StockNews.com Upgrades Cirrus Logic (NASDAQ:CRUS) to "Strong-Buy"

Cirrus Logic (NASDAQ:CRUS - Get Free Report) was upgraded by analysts at StockNews.com from a "buy" rating to a "strong-buy" rating in a research report issued on Friday.

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

Cirrus Logic Stock Down 2.5 %

Shares of NASDAQ:CRUS traded down $2.29 during trading on Friday, reaching $88.56. The stock had a trading volume of 422,654 shares, compared to its average volume of 426,495. Cirrus Logic has a 52 week low of $65.02 and a 52 week high of $95.87. The firm has a market capitalization of $4.77 billion, a price-to-earnings ratio of 28.11 and a beta of 1.00. The stock has a fifty day simple moving average of $90.67 and a two-hundred day simple moving average of $81.21.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last released its quarterly 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 company had revenue of $618.98 million for the quarter, compared to analyst estimates of $539.55 million. On average, analysts forecast that Cirrus Logic will post 4.79 EPS for the current year.

Insider Buying and Selling

In other Cirrus Logic news, CFO Venkatesh Nathamuni sold 1,000 shares of the company's stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $95.00, for a total transaction of $95,000.00. Following the transaction, the chief financial officer now directly owns 1,587 shares in the company, valued at approximately $150,765. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, VP Andrew Brannan sold 3,250 shares of the company's stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $94.00, for a total value of $305,500.00. Following the completion of the sale, the vice president now directly owns 6,055 shares of the company's stock, valued at approximately $569,170. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Venkatesh Nathamuni sold 1,000 shares of the company's stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. Following the completion of the sale, the chief financial officer now directly owns 1,587 shares of the company's stock, valued at $150,765. The disclosure for this sale can be found here. Insiders have sold a total of 7,530 shares of company stock worth $700,292 in the last 90 days. Corporate insiders own 0.89% of the company's stock.

Institutional Trading of Cirrus Logic

A number of institutional investors and hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. increased its stake 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 valued at $176,000 after acquiring an additional 128 shares during the last quarter. Stifel Financial Corp increased its stake in Cirrus Logic by 0.4% during the 4th quarter. Stifel Financial Corp now owns 37,526 shares of the semiconductor company's stock worth $3,122,000 after purchasing an additional 152 shares in the last quarter. Captrust Financial Advisors increased its stake in Cirrus Logic by 3.1% during the 2nd quarter. Captrust Financial Advisors now owns 5,312 shares of the semiconductor company's stock worth $430,000 after purchasing an additional 160 shares in the last quarter. MQS Management LLC increased its stake in Cirrus Logic by 4.0% during the 3rd quarter. MQS Management LLC now owns 4,298 shares of the semiconductor company's stock worth $318,000 after purchasing an additional 164 shares in the last quarter. Finally, Truvestments Capital LLC increased its stake in Cirrus Logic by 5.2% during the 3rd quarter. Truvestments Capital LLC now owns 3,462 shares of the semiconductor company's stock worth $256,000 after purchasing an additional 171 shares in the last quarter. 87.96% of the stock is owned by institutional investors.

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.

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