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

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

A number of other research analysts also recently commented on the company. Stifel Nicolaus increased their target price on Cirrus Logic from $110.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Barclays raised their price objective on Cirrus Logic from $110.00 to $140.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Susquehanna boosted their target price on shares of Cirrus Logic from $120.00 to $175.00 and gave the company a “positive” rating in a research note on Wednesday, July 17th. Finally, KeyCorp increased their target price on shares of Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $140.00.

Cirrus Logic Trading Down 1.3 %

Shares of NASDAQ:CRUS opened at $119.69 on Wednesday. The firm has a market cap of $6.40 billion, a PE ratio of 24.28 and a beta of 0.96. The company has a fifty day simple moving average of $130.34 and a 200 day simple moving average of $118.12. Cirrus Logic has a 12-month low of $65.02 and a 12-month high of $147.46.

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

Insider Buying and Selling at Cirrus Logic

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

Institutional Trading of Cirrus Logic

Large investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc grew its stake in shares of Cirrus Logic by 1,911.1% in the second quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company’s stock worth $46,000 after purchasing an additional 344 shares in the last quarter. Atlas Capital Advisors LLC grew its stake in shares of 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. GAMMA Investing LLC grew its stake in shares of Cirrus Logic by 79.5% in the second quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company’s stock worth $61,000 after purchasing an additional 210 shares in the last quarter. 1620 Investment Advisors Inc. bought a new position in shares of Cirrus Logic in the second quarter worth $77,000. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of Cirrus Logic by 52.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 961 shares of the semiconductor company’s stock worth $123,000 after purchasing an additional 329 shares in the last quarter. 87.96% of the stock is currently owned by institutional investors and hedge funds.

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.