Cirrus Logic Inc. (CRUS) Set to Announce Earnings on Wednesday

Cirrus Logic Inc. (NASDAQ:CRUS) will be releasing its earnings data after the market closes on Wednesday, July 27th.

Shares of Cirrus Logic Inc. (NASDAQ:CRUS) traded up 1.42% during mid-day trading on Tuesday, reaching $40.75. The company had a trading volume of 1,492,561 shares. The firm has a market capitalization of $2.54 billion and a price-to-earnings ratio of 21.79. Cirrus Logic Inc. has a one year low of $24.56 and a one year high of $41.77. The stock has a 50 day moving average of $38.39 and a 200-day moving average of $34.94.

In other Cirrus Logic news, VP Randolph K. Carlson sold 12,120 shares of the business’s stock in a transaction dated Monday, May 2nd. The shares were sold at an average price of $36.22, for a total value of $438,986.40. Following the transaction, the vice president now owns 19,385 shares in the company, valued at $702,124.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Timothy R. Dehne sold 6,462 shares of the business’s stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $35.30, for a total transaction of $228,108.60. Following the completion of the transaction, the director now owns 23,962 shares in the company, valued at approximately $845,858.60. The disclosure for this sale can be found here.

Several analysts have recently weighed in on CRUS shares. Pacific Crest restated a “buy” rating and set a $40.00 price objective on shares of Cirrus Logic in a research report on Thursday, April 14th. Stifel Nicolaus restated a “buy” rating and set a $46.00 price objective (up previously from $44.00) on shares of Cirrus Logic in a research report on Wednesday, June 1st. Needham & Company LLC restated a “buy” rating on shares of Cirrus Logic in a research report on Wednesday, April 27th. Canaccord Genuity restated a “buy” rating and set a $52.00 price objective on shares of Cirrus Logic in a research report on Tuesday, July 12th. Finally, Barclays PLC cut shares of Cirrus Logic from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $37.00 to $35.00 in a research report on Thursday, May 5th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $43.55.

Cirrus Logic, Inc (Cirrus Logic) develops high-precision, analog and mixed-signal integrated circuits (ICs) for a range of audio and energy markets. Cirrus Logic delivers products for consumer and professional audio, automotive entertainment, and targeted industrial applications including energy control, energy measurement, light emitting diode (LED) lighting and energy exploration.