StockNews.com Upgrades Cirrus Logic (NASDAQ:CRUS) to “Buy”

Cirrus Logic (NASDAQ:CRUS) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Monday.

Several other equities research analysts have also recently issued reports on the company. Loop Capital upgraded Cirrus Logic from a “hold” rating to a “buy” rating and boosted their price target for the company from $83.00 to $100.00 in a research note on Wednesday, November 1st. Susquehanna cut their price target on Cirrus Logic from $95.00 to $80.00 and set a “positive” rating for the company in a research note on Tuesday, October 24th. Bank of America boosted their price target on Cirrus Logic from $75.00 to $80.00 in a research note on Friday, August 4th. Finally, KeyCorp cut their target price on Cirrus Logic from $110.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, November 3rd. Ten research analysts have rated the stock with a buy rating, According to MarketBeat.com, Cirrus Logic has a consensus rating of “Buy” and an average price target of $98.50.

Cirrus Logic Stock Up 3.9 %

Shares of NASDAQ CRUS opened at $75.01 on Monday. Cirrus Logic has a twelve month low of $65.02 and a twelve month high of $111.15. The business’s 50 day moving average price is $71.31 and its two-hundred day moving average price is $76.45. The company has a market cap of $4.04 billion, a PE ratio of 30.25, a price-to-earnings-growth ratio of 11.44 and a beta of 0.98.

Insider Activity

In related news, VP Andrew Brannan sold 950 shares of the stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $80.00, for a total value of $76,000.00. Following the completion of the sale, the vice president now directly owns 6,555 shares in the company, valued at $524,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.89% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cirrus Logic

A number of institutional investors and hedge funds have recently made changes to their positions in CRUS. Covington Capital Management lifted its position in shares of Cirrus Logic by 100.0% during the 3rd quarter. Covington Capital Management now owns 400 shares of the semiconductor company’s stock worth $28,000 after buying an additional 200 shares in the last quarter. Altshuler Shaham Ltd bought a new stake in shares of Cirrus Logic during the 1st quarter worth $32,000. Ameritas Advisory Services LLC purchased a new stake in Cirrus Logic during the first quarter valued at about $35,000. Nisa Investment Advisors LLC boosted its holdings in shares of Cirrus Logic by 71.1% during the third quarter. Nisa Investment Advisors LLC now owns 722 shares of the semiconductor company’s stock worth $53,000 after purchasing an additional 300 shares during the period. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of Cirrus Logic during the first quarter worth about $57,000. Institutional investors own 90.18% 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 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 digital signal processing; boosted amplifiers; 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.