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.
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.
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