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

Cirrus Logic (NASDAQ:CRUS) was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Tuesday.

Other research analysts also recently issued reports about the company. KeyCorp lifted 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. Barclays upped their target price on shares of Cirrus Logic from $110.00 to $140.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Susquehanna increased their price target on shares of Cirrus Logic from $120.00 to $175.00 and gave the company a “positive” rating in a report on Wednesday, July 17th. Finally, Stifel Nicolaus boosted their price objective on shares of Cirrus Logic from $110.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. One 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. Based on data from MarketBeat.com, Cirrus Logic presently has an average rating of “Buy” and a consensus target price of $143.33.

Cirrus Logic Stock Up 1.7 %

NASDAQ:CRUS opened at $121.03 on Tuesday. The company’s 50 day moving average is $131.56 and its 200-day moving average is $117.06. The firm has a market cap of $6.47 billion, a price-to-earnings ratio of 24.55 and a beta of 0.97. Cirrus Logic has a 12 month low of $65.02 and a 12 month high of $147.46.

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

Insider Transactions at Cirrus Logic

In related news, VP Andrew Brannan sold 4,350 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $136.04, for a total value of $591,774.00. Following the sale, the vice president now owns 4,004 shares of the company’s stock, valued at $544,704.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Cirrus Logic news, SVP Justin E. Dougherty sold 10,203 shares of the stock in a transaction 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 transaction, the senior vice president now directly owns 4,838 shares in the company, valued at $637,212.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Andrew Brannan sold 4,350 shares of Cirrus Logic stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $136.04, for a total value of $591,774.00. Following the transaction, the vice president now directly owns 4,004 shares of the company’s stock, valued at $544,704.16. The disclosure for this sale can be found here. 1.02% of the stock is owned by insiders.

Institutional Investors Weigh In On Cirrus Logic

A number of hedge funds have recently made changes to their positions in CRUS. Versant Capital Management Inc grew its stake in Cirrus Logic by 1,911.1% during the second 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 last quarter. Atlas Capital Advisors LLC increased its holdings in Cirrus Logic by 103.0% during the 1st quarter. Atlas Capital Advisors LLC now owns 402 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 204 shares in the last quarter. GAMMA Investing LLC increased its holdings in Cirrus Logic by 79.5% during the 2nd quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company’s stock valued at $61,000 after purchasing an additional 210 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new position in Cirrus Logic in the second quarter worth $77,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Cirrus Logic by 52.1% during the second 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 during the last quarter. Institutional investors and hedge funds 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.