Cirrus Logic (NASDAQ:CRUS) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

Other equities research analysts have also recently issued research reports about the stock. Northland Securities reiterated a “buy” rating on shares of Cirrus Logic in a research note on Friday, November 3rd. Canaccord Genuity reiterated a “buy” rating and issued a $76.00 target price on shares of Cirrus Logic in a research note on Tuesday, September 19th. ValuEngine cut shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Monday, September 18th. Stifel Nicolaus reiterated a “buy” rating on shares of Cirrus Logic in a research note on Wednesday, September 13th. Finally, KeyCorp reiterated an “overweight” rating on shares of Cirrus Logic in a research note on Thursday, September 14th. Five analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $65.76.

Cirrus Logic (CRUS) traded up $0.50 during mid-day trading on Thursday, reaching $52.84. 531,700 shares of the company’s stock were exchanged, compared to its average volume of 885,385. Cirrus Logic has a one year low of $48.61 and a one year high of $71.97. The company has a market capitalization of $3,360.00 and a PE ratio of 12.92.

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

In related news, Director Christine King sold 562 shares of the stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $49.75, for a total value of $27,959.50. Following the completion of the transaction, the director now owns 11,744 shares of the company’s stock, valued at $584,264. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 11,123 shares of company stock valued at $601,268 in the last three months. Company insiders own 1.92% of the company’s stock.

A number of large investors have recently bought and sold shares of CRUS. Old Mutual Global Investors UK Ltd. raised its position in Cirrus Logic by 187.2% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 870,484 shares of the semiconductor company’s stock worth $46,414,000 after purchasing an additional 567,354 shares in the last quarter. Koch Industries Inc. increased its holdings in shares of Cirrus Logic by 3,884.7% during the second quarter. Koch Industries Inc. now owns 494,467 shares of the semiconductor company’s stock worth $487,000 after buying an additional 482,058 shares in the last quarter. Prudential Financial Inc. increased its holdings in shares of Cirrus Logic by 69.6% during the third quarter. Prudential Financial Inc. now owns 967,033 shares of the semiconductor company’s stock worth $51,562,000 after buying an additional 396,890 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Cirrus Logic by 111.7% during the second quarter. JPMorgan Chase & Co. now owns 565,509 shares of the semiconductor company’s stock worth $35,470,000 after buying an additional 298,388 shares in the last quarter. Finally, Teachers Advisors LLC increased its holdings in shares of Cirrus Logic by 230.6% during the second quarter. Teachers Advisors LLC now owns 397,156 shares of the semiconductor company’s stock worth $24,910,000 after buying an additional 277,015 shares in the last quarter. 89.25% 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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