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

Cirrus Logic (NASDAQ:CRUS – Get a Free Report) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Tuesday.

Other analysts have recently issued reports on the stock. Susquehanna upped their target price on shares of Cirrus Logic from $120.00 to $175.00 and gave the stock a “positive” rating in a report on Wednesday, July 17th. Barclays raised their price objective on shares of Cirrus Logic from $110.00 to $140.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Stifel Nicolaus boosted their price objective on shares of Cirrus Logic from $110.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Finally, KeyCorp upped their target price on Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $143.33, according to MarketBeat.

Get the latest stock analysis on Cirrus Logic

Cirrus Logic trading down 4.2%

Shares of CRUS stock traded up $5.19 on Tuesday, reaching $119.02. The stock had a trading volume of 647,848 shares compared to its average volume of 482,752. Cirrus Logic has a 12-month low of $65.02 and a 12-month high of $147.46. The company has a fifty day moving average price of $131.56 and a two hundred day moving average price of $117.06. The firm has a market cap of $6.36 billion, a P/E ratio of 24.14 and a beta of 0.97.

Cirrus Logic (NASDAQ:CRUS – Get Free Report ) last announced its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.50. The company had revenue of $374.03 million during the quarter, compared to the consensus estimate of $318.41 million. Cirrus Logic had a return on equity of 17.42% and a net margin of 16.31%. The company’s revenue for the quarter was up 18.0% compared to the same quarter last year. In the same period last year, the company earned $0.35 per share. On average, analysts expect that Cirrus Logic will post 5.26 earnings per share for the current year.

Insiders place their bets

In other news, VP Andrew Brannan sold 4,350 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was 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 approximately $544,704.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. In related news, VP Andrew Brannan sold 4,350 shares of the business’s stock in a transaction dated 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 directly owns 4,004 shares of the company’s stock, valued at $544,704.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Justin E. Dougherty sold 10,203 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $131.71, for a total transaction of $1,343,837.13. Following the transaction, the senior vice president now owns 4,838 shares in the company, valued at $637,212.98. The disclosure for this sale can be found here. Insiders hold 1.02% of the company’s shares.

Hedge funds drive Cirrus’ logic

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Profund Advisors LLC boosted its holdings in shares of Cirrus Logic by 2.0% in the second quarter. Profund Advisors LLC now owns 5,271 shares of the semiconductor company’s stock worth $673,000 after acquiring an additional 103 shares during the last quarter. Arkadios Wealth Advisors boosted its stake in Cirrus Logic by 2.8% in the second quarter. Arkadios Wealth Advisors now owns 4,413 shares of the semiconductor company’s stock worth $563,000 after buying an additional 119 shares in the last quarter. Oak Associates Ltd. OH raised its stake in Cirrus Logic by 0.4% during the second quarter. Oak Associates Ltd. OH now owns 34,176 shares of the semiconductor company’s stock worth $4,363,000 after purchasing an additional 134 shares during the last quarter. Holderness Investments Co. raised its holdings in shares of Cirrus Logic by 0.3% during the 2nd quarter. Holderness Investments Co. now owns 47,366 shares of the semiconductor company’s stock worth $6,047,000 after buying an additional 155 shares during the period. Finally, Signaturefd LLC raised its stake in Cirrus Logic by 19.5% in the second quarter. Signaturefd LLC now owns 999 shares of the semiconductor company’s stock valued at $128,000 after buying an additional 163 shares in the last quarter. Institutional investors own 87.96% of the company’s shares.

About Cirrus Logic

(Get a free report)

Cirrus Logic, Inc., a fabless semiconductor company, develops high-precision, low-power mixed-signal processing solutions in China, the United States and internationally. The company offers audio products including amplifiers; codec 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; autonomous digital signal processors; and SoundClear technology, which consists of a portfolio of tools, software and algorithms that help improve the user experience with features such as louder, high-fidelity sound, audio playback, voice capture and hearing augmentation for use on smartphones , tablets, laptops, AR/VR headsets, home theater systems, car entertainment systems and professional audio systems.

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