Several brokerages have updated their recommendations and price targets on shares of Cirrus Logic (NASDAQ: CRUS) in the last few weeks:

  • 8/7/2017 – Cirrus Logic was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $64.00 price target on the stock. According to Zacks, “Cirrus Logic Inc. is a premier supplier of high performance analog circuits and advanced mixed-signal chip solutions. The company’s products, sold under its own name and the Crystal product brand, enable system-level applications in mass storage, audio and precision data conversion. (PRESS RELEASE) “
  • 8/3/2017 – Cirrus Logic was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $66.67 price target on the stock.
  • 8/3/2017 – Cirrus Logic had its “buy” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $75.00 price target on the stock.
  • 8/2/2017 – Cirrus Logic was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 7/18/2017 – Cirrus Logic was downgraded by analysts at Barclays PLC from an “equal weight” rating to an “underweight” rating. They now have a $55.00 price target on the stock.
  • 7/12/2017 – Cirrus Logic had its “overweight” rating reaffirmed by analysts at KeyCorp. They now have a $75.00 price target on the stock.
  • 6/21/2017 – Cirrus Logic had its “overweight” rating reaffirmed by analysts at Pacific Crest. They now have a $75.00 price target on the stock.

Shares of Cirrus Logic, Inc. (CRUS) opened at 57.55 on Tuesday. Cirrus Logic, Inc. has a one year low of $47.01 and a one year high of $71.97. The stock has a 50 day moving average of $63.83 and a 200-day moving average of $61.54. The stock has a market capitalization of $3.69 billion, a PE ratio of 13.46 and a beta of 0.01.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings results on Wednesday, August 2nd. The semiconductor company reported $0.81 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.15. Cirrus Logic had a net margin of 17.38% and a return on equity of 26.71%. The company had revenue of $320.70 million for the quarter, compared to the consensus estimate of $320.32 million. During the same period last year, the firm posted $0.44 EPS. The company’s revenue for the quarter was up 23.6% on a year-over-year basis. Equities analysts predict that Cirrus Logic, Inc. will post $4.69 earnings per share for the current fiscal year.

In other news, VP Scott Arnold Anderson sold 17,466 shares of the firm’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $64.20, for a total value of $1,121,317.20. Following the transaction, the vice president now directly owns 24,432 shares in the company, valued at approximately $1,568,534.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William D. Sherman sold 1,378 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $61.84, for a total transaction of $85,215.52. Following the completion of the transaction, the director now owns 7,307 shares in the company, valued at $451,864.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,777 shares of company stock worth $2,689,055. Insiders own 1.92% of the company’s stock.

Cirrus Logic, Inc is engaged in providing integrated circuits (ICs) for audio and voice signal processing applications. The Company develops analog and mixed-signal ICs for a range of customers. The Company offers two product lines: Portable Audio, and Non-Portable Audio and Other. The Company’s primary facility housing engineering, sales and marketing, and administration functions is located in Austin, Texas.

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