Cirrus Logic, Inc. (NASDAQ:CRUS) has been assigned a consensus recommendation of “Buy” from the eighteen ratings firms that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation, ten have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $65.74.

CRUS has been the topic of several research analyst reports. Northland Securities restated a “buy” rating on shares of Cirrus Logic in a research report on Friday, November 3rd. Canaccord Genuity restated a “buy” rating and set a $76.00 target price on shares of Cirrus Logic in a research report on Tuesday, September 19th. ValuEngine lowered Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Monday, September 18th. Stifel Nicolaus restated a “buy” rating on shares of Cirrus Logic in a research report on Wednesday, September 13th. Finally, KeyCorp restated an “overweight” rating on shares of Cirrus Logic in a research report on Thursday, September 14th.

Shares of Cirrus Logic (NASDAQ CRUS) opened at $49.79 on Thursday. Cirrus Logic has a 52-week low of $48.61 and a 52-week high of $71.97. The company has a market capitalization of $3,208.08, a PE ratio of 11.51, a P/E/G ratio of 1.32 and a beta of 0.01.

Cirrus Logic (NASDAQ:CRUS) last announced its earnings results on Thursday, November 2nd. The semiconductor company reported $1.36 EPS for the quarter, beating the consensus estimate of $1.20 by $0.16. Cirrus Logic had a return on equity of 25.37% and a net margin of 17.11%. The company had revenue of $425.50 million for the quarter, compared to analyst estimates of $410.32 million. During the same quarter in the prior year, the company earned $1.35 EPS. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. equities analysts forecast that Cirrus Logic will post 4.21 earnings per share for the current year.

In other news, VP Bradley J. Fluke sold 7,325 shares of the stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $53.44, for a total value of $391,448.00. Following the completion of the sale, the vice president now directly owns 12,000 shares of the company’s stock, valued at $641,280. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Christine King sold 5,000 shares of the stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $57.42, for a total value of $287,100.00. Following the completion of the sale, the director now directly owns 16,182 shares of the company’s stock, valued at $929,170.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,881 shares of company stock valued at $1,251,772. Company insiders own 1.92% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Fortaleza Asset Management Inc. purchased a new stake in shares of Cirrus Logic in the second quarter worth approximately $102,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of Cirrus Logic by 72.2% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,590 shares of the semiconductor company’s stock worth $138,000 after purchasing an additional 1,086 shares during the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of Cirrus Logic by 96.2% in the third quarter. DekaBank Deutsche Girozentrale now owns 2,798 shares of the semiconductor company’s stock worth $157,000 after purchasing an additional 1,372 shares during the last quarter. ETRADE Capital Management LLC purchased a new stake in shares of Cirrus Logic in the second quarter worth approximately $201,000. Finally, Sapphire Star Partners LP purchased a new stake in shares of Cirrus Logic in the third quarter worth approximately $211,000. 89.26% of the stock is owned by hedge funds and other institutional investors.

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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)

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