Cirrus Logic (NASDAQ:CRUS) Raised to Strong-Buy at StockNews.com

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

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

Cirrus Logic Stock Down 1.8 %

Shares of CRUS stock opened at $118.87 on Tuesday. Cirrus Logic has a 12-month low of $65.02 and a 12-month high of $147.46. The firm has a market capitalization of $6.35 billion, a price-to-earnings ratio of 24.11 and a beta of 0.96. The firm has a fifty day moving average of $131.39 and a 200-day moving average of $117.09.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.50. Cirrus Logic had a net margin of 16.31% and a return on equity of 17.42%. The company had revenue of $374.03 million during the quarter, compared to analyst estimates of $318.41 million. During the same quarter in the previous year, the business earned $0.35 EPS. The firm’s revenue was up 18.0% on a year-over-year basis. Research analysts expect that Cirrus Logic will post 5.26 earnings per share for the current year.

Insider Transactions at Cirrus Logic

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc increased its position in Cirrus Logic by 1,911.1% during the 2nd quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company’s stock worth $46,000 after buying an additional 344 shares during the period. Atlas Capital Advisors LLC grew its holdings in shares of Cirrus Logic by 103.0% during the 1st quarter. Atlas Capital Advisors LLC now owns 402 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 204 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Cirrus Logic by 79.5% during the 2nd quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company’s stock worth $61,000 after purchasing an additional 210 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new stake in shares of Cirrus Logic during the 2nd quarter worth $77,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Cirrus Logic by 52.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 961 shares of the semiconductor company’s stock worth $123,000 after purchasing an additional 329 shares in 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.