Vetr lowered shares of Cirrus Logic (NASDAQ:CRUS) from a hold rating to a sell rating in a research note issued to investors on Monday morning. The firm currently has $49.82 price objective on the semiconductor company’s stock.
Other equities analysts also recently issued reports about the stock. Bank of America assumed coverage on shares of Cirrus Logic in a research note on Monday, September 18th. They issued an underperform rating and a $50.00 target price on the stock. ValuEngine downgraded shares of Cirrus Logic from a buy rating to a hold rating in a research note on Monday, September 18th. Canaccord Genuity restated a buy rating and issued a $76.00 target price on shares of Cirrus Logic in a research note on Tuesday, September 19th. Craig Hallum restated a hold rating and issued a $54.00 target price (down from $63.00) on shares of Cirrus Logic in a research note on Friday, November 3rd. Finally, Zacks Investment Research downgraded shares of Cirrus Logic from a buy rating to a hold rating in a research note on Tuesday, October 17th. Four research analysts have rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the stock. Cirrus Logic currently has a consensus rating of Hold and an average price target of $65.76.
Cirrus Logic (NASDAQ:CRUS) opened at $52.62 on Monday. The company has a market cap of $3,318.23, a PE ratio of 11.90, a price-to-earnings-growth ratio of 1.36 and a beta of 0.01. Cirrus Logic has a one year low of $48.61 and a one year high of $71.97.
In other news, Director Christine King sold 562 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $49.75, for a total value of $27,959.50. Following the completion of the sale, the director now owns 11,744 shares of the company’s stock, valued at approximately $584,264. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Bradley J. Fluke sold 7,325 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $53.44, for a total transaction of $391,448.00. Following the completion of the sale, the vice president now directly owns 12,000 shares of the company’s stock, valued at approximately $641,280. The disclosure for this sale can be found here. Insiders sold a total of 18,443 shares of company stock valued at $992,631 in the last ninety days. Corporate insiders own 1.92% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in CRUS. Fortaleza Asset Management Inc. purchased a new stake in shares of Cirrus Logic in the 2nd quarter worth approximately $102,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in Cirrus Logic by 72.2% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,590 shares of the semiconductor company’s stock valued at $138,000 after acquiring an additional 1,086 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its position in Cirrus Logic by 96.2% during the third quarter. DekaBank Deutsche Girozentrale now owns 2,798 shares of the semiconductor company’s stock valued at $157,000 after acquiring an additional 1,372 shares during the last quarter. ETRADE Capital Management LLC purchased a new stake in Cirrus Logic during the second quarter valued at approximately $201,000. Finally, Sapphire Star Partners LP purchased a new stake in Cirrus Logic during the third quarter valued at approximately $211,000. 89.25% of the stock is owned by hedge funds and other institutional investors.
Cirrus Logic Company Profile
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.
To view Vetr’s full report, visit Vetr’s official website.
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