Cirrus Logic (NASDAQ:CRUS) Downgraded by StockNews.com

StockNews.com cut shares of Cirrus Logic (NASDAQ:CRUS) from a strong-buy rating to a buy rating in a research note published on Saturday.

A number of other brokerages have also recently commented on CRUS. Stifel Nicolaus upped their target price on shares of Cirrus Logic from $95.00 to $100.00 and gave the company a buy rating in a report on Wednesday, February 7th. Barclays upped their price target on shares of Cirrus Logic from $90.00 to $95.00 and gave the stock an overweight rating in a research report on Tuesday, January 16th. TD Cowen upped their price target on shares of Cirrus Logic from $90.00 to $100.00 and gave the stock an outperform rating in a research report on Wednesday, February 7th. Susquehanna upped their price target on shares of Cirrus Logic from $85.00 to $100.00 and gave the stock a positive rating in a research report on Wednesday, February 7th. Finally, TheStreet upgraded shares of Cirrus Logic from a c+ rating to a b- rating in a research report on Tuesday, January 23rd. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of Buy and an average target price of $96.43.

Cirrus Logic Stock Up 3.0 %

CRUS opened at $84.47 on Friday. The firm has a 50 day moving average price of $90.31 and a 200-day moving average price of $81.85. Cirrus Logic has a twelve month low of $65.02 and a twelve month high of $95.87. The stock has a market capitalization of $4.55 billion, a price-to-earnings ratio of 26.82 and a beta of 1.00.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $2.53 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.83. Cirrus Logic had a net margin of 9.84% and a return on equity of 16.13%. The firm had revenue of $618.98 million during the quarter, compared to analysts’ expectations of $539.55 million. As a group, analysts expect that Cirrus Logic will post 4.79 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Justin E. Dougherty sold 3,280 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $91.40, for a total transaction of $299,792.00. Following the completion of the transaction, the senior vice president now owns 6,000 shares in the company, valued at $548,400. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Cirrus Logic news, SVP Justin E. Dougherty sold 3,280 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $91.40, for a total transaction of $299,792.00. Following the completion of the transaction, the senior vice president now owns 6,000 shares in the company, valued at $548,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Andrew Brannan sold 3,250 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $94.00, for a total transaction of $305,500.00. Following the transaction, the vice president now owns 6,055 shares of the company’s stock, valued at approximately $569,170. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,530 shares of company stock worth $700,292. 0.89% of the stock is owned by insiders.

Hedge Funds Weigh In On Cirrus Logic

Several institutional investors have recently bought and sold shares of CRUS. Mackenzie Financial Corp raised its stake in shares of Cirrus Logic by 1.5% in the fourth quarter. Mackenzie Financial Corp now owns 2,485,746 shares of the semiconductor company’s stock valued at $206,789,000 after acquiring an additional 35,722 shares during the period. UBS Group AG increased its stake in Cirrus Logic by 86.9% in the 3rd quarter. UBS Group AG now owns 61,811 shares of the semiconductor company’s stock worth $4,572,000 after buying an additional 28,735 shares during the period. FMR LLC increased its stake in Cirrus Logic by 4.5% in the 3rd quarter. FMR LLC now owns 7,552,630 shares of the semiconductor company’s stock worth $558,593,000 after buying an additional 327,269 shares during the period. Vanguard Group Inc. increased its stake in Cirrus Logic by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 6,299,658 shares of the semiconductor company’s stock worth $465,923,000 after buying an additional 105,577 shares during the period. Finally, LSV Asset Management increased its stake in Cirrus Logic by 0.9% in the 3rd quarter. LSV Asset Management now owns 1,307,419 shares of the semiconductor company’s stock worth $96,697,000 after buying an additional 12,300 shares during the period. 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 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 digital signal processing; boosted amplifiers; 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.