Cirrus Logic (NASDAQ:CRUS) Upgraded by StockNews.com to Strong-Buy

StockNews.com upgraded shares of Cirrus Logic (NASDAQ:CRUSFree Report) from a buy rating to a strong-buy rating in a report released on Tuesday.

Other equities research analysts also recently issued reports about the company. KeyCorp lifted their target price on Cirrus Logic from $155.00 to $165.00 and gave the stock an overweight rating in a report on Wednesday, August 7th. Stifel Nicolaus raised their price objective on Cirrus Logic from $110.00 to $165.00 and gave the company a buy rating in a research note on Thursday, July 18th. Barclays raised their price objective on Cirrus Logic from $110.00 to $140.00 and gave the company an overweight rating in a research note on Wednesday, August 7th. Finally, Susquehanna raised their price objective on Cirrus Logic from $120.00 to $175.00 and gave the company a positive rating in a research note on Wednesday, July 17th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Buy and a consensus target price of $143.33.

Get Our Latest Stock Analysis on CRUS

Cirrus Logic Price Performance

Shares of CRUS opened at $118.87 on Tuesday. The company has a market capitalization of $6.35 billion, a price-to-earnings ratio of 24.11 and a beta of 0.96. The business has a 50-day moving average of $131.39 and a 200-day moving average of $117.09. Cirrus Logic has a 1 year low of $65.02 and a 1 year high of $147.46.

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

Insider Activity at Cirrus Logic

In related news, SVP Justin E. Dougherty sold 10,203 shares of Cirrus Logic stock in a transaction that occurred on 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 transaction, the senior vice president now owns 4,838 shares of the company’s stock, valued at $637,212.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Cirrus Logic news, SVP Justin E. Dougherty sold 10,203 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $131.71, for a total value of $1,343,837.13. Following the transaction, the senior vice president now owns 4,838 shares of the company’s stock, valued at $637,212.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Andrew Brannan sold 4,350 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $136.04, for a total value of $591,774.00. Following the completion of the transaction, the vice president now directly owns 4,004 shares in the company, valued at approximately $544,704.16. The disclosure for this sale can be found here. 1.02% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Atlas Capital Advisors LLC boosted its position in 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 during the last quarter. Versant Capital Management Inc raised 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 valued at $46,000 after buying an additional 344 shares during the period. GAMMA Investing LLC raised 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 valued at $61,000 after buying an additional 210 shares during the period. 1620 Investment Advisors Inc. bought a new stake in shares of Cirrus Logic in the second quarter valued at $77,000. Finally, Northwestern Mutual Wealth Management Co. raised 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 valued at $123,000 after buying an additional 329 shares during the period. Hedge funds and other institutional investors own 87.96% of the company’s stock.

About Cirrus Logic

(Get Free Report)

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.

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