Cirrus Logic (CRUS) Stock Rating Upgraded by ValuEngine

Cirrus Logic (NASDAQ:CRUS) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Friday.

Several other research firms also recently issued reports on CRUS. Northland Securities reaffirmed a “buy” rating on shares of Cirrus Logic in a research note on Friday, November 3rd. Needham & Company LLC reissued a “buy” rating and issued a $80.00 target price on shares of Cirrus Logic in a research note on Friday, November 3rd. 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 research note on Friday, November 3rd. Zacks Investment Research downgraded shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $76.00 target price on shares of Cirrus Logic in a research note on Friday, November 3rd. Five equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. Cirrus Logic has a consensus rating of “Hold” and a consensus price target of $60.92.

Cirrus Logic (NASDAQ:CRUS) traded up $2.11 during trading hours on Friday, hitting $42.38. The stock had a trading volume of 2,386,290 shares, compared to its average volume of 1,320,000. The firm has a market cap of $2,700.00, a P/E ratio of 15.24, a PEG ratio of 1.13 and a beta of -0.02. Cirrus Logic has a fifty-two week low of $39.51 and a fifty-two week high of $71.97.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results on Monday, February 5th. The semiconductor company reported $1.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.78 by ($0.19). The firm had revenue of $482.70 million for the quarter, compared to analyst estimates of $530.99 million. Cirrus Logic had a return on equity of 22.60% and a net margin of 11.89%. The company’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period last year, the firm earned $1.87 EPS. equities analysts expect that Cirrus Logic will post 4.12 earnings per share for the current fiscal year.

Cirrus Logic declared that its board has approved a share buyback plan on Monday, February 5th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the semiconductor company to reacquire shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

In other news, Director Christine King sold 562 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $49.75, for a total transaction of $27,959.50. Following the completion of the transaction, the director now owns 11,744 shares of the company’s stock, valued at approximately $584,264. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders have sold 6,140 shares of company stock valued at $328,552. Corporate insiders own 1.92% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Cirrus Logic by 72.2% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,590 shares of the semiconductor company’s stock valued at $138,000 after acquiring an additional 1,086 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of Cirrus Logic by 96.2% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 2,798 shares of the semiconductor company’s stock valued at $157,000 after acquiring an additional 1,372 shares during the last quarter. Capital Fund Management S.A. acquired a new position in shares of Cirrus Logic during the 4th quarter valued at about $200,000. Sapphire Star Partners LP acquired a new position in shares of Cirrus Logic during the 3rd quarter valued at about $211,000. Finally, Rational Advisors LLC acquired a new position in shares of Cirrus Logic during the 3rd quarter valued at about $213,000. 89.58% of the stock is owned by 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Cirrus Logic (NASDAQ:CRUS)

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