Cirrus Logic (NASDAQ:CRUS) Lowered to “Sell” at BidaskClub

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Cirrus Logic (NASDAQ:CRUS) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday, September 18th.

A number of other equities analysts have also recently issued reports on CRUS. Zacks Investment Research upgraded shares of Cirrus Logic from a “sell” rating to a “hold” rating in a research report on Tuesday, July 3rd. Susquehanna Bancshares lifted their price target on shares of Cirrus Logic from $45.00 to $59.00 and gave the stock a “positive” rating in a report on Thursday, August 2nd. Cowen lifted their price target on shares of Cirrus Logic from $40.00 to $44.00 and gave the stock a “market perform” rating in a report on Thursday, August 2nd. ValuEngine upgraded shares of Cirrus Logic from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 25th. Finally, Craig Hallum lifted their price target on shares of Cirrus Logic from $43.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, August 2nd. Five research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. Cirrus Logic presently has an average rating of “Hold” and a consensus target price of $53.24.

CRUS traded up $0.44 during midday trading on Tuesday, reaching $35.29. 1,062,023 shares of the company’s stock were exchanged, compared to its average volume of 1,160,207. The stock has a market cap of $2.36 billion, a P/E ratio of 9.56, a PEG ratio of 0.97 and a beta of 0.41. Cirrus Logic has a 1-year low of $34.49 and a 1-year high of $58.80.

Cirrus Logic (NASDAQ:CRUS) last announced its earnings results on Wednesday, August 1st. The semiconductor company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.36. The company had revenue of $254.48 million during the quarter, compared to analysts’ expectations of $231.38 million. Cirrus Logic had a net margin of 7.83% and a return on equity of 17.46%. The firm’s quarterly revenue was down 20.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.81 earnings per share. Research analysts predict that Cirrus Logic will post 2.66 earnings per share for the current fiscal year.

In related news, Director Timothy R. Dehne sold 4,171 shares of the business’s stock in a transaction that occurred on Sunday, August 26th. The shares were sold at an average price of $44.99, for a total value of $187,653.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.32% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can lifted its position in Cirrus Logic by 88.7% during the third quarter. Bank of Montreal Can now owns 3,388 shares of the semiconductor company’s stock valued at $131,000 after buying an additional 1,593 shares in the last quarter. Fox Run Management L.L.C. lifted its position in Cirrus Logic by 139.1% during the third quarter. Fox Run Management L.L.C. now owns 13,473 shares of the semiconductor company’s stock valued at $520,000 after buying an additional 7,839 shares in the last quarter. Royal London Asset Management Ltd. acquired a new position in Cirrus Logic during the second quarter valued at approximately $2,388,000. WINTON GROUP Ltd lifted its position in Cirrus Logic by 64.1% during the second quarter. WINTON GROUP Ltd now owns 84,483 shares of the semiconductor company’s stock valued at $3,238,000 after buying an additional 33,008 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its position in Cirrus Logic by 185.4% during the second quarter. Advisors Asset Management Inc. now owns 67,687 shares of the semiconductor company’s stock valued at $805,000 after buying an additional 43,973 shares in the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Cirrus Logic Company Profile

Cirrus Logic, Inc, a fabless semiconductor company, develops, manufactures, and markets analog and mixed-signal integrated circuits (ICs) for a range of consumer and industrial markets. The company offers portable and non-portable audio, and other products. Its products include analog and mixed-signal audio converters, and digital signal processing products for mobile applications; codecs-chips that integrate analog-to-digital converters and digital-to-analog converters into a single IC; smart codecs, a codec with digital signal processer; boosted amplifiers; micro-electromechanical systems microphones; digital interface products; and standalone digital signal processors.

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Analyst Recommendations for Cirrus Logic (NASDAQ:CRUS)

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