Cirrus Logic (CRUS) Stock Rating Upgraded by TheStreet

Cirrus Logic (NASDAQ:CRUS) was upgraded by equities research analysts at TheStreet from a “c+” rating to a “b-” rating in a research report issued on Thursday.

Several other equities research analysts have also commented on the stock. Craig Hallum reissued a “buy” rating and issued a $47.00 price target (down previously from $51.00) on shares of Cirrus Logic in a report on Friday, November 2nd. ValuEngine raised shares of Cirrus Logic from a “sell” rating to a “hold” rating in a report on Thursday, November 1st. BidaskClub raised shares of Cirrus Logic from a “strong sell” rating to a “sell” rating in a report on Thursday, October 18th. Zacks Investment Research raised shares of Cirrus Logic from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a report on Tuesday, August 7th. Finally, Susquehanna Bancshares boosted their price target on shares of Cirrus Logic from $45.00 to $59.00 and gave the stock a “positive” rating in a report on Thursday, August 2nd. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $47.88.

Shares of NASDAQ:CRUS traded down $1.04 during trading on Thursday, hitting $41.37. 636,501 shares of the stock traded hands, compared to its average volume of 968,220. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of 11.21, a price-to-earnings-growth ratio of 1.13 and a beta of 0.45. Cirrus Logic has a 52-week low of $34.49 and a 52-week high of $57.55.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings results on Thursday, November 1st. The semiconductor company reported $1.08 EPS for the quarter, topping the consensus estimate of $0.74 by $0.34. The company had revenue of $366.30 million during the quarter, compared to analyst estimates of $330.27 million. Cirrus Logic had a net margin of 7.09% and a return on equity of 15.55%. The firm’s revenue was down 13.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.36 EPS. As a group, equities research analysts forecast that Cirrus Logic will post 2.44 EPS for the current year.

In other news, Director Timothy R. Dehne sold 4,171 shares of the company’s stock in a transaction on Sunday, August 26th. The shares were sold at an average price of $44.99, for a total transaction of $187,653.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.32% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in CRUS. Legal & General Group Plc grew its holdings in shares of Cirrus Logic by 11.1% during the first quarter. Legal & General Group Plc now owns 65,256 shares of the semiconductor company’s stock worth $2,651,000 after buying an additional 6,495 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of Cirrus Logic by 24.4% during the first quarter. Royal Bank of Canada now owns 55,287 shares of the semiconductor company’s stock worth $2,246,000 after buying an additional 10,852 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Cirrus Logic by 1.7% during the first quarter. Principal Financial Group Inc. now owns 278,633 shares of the semiconductor company’s stock worth $11,321,000 after buying an additional 4,572 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of Cirrus Logic during the second quarter worth $216,000. Finally, Aurora Investment Counsel grew its holdings in shares of Cirrus Logic by 2.4% during the second quarter. Aurora Investment Counsel now owns 53,598 shares of the semiconductor company’s stock worth $2,054,000 after buying an additional 1,270 shares in the last quarter. 89.21% of the stock is owned by institutional investors and hedge funds.

Cirrus Logic Company Profile

Cirrus Logic, Inc, a fabless semiconductor company, develops, manufactures, and markets analog and mixed-signal integrated circuits (ICs) for a range of consumer and industrial markets. The company offers portable and non-portable audio, and other products. Its products include analog and mixed-signal audio converters, and digital signal processing products for mobile applications; codecs-chips that integrate analog-to-digital converters and digital-to-analog converters into a single IC; smart codecs, a codec with digital signal processer; boosted amplifiers; micro-electromechanical systems microphones; digital interface products; and standalone digital signal processors.

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Analyst Recommendations for Cirrus Logic (NASDAQ:CRUS)

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