Cirrus Logic, Inc. (NASDAQ:CRUS)‘s stock had its “overweight” rating reiterated by equities research analysts at KeyCorp in a research note issued to investors on Thursday.

Other equities analysts have also recently issued reports about the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $80.00 price target (up from $70.00) on shares of Cirrus Logic in a research note on Thursday, June 1st. Stifel Nicolaus boosted their price objective on shares of Cirrus Logic from $70.00 to $73.00 and gave the stock a “buy” rating in a research report on Wednesday, May 24th. BidaskClub lowered shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 2nd. Zacks Investment Research upgraded shares of Cirrus Logic from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research report on Monday, August 7th. Finally, Pacific Crest reiterated an “overweight” rating and issued a $75.00 price objective on shares of Cirrus Logic in a research report on Wednesday, June 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $68.59.

Cirrus Logic (CRUS) traded up 0.6311% during trading on Thursday, hitting $57.1786. 234,696 shares of the stock traded hands. The stock has a market cap of $3.65 billion and a P/E ratio of 13.3720. Cirrus Logic has a 52-week low of $48.91 and a 52-week high of $71.97. The company’s 50 day moving average price is $57.76 and its 200-day moving average price is $61.45.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings results on Wednesday, August 2nd. The semiconductor company reported $0.81 earnings per share 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 business had revenue of $320.70 million for the quarter, compared to analysts’ expectations of $320.32 million. During the same period in the prior year, the company posted $0.44 EPS. The business’s revenue for the quarter was up 23.6% on a year-over-year basis. Equities research analysts forecast that Cirrus Logic will post $4.74 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “Cirrus Logic, Inc. (CRUS) Earns Overweight Rating from KeyCorp” was posted by American Banking News and is the sole property of of American Banking News. If you are viewing this news story on another domain, it was copied illegally and reposted in violation of US and international copyright legislation. The original version of this news story can be viewed at https://www.americanbankingnews.com/2017/09/14/cirrus-logic-inc-crus-earns-overweight-rating-from-keycorp.html.

In other Cirrus Logic news, VP Andrew Brannan sold 21,504 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $55.10, for a total value of $1,184,870.40. Following the transaction, the vice president now directly owns 21,504 shares in the company, valued at approximately $1,184,870.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director William D. Sherman sold 1,378 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were 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 92,313 shares of company stock worth $5,235,918. 1.92% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in CRUS. Fortaleza Asset Management Inc. purchased a new position in Cirrus Logic in the 2nd quarter valued at about $102,000. Mckinley Capital Management LLC Delaware purchased a new position in Cirrus Logic in the 1st quarter valued at about $174,000. ETRADE Capital Management LLC purchased a new position in Cirrus Logic in the 2nd quarter valued at about $201,000. Private Advisor Group LLC purchased a new position in Cirrus Logic in the 2nd quarter valued at about $215,000. Finally, Turner Investments LLC purchased a new position in Cirrus Logic in the 2nd quarter valued at about $220,000. Institutional investors own 89.15% of the company’s stock.

Cirrus Logic Company Profile

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.

Analyst Recommendations for Cirrus Logic (NASDAQ:CRUS)

Receive News & Ratings for Cirrus Logic Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cirrus Logic Inc. and related companies with MarketBeat.com's FREE daily email newsletter.