Cirrus Logic (NASDAQ:CRUS) Rating Lowered to Buy at StockNews.com

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

A number of other brokerages have also recently issued reports on CRUS. Barclays upped their price objective on shares of Cirrus Logic from $90.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, January 16th. TheStreet raised Cirrus Logic from a “c+” rating to a “b-” rating in a report on Tuesday, January 23rd. TD Cowen raised their price objective on Cirrus Logic from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Stifel Nicolaus upped their target price on Cirrus Logic from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Finally, Susquehanna lifted their price target on shares of Cirrus Logic from $85.00 to $100.00 and gave the company a “positive” rating in a research report on Wednesday, February 7th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Cirrus Logic has a consensus rating of “Buy” and a consensus price target of $96.43.

Cirrus Logic Price Performance

CRUS opened at $82.02 on Friday. The company has a market capitalization of $4.42 billion, a PE ratio of 26.04 and a beta of 1.00. Cirrus Logic has a fifty-two week low of $65.02 and a fifty-two week high of $95.87. The business has a 50-day moving average of $90.47 and a 200-day moving average of $81.62.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $2.53 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.83. The firm had revenue of $618.98 million for the quarter, compared to analyst estimates of $539.55 million. Cirrus Logic had a net margin of 9.84% and a return on equity of 16.13%. On average, equities research analysts expect that Cirrus Logic will post 4.79 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Venkatesh Nathamuni sold 1,000 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $95.00, for a total value of $95,000.00. Following the completion of the sale, the chief financial officer now directly owns 1,587 shares of the company’s stock, valued at $150,765. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Venkatesh Nathamuni sold 1,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $95.00, for a total transaction of $95,000.00. Following the transaction, the chief financial officer now owns 1,587 shares in the company, valued at approximately $150,765. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Justin E. Dougherty sold 3,280 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $91.40, for a total transaction of $299,792.00. Following the completion of the sale, the senior vice president now owns 6,000 shares of the company’s stock, valued at approximately $548,400. The disclosure for this sale can be found here. Insiders have sold a total of 7,530 shares of company stock valued at $700,292 in the last three months. Company insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Venturi Wealth Management LLC raised its stake in shares of Cirrus Logic by 93.7% in the 4th quarter. Venturi Wealth Management LLC now owns 368 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 178 shares in the last quarter. Covington Capital Management increased its stake in Cirrus Logic by 100.0% in the third quarter. Covington Capital Management now owns 400 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 200 shares during the period. Atlas Capital Advisors LLC raised its position in Cirrus Logic by 103.0% in 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. Quadrant Capital Group LLC lifted its stake in Cirrus Logic by 72.3% during the fourth quarter. Quadrant Capital Group LLC now owns 510 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 214 shares during the period. Finally, Nisa Investment Advisors LLC boosted its holdings in Cirrus Logic by 71.1% during the third quarter. Nisa Investment Advisors LLC now owns 722 shares of the semiconductor company’s stock valued at $53,000 after purchasing an additional 300 shares in 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 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.