Cirrus Logic (NASDAQ:CRUS) Downgraded by StockNews.com

StockNews.com downgraded shares of Cirrus Logic (NASDAQ:CRUS) from a strong-buy rating to a buy rating in a research report report published on Saturday morning.

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

Cirrus Logic Stock Down 0.3 %

Shares of CRUS opened at $84.25 on Friday. Cirrus Logic has a 52 week low of $65.02 and a 52 week high of $95.87. The company has a market capitalization of $4.54 billion, a price-to-earnings ratio of 26.75 and a beta of 1.00. The stock’s 50-day moving average price is $90.22 and its 200-day moving average price is $81.94.

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

Insider Buying and Selling at Cirrus Logic

In related news, CFO Venkatesh Nathamuni sold 1,000 shares of Cirrus Logic stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $95.00, for a total transaction of $95,000.00. Following the completion of the transaction, the chief financial officer now directly owns 1,587 shares in the company, valued at approximately $150,765. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Venkatesh Nathamuni sold 1,000 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $95.00, for a total transaction 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 approximately $150,765. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Andrew Brannan sold 3,250 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $94.00, for a total transaction of $305,500.00. Following the sale, the vice president now directly owns 6,055 shares of the company’s stock, valued at $569,170. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,530 shares of company stock valued at $700,292. 0.89% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cirrus Logic

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CRUS. MQS Management LLC raised its stake 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. Truvestments Capital LLC boosted its holdings 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 buying an additional 171 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Cirrus Logic by 0.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 26,963 shares of the semiconductor company’s stock worth $1,994,000 after buying an additional 172 shares in the last quarter. Covestor Ltd lifted its position in shares of Cirrus Logic by 13.2% in the 3rd quarter. Covestor Ltd now owns 1,492 shares of the semiconductor company’s stock valued at $110,000 after acquiring an additional 174 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its position in shares of Cirrus Logic by 93.7% in the 4th quarter. Venturi Wealth Management LLC now owns 368 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 178 shares in the last quarter. 87.96% of the stock is owned by hedge funds and other institutional investors.

Cirrus Logic Company Profile

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.