Cirrus Logic (NASDAQ:CRUS) Upgraded by StockNews.com to Strong-Buy

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

CRUS has been the topic of a number of other reports. TheStreet raised shares of Cirrus Logic from a c+ rating to a b- rating in a research note on Tuesday, January 23rd. Susquehanna raised their price target on Cirrus Logic from $100.00 to $120.00 and gave the stock a positive rating in a research report on Wednesday. Barclays lifted their price objective on Cirrus Logic from $95.00 to $110.00 and gave the stock an overweight rating in a research note on Wednesday. TD Cowen raised their target price on Cirrus Logic from $100.00 to $115.00 and gave the stock a buy rating in a report on Wednesday. Finally, KeyCorp upped their price target on Cirrus Logic from $100.00 to $120.00 and gave the company an overweight rating in a research note on Wednesday. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cirrus Logic currently has an average rating of Buy and an average price target of $107.86.

Cirrus Logic Stock Up 12.2 %

Cirrus Logic stock opened at $102.24 on Wednesday. The business’s 50-day simple moving average is $89.88 and its 200 day simple moving average is $83.31. The stock has a market cap of $5.51 billion, a price-to-earnings ratio of 32.46 and a beta of 0.99. Cirrus Logic has a 12-month low of $65.02 and a 12-month high of $103.30.

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

Insiders Place Their Bets

In other news, SVP Justin E. Dougherty sold 3,280 shares of Cirrus Logic stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $91.40, for a total transaction of $299,792.00. Following the transaction, the senior vice president now owns 6,000 shares in the company, valued at approximately $548,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On Cirrus Logic

Institutional investors have recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC boosted its stake in shares of Cirrus Logic by 93.7% during the 4th quarter. Venturi Wealth Management LLC now owns 368 shares of the semiconductor company’s stock worth $31,000 after buying an additional 178 shares during the last quarter. Atlas Capital Advisors LLC boosted its holdings in shares of Cirrus Logic by 103.0% in the 1st quarter. Atlas Capital Advisors LLC now owns 402 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 204 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of Cirrus Logic by 72.3% in the fourth quarter. Quadrant Capital Group LLC now owns 510 shares of the semiconductor company’s stock valued at $42,000 after buying an additional 214 shares in the last quarter. Nisa Investment Advisors LLC increased 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 worth $53,000 after buying an additional 300 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new stake in Cirrus Logic during the third quarter worth $62,000. 87.96% of the stock is owned by institutional investors.

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 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.