Cirrus Logic (NASDAQ:CRUS) Rating Increased 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 note released on Friday.

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

Cirrus Logic Stock Performance

NASDAQ:CRUS opened at $88.56 on Friday. Cirrus Logic has a 52 week low of $65.02 and a 52 week high of $95.87. The firm has a 50-day moving average price of $90.67 and a two-hundred day moving average price of $81.34. The firm has a market cap of $4.77 billion, a price-to-earnings ratio of 28.11 and a beta of 1.00.

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

Insider Activity

In related news, CFO Venkatesh Nathamuni sold 1,000 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $95.00, for a total transaction of $95,000.00. Following the sale, the chief financial officer now owns 1,587 shares of the company’s stock, valued at approximately $150,765. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Cirrus Logic news, CFO Venkatesh Nathamuni sold 1,000 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. Following the sale, 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Andrew Brannan sold 3,250 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $94.00, for a total transaction of $305,500.00. Following the completion of the transaction, the vice president now directly owns 6,055 shares in the company, valued at approximately $569,170. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,530 shares of company stock worth $700,292. 0.89% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cirrus Logic

Institutional investors and hedge funds have recently bought and sold shares of the stock. Venturi Wealth Management LLC raised its position in shares of Cirrus Logic by 93.7% during the 4th quarter. Venturi Wealth Management LLC now owns 368 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 178 shares in the last quarter. Covington Capital Management boosted its holdings in shares of Cirrus Logic by 100.0% in the 3rd quarter. Covington Capital Management now owns 400 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 200 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in shares of Cirrus Logic by 72.3% during the 4th quarter. Quadrant Capital Group LLC now owns 510 shares of the semiconductor company’s stock valued at $42,000 after buying an additional 214 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in Cirrus Logic by 71.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 722 shares of the semiconductor company’s stock worth $53,000 after buying an additional 300 shares during the last quarter. Finally, KBC Group NV purchased a new stake in Cirrus Logic in the fourth quarter worth approximately $67,000. 87.96% of the stock is owned by hedge funds and other 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.