Investment Research cut shares of Cirrus Logic from a “buy” rating to a “hold” rating and set a $88.00 target price for the company. in a research report on Tuesday, April 5th. Benchmark dropped their target price on shares of Cirrus Logic from $100.00 to $95.00 in a research report on Wednesday, May 4th. Stifel Nicolaus boosted their target price on shares of Cirrus Logic from $112.00 to $120.00 in a research report on Wednesday, May 4th. Finally, Barclays boosted their target price on shares of Cirrus Logic from $100.00 to $120.00 and gave the company an “overweight” rating in a research report on Wednesday, January 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $104.21.

NASDAQ CRUS opened at $75.48 on Thursday. The company has a market capitalization of $4.32 billion, a P/E ratio of 13.67, a P/E/G ratio of 4.78 and a beta of 0.90. Cirrus Logic has a 12-month low of $72.09 and a 12-month high of $95.84. The firm has a 50-day moving average price of $80.40 and a two-hundred day moving average price of $83.69.

Cirrus Logic (NASDAQ:CRUSGet Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The semiconductor company reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.61. The firm had revenue of $498.97 million during the quarter, compared to the consensus estimate of $420.19 million. Cirrus Logic had a net margin of 18.32% and a return on equity of 23.52%. The business’s revenue for the quarter was up 70.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.47 EPS. As a group, research analysts forecast that Cirrus Logic will post 5.03 earnings per share for the current fiscal year.

In other Cirrus Logic news, Director Alexander M. Davern sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, May 6th. The shares were sold at an average price of $79.99, for a total transaction of $79,990.00. Following the sale, the director now directly owns 17,575 shares of the company’s stock, valued at approximately $1,405,824.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Carl Jackson Alberty sold 3,726 shares of the business’s stock in a transaction that occurred on Friday, February 18th. The stock was sold at an average price of $85.74, for a total transaction of $319,467.24. The disclosure for this sale can be found here. 2.04% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of the company. Meritage Portfolio Management boosted its stake in shares of Cirrus Logic by 5.4% in the 4th quarter. Meritage Portfolio Management now owns 2,604 shares of the semiconductor company’s stock valued at $240,000 after purchasing an additional 134 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of Cirrus Logic by 0.3% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 49,590 shares of the semiconductor company’s stock valued at $4,563,000 after purchasing an additional 137 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Cirrus Logic by 17.2% in the 1st quarter. Signaturefd LLC now owns 941 shares of the semiconductor company’s stock valued at $80,000 after purchasing an additional 138 shares during the last quarter. Cornercap Investment Counsel Inc. boosted its stake in Cirrus Logic by 1.1% during the first quarter. Cornercap Investment Counsel Inc. now owns 14,129 shares of the semiconductor company’s stock worth $1,198,000 after acquiring an additional 150 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its stake in Cirrus Logic by 15.9% during the third quarter. O Shaughnessy Asset Management LLC now owns 1,344 shares of the semiconductor company’s stock worth $111,000 after acquiring an additional 184 shares in the last quarter. 86.74% of the stock is currently owned by institutional investors.

About Cirrus Logic (Get Rating)

Cirrus Logic, Inc, a fabless semiconductor company, provides low-power, high-precision mixed-signal processing solutions in the United States and internationally. It offers portable products, including codecs-chips that integrate analog-to-digital converters (ADCs) and digital-to-analog converters (DACs) into a single IC; smart codecs, a codec with digital signal processer; boosted amplifiers; micro-electromechanical systems microphones; haptic drivers; digital signal processors; and SoundClear technology, which consists of a portfolio of tools, software, and algorithms that offer enhanced voice quality, voice capture, and audio playback features.

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Analyst Recommendations for Cirrus Logic (NASDAQ:CRUS)

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