Northland Securities Reiterates “Buy” Rating for Cirrus Logic, Inc. (CRUS)
Cirrus Logic, Inc. (NASDAQ:CRUS)‘s stock had its “buy” rating restated by Northland Securities in a research report issued to clients and investors on Friday.
A number of other equities analysts have also weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $80.00 price objective on shares of Cirrus Logic in a research report on Friday. Craig Hallum reissued a “hold” rating and issued a $54.00 target price (down previously from $63.00) on shares of Cirrus Logic in a report on Friday. Zacks Investment Research downgraded Cirrus Logic from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. ValuEngine raised Cirrus Logic from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Finally, Canaccord Genuity reissued a “buy” rating and issued a $76.00 target price on shares of Cirrus Logic in a report on Tuesday, September 19th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $67.05.
Cirrus Logic (NASDAQ:CRUS) traded up $0.70 during trading hours on Friday, reaching $56.42. 2,027,782 shares of the company were exchanged, compared to its average volume of 812,389. Cirrus Logic has a 1 year low of $49.05 and a 1 year high of $71.97. The stock has a market cap of $3,591.98, a price-to-earnings ratio of 12.88, a price-to-earnings-growth ratio of 1.03 and a beta of 0.05.
Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings data on Thursday, November 2nd. The semiconductor company reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.16. Cirrus Logic had a net margin of 17.11% and a return on equity of 25.71%. The firm had revenue of $425.50 million for the quarter, compared to analyst estimates of $410.32 million. During the same period last year, the firm posted $1.35 EPS. Cirrus Logic’s quarterly revenue was down .7% on a year-over-year basis. equities analysts forecast that Cirrus Logic will post 4.25 EPS for the current year.
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In other news, Director Alan R. Schuele sold 2,000 shares of Cirrus Logic stock in a transaction on Monday, August 7th. The stock was sold at an average price of $57.30, for a total transaction of $114,600.00. Following the completion of the transaction, the director now owns 14,165 shares of the company’s stock, valued at approximately $811,654.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Christine King sold 5,000 shares of Cirrus Logic stock in a transaction on Monday, October 16th. The stock was sold at an average price of $54.51, for a total value of $272,550.00. Following the transaction, the director now directly owns 16,182 shares of the company’s stock, valued at approximately $882,080.82. The disclosure for this sale can be found here. Insiders have sold a total of 108,309 shares of company stock valued at $6,101,096 in the last ninety days. Corporate insiders own 1.92% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Fortaleza Asset Management Inc. acquired a new position in shares of Cirrus Logic during the 2nd quarter worth $102,000. ETRADE Capital Management LLC acquired a new position in Cirrus Logic in the 2nd quarter valued at about $201,000. Private Advisor Group LLC acquired a new position in Cirrus Logic in the 2nd quarter valued at about $215,000. Turner Investments LLC acquired a new position in Cirrus Logic in the 2nd quarter valued at about $220,000. Finally, Sheaff Brock Investment Advisors LLC acquired a new position in Cirrus Logic in the 2nd quarter valued at about $248,000. 89.48% of the stock is owned by institutional investors and hedge funds.
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.
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