Cirrus Logic Sees Unusually High Options Volume (CRUS)
Cirrus Logic (NASDAQ:CRUS) was the recipient of unusually large options trading activity on Friday. Traders purchased 9,839 put options on the company, AnalystRatingsNetwork reports. This is an increase of 187% compared to the average volume of 3,430 put options.
In other Cirrus Logic news, Director John Carter sold 15,000 shares of Cirrus Logic stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $22.95, for a total transaction of $344,250.00. Following the transaction, the director now directly owns 14,026 shares of the company’s stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Several analysts have recently commented on the stock. 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 analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $25.50.
Cirrus Logic (NASDAQ:CRUS) opened at 22.36 on Monday. Cirrus Logic has a 52-week low of $16.46 and a 52-week high of $44.80. The stock has a 50-day moving average of $21.00 and a 200-day moving average of $20.41. The company has a market cap of $1.419 billion and a P/E ratio of 9.99.
Cirrus Logic (NASDAQ:CRUS) last released its earnings data on Thursday, July 25th. The company reported $0.56 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.22 earnings per share. Cirrus Logic’s revenue was up 56.6% compared to the same quarter last year. 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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