Cirrus Logic (NASDAQ:CRUS) Downgraded to “Hold” Rating by Loop Capital

Cirrus Logic (NASDAQ:CRUS) was downgraded by equities research analysts at Loop Capital from a “buy” rating to a “hold” rating in a research report issued on Monday, Marketbeat.com reports. They currently have a $130.00 price objective on the semiconductor company’s stock. Loop Capital’s price target suggests a potential downside of 0.26% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Benchmark upped their target price on shares of Cirrus Logic from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Wall Street Zen lowered Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Zacks Research raised shares of Cirrus Logic from a “hold” rating to a “strong-buy” rating in a report on Monday, October 27th. Barclays set a $100.00 price objective on shares of Cirrus Logic in a research report on Thursday, January 15th. Finally, Williams Trading set a $150.00 target price on Cirrus Logic in a research report on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $140.71.

Cirrus Logic Stock Performance

NASDAQ CRUS opened at $130.34 on Monday. The company’s 50 day moving average price is $122.84 and its 200 day moving average price is $119.30. The firm has a market capitalization of $6.65 billion, a price-to-earnings ratio of 18.51 and a beta of 1.12. Cirrus Logic has a one year low of $75.83 and a one year high of $136.92.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings results on Tuesday, November 4th. The semiconductor company reported $2.83 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.51. The firm had revenue of $560.96 million for the quarter, compared to analysts’ expectations of $540.45 million. Cirrus Logic had a return on equity of 19.59% and a net margin of 19.48%.Cirrus Logic’s revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the business posted $2.25 EPS. Sell-side analysts forecast that Cirrus Logic will post 5.63 EPS for the current fiscal year.

Insider Buying and Selling at Cirrus Logic

In related news, EVP Andrew Brannan sold 8,913 shares of the stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $119.06, for a total value of $1,061,181.78. Following the completion of the transaction, the executive vice president directly owned 5,950 shares of the company’s stock, valued at $708,407. This represents a 59.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.16% of the company’s stock.

Institutional Trading of Cirrus Logic

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Hantz Financial Services Inc. increased its holdings in shares of Cirrus Logic by 1,660.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 264 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 249 shares during the period. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Cirrus Logic in the fourth quarter valued at approximately $33,000. RMG Wealth Management LLC purchased a new position in shares of Cirrus Logic during the 2nd quarter worth $30,000. Torren Management LLC acquired a new position in shares of Cirrus Logic in the fourth quarter valued at approximately $35,000. Finally, Ameritas Advisory Services LLC purchased a new stake in shares of Cirrus Logic during the 2nd quarter worth $31,000. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Cirrus Logic Company Profile

Cirrus Logic, Inc, headquartered in Austin, Texas, is a fabless semiconductor company specializing in high-precision analog and mixed-signal processing solutions. The firm develops low-power, high-performance audio, voice, and power management integrated circuits, serving prominent consumer electronics OEMs. Its semiconductor devices are designed to enhance audio quality, battery life, and system integration in mobile phones, tablets, wireless headsets and other portable devices.

The company’s product portfolio includes digital-to-analog converters (DACs), analog-to-digital converters (ADCs), audio codecs, power management ICs, voice processors and integrated amplifiers.