Cirrus Logic Sees Unusually Large Options Volume (CRUS)
Shares of Cirrus Logic (NASDAQ:CRUS) was the target of some unusual options trading on Friday. Stock investors acquired 3,602 put options on the company, StockRatingsNetwork.com reports. This is an increase of 140% compared to the typical volume of 1,500 put options.
In other Cirrus Logic news, VP Thomas Stein unloaded 4,500 shares of Cirrus Logic stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $20.10, for a total value of $90,450.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on CRUS. Analysts at Oppenheimer downgraded shares of Cirrus Logic from a “market perform” rating to an “underperform” rating in a research note to investors on Monday, December 16th. Separately, analysts at Sterne Agee cut their price target on shares of Cirrus Logic from $28.00 to $24.00 in a research note to investors on Tuesday, November 12th. They now have a “buy” rating on the stock. Finally, analysts at Needham & Company cut their EPS estimates on shares of Cirrus Logic in a research note on Monday. They now have a “buy” rating and a $26.00 price target on the stock. They previously had a $28.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $24.41.
Shares of Cirrus Logic (NASDAQ:CRUS) traded down 2.58% on Friday, hitting $19.62. 2,204,723 shares of the company’s stock traded hands. Cirrus Logic has a 52 week low of $16.46 and a 52 week high of $31.97. The stock’s 50-day moving average is $19.94 and its 200-day moving average is $20.84. The company has a market cap of $1.246 billion and a P/E ratio of 9.06.
Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.24. The company had revenue of $190.70 million for the quarter, compared to the consensus estimate of $181.68 million. During the same quarter in the previous year, the company posted $0.79 earnings per share. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, analysts predict that Cirrus Logic will post $2.65 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.