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Shares of Cirrus Logic (NASDAQ:CRUS) saw some unusual options trading activity on Tuesday. Investors bought 13,870 call options on the stock, Analyst Ratings.Net reports. This represents an increase of approximately 279% compared to the average volume of 3,656 call options.

CRUS has been the subject of a number of recent research reports. Analysts at Pacific Crest downgraded shares of Cirrus Logic from a “sector perform” rating to an “underperform” rating in a research note to investors on Wednesday, January 15th. Separately, analysts at Zacks upgraded shares of Cirrus Logic from a “neutral” rating to an “outperform” rating in a research note to investors on Tuesday, January 14th. They now have a $25.30 price target on the stock. Finally, 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. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. Cirrus Logic presently has an average rating of “Hold” and an average target price of $24.41.

Shares of Cirrus Logic (NASDAQ:CRUS) opened at 18.74 on Wednesday. Cirrus Logic has a 52-week low of $16.46 and a 52-week high of $28.88. The stock’s 50-day moving average is $19.85 and its 200-day moving average is $21.12. The company has a market cap of $1.190 billion and a P/E ratio of 8.83.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Monday, January 27th. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.12. The company had revenue of $218.90 million for the quarter, compared to the consensus estimate of $213.30 million. During the same quarter in the prior year, the company posted $1.64 earnings per share. The company’s quarterly revenue was down 29.4% on a year-over-year basis. On average, analysts predict that Cirrus Logic will post $2.64 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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