Cirrus Logic (NASDAQ:CRUS) Upgraded by StockNews.com to “Strong-Buy”

Cirrus Logic (NASDAQ:CRUS) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Friday.

A number of other analysts have also recently commented on the stock. TD Cowen upped their target price on shares of Cirrus Logic from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Stifel Nicolaus increased their price objective on shares of Cirrus Logic from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. TheStreet raised shares of Cirrus Logic from a “c+” rating to a “b-” rating in a research note on Tuesday, January 23rd. Susquehanna increased their price objective on shares of Cirrus Logic from $85.00 to $100.00 and gave the stock a “positive” rating in a research note on Wednesday, February 7th. Finally, Barclays increased their price objective on shares of Cirrus Logic from $90.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Cirrus Logic has an average rating of “Buy” and a consensus target price of $96.43.

Cirrus Logic Stock Down 2.5 %

CRUS opened at $88.56 on Friday. Cirrus Logic has a twelve month low of $65.02 and a twelve month high of $95.87. The stock has a market capitalization of $4.77 billion, a price-to-earnings ratio of 28.11 and a beta of 1.00. The firm has a 50 day moving average price of $90.67 and a 200-day moving average price of $81.28.

Cirrus Logic (NASDAQ:CRUS) last announced its earnings results on Tuesday, February 6th. The semiconductor company reported $2.53 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.83. Cirrus Logic had a net margin of 9.84% and a return on equity of 16.13%. The business had revenue of $618.98 million during the quarter, compared to analysts’ expectations of $539.55 million. As a group, analysts expect that Cirrus Logic will post 4.79 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Justin E. Dougherty sold 3,280 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $91.40, for a total transaction of $299,792.00. Following the completion of the transaction, the senior vice president now owns 6,000 shares in the company, valued at $548,400. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, VP Andrew Brannan sold 3,250 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $94.00, for a total value of $305,500.00. Following the sale, the vice president now owns 6,055 shares of the company’s stock, valued at $569,170. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Justin E. Dougherty sold 3,280 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $91.40, for a total transaction of $299,792.00. Following the completion of the transaction, the senior vice president now directly owns 6,000 shares in the company, valued at approximately $548,400. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,530 shares of company stock worth $700,292. 0.89% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. grew its position in shares of Cirrus Logic by 6.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,168 shares of the semiconductor company’s stock worth $176,000 after buying an additional 128 shares during the last quarter. Stifel Financial Corp lifted its stake in shares of Cirrus Logic by 0.4% in the 4th quarter. Stifel Financial Corp now owns 37,526 shares of the semiconductor company’s stock valued at $3,122,000 after purchasing an additional 152 shares during the period. Captrust Financial Advisors lifted its stake in shares of Cirrus Logic by 3.1% in the 2nd quarter. Captrust Financial Advisors now owns 5,312 shares of the semiconductor company’s stock valued at $430,000 after purchasing an additional 160 shares during the period. MQS Management LLC raised its position in Cirrus Logic by 4.0% during the third quarter. MQS Management LLC now owns 4,298 shares of the semiconductor company’s stock worth $318,000 after acquiring an additional 164 shares during the period. Finally, Truvestments Capital LLC raised its position in Cirrus Logic by 5.2% during the third quarter. Truvestments Capital LLC now owns 3,462 shares of the semiconductor company’s stock worth $256,000 after acquiring an additional 171 shares during the period. Hedge funds and other institutional investors own 87.96% of the company’s stock.

About Cirrus Logic

Cirrus Logic, Inc, a fabless semiconductor company, develops low-power, high-precision mixed-signal processing solutions in China, the United States, and internationally. The company offers audio products, including codecs components that integrate analog-to-digital converters (ADCs) and digital-to-analog converters (DACs) into a single integrated circuit (IC); smart codecs, a codec with digital signal processing; boosted amplifiers; standalone digital signal processors; and SoundClear technology, which consists of a portfolio of tools, software, and algorithms that helps to enhance user experience with features, such as louder, high-fidelity sound, audio playback, voice capture, and hearing augmentation.