Cirrus Logic (NASDAQ:CRUS) Lifted to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Cirrus Logic (NASDAQ:CRUS) from a buy rating to a strong-buy rating in a research report sent to investors on Tuesday morning.

CRUS has been the topic of a number of other research reports. KeyCorp lifted their target price on Cirrus Logic from $155.00 to $165.00 and gave the company an overweight rating in a research report on Wednesday, August 7th. Susquehanna upped their target price on shares of Cirrus Logic from $120.00 to $175.00 and gave the company a positive rating in a research report on Wednesday, July 17th. Stifel Nicolaus lifted their target price on shares of Cirrus Logic from $110.00 to $165.00 and gave the company a buy rating in a report on Thursday, July 18th. Finally, Barclays upped their price target on Cirrus Logic from $110.00 to $140.00 and gave the stock an overweight rating in a research note on Wednesday, August 7th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Buy and a consensus price target of $143.33.

Cirrus Logic Trading Up 0.6 %

Shares of CRUS opened at $119.61 on Tuesday. Cirrus Logic has a 12-month low of $65.02 and a 12-month high of $147.46. The firm has a market capitalization of $6.39 billion, a P/E ratio of 24.26 and a beta of 0.96. The firm has a 50-day moving average price of $131.23 and a 200 day moving average price of $117.10.

Cirrus Logic (NASDAQ:CRUS) last posted its earnings results on Tuesday, August 6th. The semiconductor company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.50. The company had revenue of $374.03 million for the quarter, compared to analyst estimates of $318.41 million. Cirrus Logic had a net margin of 16.31% and a return on equity of 17.42%. Cirrus Logic’s revenue was up 18.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.35 EPS. Equities research analysts predict that Cirrus Logic will post 5.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cirrus Logic news, VP Andrew Brannan sold 4,350 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $136.04, for a total value of $591,774.00. Following the completion of the transaction, the vice president now owns 4,004 shares in the company, valued at $544,704.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, SVP Justin E. Dougherty sold 10,203 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $131.71, for a total value of $1,343,837.13. Following the sale, the senior vice president now owns 4,838 shares of the company’s stock, valued at $637,212.98. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Andrew Brannan sold 4,350 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $136.04, for a total transaction of $591,774.00. Following the transaction, the vice president now owns 4,004 shares of the company’s stock, valued at $544,704.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.02% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cirrus Logic

A number of hedge funds and other institutional investors have recently modified their holdings of CRUS. Atlas Capital Advisors LLC increased its holdings in Cirrus Logic by 103.0% in the first quarter. Atlas Capital Advisors LLC now owns 402 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 204 shares during the last quarter. Versant Capital Management Inc increased its holdings in shares of Cirrus Logic by 1,911.1% in the 2nd quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company’s stock valued at $46,000 after acquiring an additional 344 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Cirrus Logic by 79.5% during the 2nd quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company’s stock worth $61,000 after acquiring an additional 210 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new stake in Cirrus Logic during the second quarter worth approximately $77,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Cirrus Logic by 52.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 961 shares of the semiconductor company’s stock valued at $123,000 after purchasing an additional 329 shares in the last quarter. 87.96% of the stock is currently owned by institutional investors and hedge funds.

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 amplifiers; 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 integrated digital signal processing; 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 for use in smartphones, tablets, laptops, AR/VR headsets, home theater systems, automotive entertainment systems, and professional audio systems.