Cirrus Logic (NASDAQ:CRUS) Stock Rating Lowered by 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 note issued to investors on Tuesday.

A number of other research analysts have also weighed in on CRUS. TD Cowen raised their target price on Cirrus Logic from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Barclays raised their target price on Cirrus Logic from $95.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. Benchmark lowered Cirrus Logic from a “buy” rating to a “hold” rating in a report on Thursday, May 16th. Stifel Nicolaus lifted their price target on Cirrus Logic from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Finally, Susquehanna lifted their price target on Cirrus Logic from $100.00 to $120.00 and gave the stock a “positive” rating in a report on Wednesday, May 8th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $107.86.

Cirrus Logic Trading Down 0.9 %

Shares of CRUS stock opened at $128.57 on Tuesday. The stock has a 50-day moving average of $112.88 and a 200-day moving average of $95.70. Cirrus Logic has a 1-year low of $65.02 and a 1-year high of $130.29. The stock has a market cap of $6.87 billion, a price-to-earnings ratio of 26.08 and a beta of 0.94.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings data on Tuesday, May 7th. The semiconductor company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.48. Cirrus Logic had a return on equity of 16.49% and a net margin of 15.35%. The firm had revenue of $371.83 million during the quarter, compared to analysts’ expectations of $320.14 million. Sell-side analysts forecast that Cirrus Logic will post 4.75 earnings per share for the current year.

Insider Activity

In related news, SVP Justin E. Dougherty sold 4,000 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $107.85, for a total transaction of $431,400.00. Following the completion of the transaction, the senior vice president now directly owns 5,838 shares in the company, valued at $629,628.30. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, SVP Justin E. Dougherty sold 4,000 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $107.85, for a total transaction of $431,400.00. Following the completion of the transaction, the senior vice president now directly owns 5,838 shares in the company, valued at $629,628.30. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Alexander M. Davern sold 1,000 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $115.85, for a total value of $115,850.00. Following the transaction, the director now owns 19,332 shares of the company’s stock, valued at $2,239,612.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,706 shares of company stock worth $2,187,098. 1.02% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cirrus Logic

Several hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in Cirrus Logic by 79.5% during 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 during the last quarter. DekaBank Deutsche Girozentrale lifted its stake in Cirrus Logic by 139.7% during the first quarter. DekaBank Deutsche Girozentrale now owns 1,994 shares of the semiconductor company’s stock worth $182,000 after purchasing an additional 1,162 shares during the last quarter. Burney Co. lifted its stake in Cirrus Logic by 7.3% during the first quarter. Burney Co. now owns 33,315 shares of the semiconductor company’s stock worth $3,084,000 after purchasing an additional 2,253 shares during the last quarter. EMC Capital Management lifted its stake in Cirrus Logic by 73.3% during the first quarter. EMC Capital Management now owns 3,688 shares of the semiconductor company’s stock worth $341,000 after purchasing an additional 1,560 shares during the last quarter. Finally, Comerica Bank lifted its stake in Cirrus Logic by 52.7% during the first quarter. Comerica Bank now owns 35,067 shares of the semiconductor company’s stock worth $3,246,000 after purchasing an additional 12,101 shares during the last quarter. Institutional investors own 87.96% 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 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.