News stories about Cirrus Logic (NASDAQ:CRUS) have trended very positive recently, Accern reports. The research group identifies negative and positive media coverage by monitoring more than 20 million blog and news sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Cirrus Logic earned a media sentiment score of 0.53 on Accern’s scale. Accern also assigned news headlines about the semiconductor company an impact score of 66 out of 100, meaning that recent media coverage is likely to have an impact on the company’s share price in the near term.
These are some of the headlines that may have effected Accern Sentiment Analysis’s scoring:
- Cirrus Logic, Inc. (NASDAQ:CRUS) Given Average Recommendation of “Buy” by Brokerages (americanbankingnews.com)
- Cirrus Logic, Inc. (CRUS) CFO Sells $493,783.50 in Stock (americanbankingnews.com)
- Insider Selling: Cirrus Logic, Inc. (NASDAQ:CRUS) VP Sells 53,332 Shares of Stock (americanbankingnews.com)
- Bessemer Group Inc. Maintains Stake in Cirrus Logic, Inc. (CRUS) (topactu.net)
- Cirrus Logic, Inc. (NASDAQ:CRUS) Stake Cut by Emerald Advisers Inc. PA (overnewsmagazine.com)
A number of equities research analysts recently issued reports on the stock. Needham & Company LLC reissued a “buy” rating and issued a $80.00 price target (up previously from $70.00) on shares of Cirrus Logic in a research note on Thursday, June 1st. Stifel Nicolaus raised their price objective on Cirrus Logic from $70.00 to $73.00 and gave the company a “buy” rating in a report on Wednesday, May 24th. Dougherty & Co raised their price objective on Cirrus Logic from $65.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, May 4th. Vetr lowered Cirrus Logic from a “strong-buy” rating to a “buy” rating and set a $70.00 price objective on the stock. in a report on Tuesday, April 18th. Finally, BidaskClub lowered Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $68.59.
Cirrus Logic (NASDAQ:CRUS) traded down 0.60% during trading on Friday, reaching $55.13. The company’s stock had a trading volume of 1,356,516 shares. The company has a market capitalization of $3.52 billion, a P/E ratio of 12.89 and a beta of 0.01. The company’s 50-day moving average is $62.66 and its 200-day moving average is $61.51. Cirrus Logic has a 1-year low of $47.01 and a 1-year high of $71.97.
Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings data on Wednesday, August 2nd. The semiconductor company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.15. The company had revenue of $320.70 million for the quarter, compared to the consensus estimate of $320.32 million. Cirrus Logic had a return on equity of 26.71% and a net margin of 17.38%. The company’s quarterly revenue was up 23.6% compared to the same quarter last year. During the same period last year, the business posted $0.44 EPS. Equities analysts anticipate that Cirrus Logic will post $4.74 EPS for the current year.
In other news, VP Scott Arnold Anderson sold 17,466 shares of the stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $64.20, for a total value of $1,121,317.20. Following the completion of the sale, the vice president now owns 24,432 shares in the company, valued at $1,568,534.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Randolph K. Carlson sold 53,332 shares of the stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $57.10, for a total value of $3,045,257.20. Following the completion of the sale, the vice president now owns 27,265 shares of the company’s stock, valued at approximately $1,556,831.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 105,719 shares of company stock worth $6,342,696. Company insiders own 1.92% of the company’s stock.
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About Cirrus Logic
Cirrus Logic, Inc is engaged in providing integrated circuits (ICs) for audio and voice signal processing applications. The Company develops analog and mixed-signal ICs for a range of customers. The Company offers two product lines: Portable Audio, and Non-Portable Audio and Other. The Company’s primary facility housing engineering, sales and marketing, and administration functions is located in Austin, Texas.
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