Cirrus Logic Target of Unusually High Options Trading (CRUS)
Cirrus Logic (NASDAQ:CRUS) saw some unusual options trading on Wednesday. Traders bought 9,799 put options on the stock, StockRatingsNetwork reports. This is an increase of 257% compared to the typical volume of 2,745 put options.
In other Cirrus Logic news, Director John Carter sold 15,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $22.95, for a total value of $344,250.00. Following the completion of the sale, the director now directly owns 14,026 shares of the company’s stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
A number of research firms have recently commented on CRUS. Analysts at Feltl & Co. upgraded shares of Cirrus Logic (NASDAQ:CRUS) from a “hold” rating to a “buy” rating in a research note to investors on Wednesday, August 28th. They now have a $26.00 price target on the stock, up previously from $20.00. Separately, analysts at Zacks upgraded shares of Cirrus Logic (NASDAQ:CRUS) from an “underperform” rating to a “neutral” rating in a research note to investors on Wednesday, July 31st. They now have a $20.00 price target on the stock. Finally, analysts at Canaccord Genuity reiterated a “hold” rating on shares of Cirrus Logic (NASDAQ:CRUS) in a research note to investors on Friday, July 26th. They now have a $18.00 price target on the stock.
Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $25.50.
Shares of Cirrus Logic (NASDAQ:CRUS) traded down 5.20% during mid-day trading on Wednesday, hitting $21.89. 5,636,818 shares of the company’s stock traded hands. Cirrus Logic has a 1-year low of $16.46 and a 1-year high of $45.35. The stock’s 50-day moving average is $20.80 and its 200-day moving average is $20.41. The company has a market cap of $1.389 billion and a price-to-earnings ratio of 10.41.
Cirrus Logic (NASDAQ:CRUS) last released its earnings data on Thursday, July 25th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.07. The company had revenue of $155.00 million for the quarter, compared to the consensus estimate of $160.12 million. During the same quarter in the previous year, the company posted $0.22 earnings per share. The company’s revenue for the quarter was up 56.6% on a year-over-year basis. On average, analysts predict that Cirrus Logic will post $2.36 earnings per share for the current fiscal year.
Cirrus Logic, Inc is a United States-based company, which supplies high-precision analog and digital signal processing components for audio and energy markets.
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