Cirrus Logic (NASDAQ:CRUS) Stock Rating Lowered by StockNews.com

Cirrus Logic (NASDAQ:CRUS) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Wednesday.

A number of other equities research analysts have also commented on CRUS. Stifel Nicolaus dropped their price target on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a research report on Tuesday. Barclays reduced their target price on Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating for the company in a research note on Tuesday. Susquehanna reduced their price target on Cirrus Logic from $160.00 to $135.00 and set a “positive” rating for the company in a research note on Tuesday. Finally, KeyCorp increased 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. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $132.00.

Cirrus Logic Stock Up 1.3 %

Cirrus Logic stock traded up $1.32 during mid-day trading on Wednesday, hitting $104.11. 1,085,050 shares of the company were exchanged, compared to its average volume of 506,333. The business has a fifty day moving average of $124.88 and a 200 day moving average of $122.24. The company has a market capitalization of $5.56 billion, a PE ratio of 19.24 and a beta of 0.96. Cirrus Logic has a 1-year low of $69.23 and a 1-year high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings results on Monday, November 4th. The semiconductor company reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.23. The business had revenue of $541.90 million for the quarter, compared to analysts’ expectations of $520.53 million. Cirrus Logic had a return on equity of 17.42% and a net margin of 16.31%. The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.43 earnings per share. Research analysts expect that Cirrus Logic will post 5.37 earnings per share for the current year.

Insider Transactions at Cirrus Logic

In related news, SVP Justin E. Dougherty sold 10,203 shares of the firm’s 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 completion of the sale, the senior vice president now owns 4,838 shares of the company’s stock, valued at $637,212.98. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, VP Andrew Brannan sold 4,350 shares of Cirrus Logic 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 transaction, the vice president now owns 4,004 shares of the company’s stock, valued at $544,704.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Justin E. Dougherty sold 10,203 shares of Cirrus Logic 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 sale, the senior vice president now owns 4,838 shares in the company, valued at $637,212.98. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.02% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets lifted its holdings in Cirrus Logic by 19.8% during the 1st quarter. BNP Paribas Financial Markets now owns 75,315 shares of the semiconductor company’s stock worth $6,971,000 after purchasing an additional 12,443 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of Cirrus Logic in the 1st quarter valued at approximately $275,000. Texas Permanent School Fund Corp increased its position in Cirrus Logic by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 47,203 shares of the semiconductor company’s stock valued at $4,369,000 after buying an additional 643 shares in the last quarter. John G Ullman & Associates Inc. bought a new position in Cirrus Logic during the 1st quarter valued at approximately $366,000. Finally, LSV Asset Management increased its holdings in shares of Cirrus Logic by 8.3% in the 1st quarter. LSV Asset Management now owns 1,404,407 shares of the semiconductor company’s stock worth $129,992,000 after purchasing an additional 107,888 shares in the last quarter. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Cirrus Logic Company Profile

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.