Cirrus Logic, Inc. (NASDAQ:CRUS)‘s stock had its “hold” rating reissued by equities research analysts at Craig Hallum in a note issued to investors on Wednesday.

Other equities research analysts have also issued research reports about the stock. Stifel Nicolaus reissued a “buy” rating and set a $75.00 price objective on shares of Cirrus Logic in a research note on Thursday, August 3rd. BidaskClub lowered shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 2nd. Zacks Investment Research raised 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 note on Monday, August 7th. Needham & Company LLC reissued a “buy” rating and set a $80.00 price objective (up previously from $70.00) on shares of Cirrus Logic in a research note on Thursday, June 1st. Finally, KeyCorp reissued an “overweight” rating on shares of Cirrus Logic in a research note on Thursday. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Cirrus Logic currently has a consensus rating of “Buy” and an average price target of $68.59.

Cirrus Logic (CRUS) traded up 0.51% during midday trading on Wednesday, hitting $57.11. 269,109 shares of the company were exchanged. Cirrus Logic has a 1-year low of $48.91 and a 1-year high of $71.97. The stock has a 50 day moving average of $57.76 and a 200 day moving average of $61.45. The firm has a market capitalization of $3.64 billion and a PE ratio of 13.36.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings data on Wednesday, August 2nd. The semiconductor company reported $0.81 EPS for the quarter, topping the 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 analyst estimates of $320.32 million. During the same quarter in the previous year, the firm posted $0.44 earnings per share. Cirrus Logic’s quarterly revenue was up 23.6% on a year-over-year basis. On average, equities analysts predict that Cirrus Logic will post $4.74 earnings per share for the current fiscal year.

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In other news, VP Andrew Brannan sold 21,504 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $55.10, for a total transaction of $1,184,870.40. Following the completion of the transaction, the vice president now directly owns 21,504 shares of the company’s stock, valued at $1,184,870.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William D. Sherman sold 1,378 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $61.84, for a total transaction of $85,215.52. Following the transaction, the director now directly owns 7,307 shares of the company’s stock, valued at $451,864.88. The disclosure for this sale can be found here. Insiders sold 92,313 shares of company stock valued at $5,235,918 over the last ninety days. Corporate insiders own 1.92% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRUS. BlackRock Inc. raised its holdings in shares of Cirrus Logic by 20,057.8% during the first quarter. BlackRock Inc. now owns 6,973,982 shares of the semiconductor company’s stock valued at $423,252,000 after purchasing an additional 6,939,385 shares during the last quarter. UBS Asset Management Americas Inc. raised its holdings in shares of Cirrus Logic by 4,831.0% during the first quarter. UBS Asset Management Americas Inc. now owns 1,299,314 shares of the semiconductor company’s stock valued at $78,855,000 after purchasing an additional 1,272,964 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Cirrus Logic by 103.5% during the first quarter. AQR Capital Management LLC now owns 2,015,030 shares of the semiconductor company’s stock valued at $122,292,000 after purchasing an additional 1,024,836 shares during the last quarter. LSV Asset Management raised its holdings in shares of Cirrus Logic by 27.3% during the second quarter. LSV Asset Management now owns 2,597,827 shares of the semiconductor company’s stock valued at $162,935,000 after purchasing an additional 557,048 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Cirrus Logic by 7.7% during the first quarter. Vanguard Group Inc. now owns 7,057,091 shares of the semiconductor company’s stock valued at $428,295,000 after purchasing an additional 502,335 shares during the last quarter. 89.15% of the stock is owned by hedge funds and other institutional investors.

About Cirrus Logic

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)

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