Cirrus Logic, Inc. (CRUS) Given Consensus Rating of “Buy” by Analysts

Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) have been given a consensus recommendation of “Buy” by the thirteen brokerages that are covering the firm, Marketbeat reports. Five analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $66.89.

A number of equities analysts have recently commented on CRUS shares. Oppenheimer Holdings, Inc. restated a “market perform” rating and issued a $70.00 price objective on shares of Cirrus Logic in a report on Wednesday, March 1st. Needham & Company LLC restated a “buy” rating and issued a $70.00 price objective on shares of Cirrus Logic in a report on Wednesday, March 1st. MKM Partners started coverage on Cirrus Logic in a report on Wednesday, February 22nd. They issued a “buy” rating and a $65.00 price objective on the stock. Pacific Crest upgraded Cirrus Logic from a “sector weight” rating to an “overweight” rating and set a $75.00 price objective on the stock in a report on Tuesday, April 4th. Finally, Vetr downgraded Cirrus Logic from a “strong-buy” rating to a “buy” rating and set a $70.00 price objective on the stock. in a report on Tuesday, April 18th.

Cirrus Logic (NASDAQ:CRUS) opened at 64.86 on Tuesday. The stock’s 50 day moving average price is $65.39 and its 200 day moving average price is $60.07. Cirrus Logic has a 12-month low of $34.82 and a 12-month high of $71.97. The stock has a market cap of $4.14 billion, a price-to-earnings ratio of 16.55 and a beta of 0.03.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings data on Wednesday, May 3rd. The semiconductor company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.14. The company had revenue of $327.86 million for the quarter, compared to the consensus estimate of $320.94 million. Cirrus Logic had a return on equity of 26.32% and a net margin of 16.31%. The company’s quarterly revenue was up 41.3% compared to the same quarter last year. During the same period last year, the business posted $0.38 EPS. Analysts forecast that Cirrus Logic will post $4.56 EPS for the current fiscal year.

In related news, VP Bradley J. Fluke sold 19,459 shares of the firm’s stock in a transaction dated Thursday, May 4th. The stock was sold at an average price of $64.48, for a total transaction of $1,254,716.32. Following the sale, the vice president now directly owns 15,063 shares in the company, valued at approximately $971,262.24. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Christine King sold 7,000 shares of the firm’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $63.73, for a total value of $446,110.00. Following the sale, the director now owns 8,126 shares in the company, valued at $517,869.98. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 96,858 shares of company stock worth $6,197,529. Company insiders own 1.92% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Miles Capital Inc. raised its stake in shares of Cirrus Logic by 0.3% in the first quarter. Miles Capital Inc. now owns 3,796 shares of the semiconductor company’s stock worth $230,000 after buying an additional 10 shares during the period. Huntington National Bank raised its stake in shares of Cirrus Logic by 0.5% in the first quarter. Huntington National Bank now owns 2,442 shares of the semiconductor company’s stock worth $148,000 after buying an additional 11 shares during the period. HL Financial Services LLC raised its stake in shares of Cirrus Logic by 0.3% in the first quarter. HL Financial Services LLC now owns 10,964 shares of the semiconductor company’s stock worth $665,000 after buying an additional 34 shares during the period. Liberty Mutual Group Asset Management Inc. raised its stake in shares of Cirrus Logic by 0.3% in the first quarter. Liberty Mutual Group Asset Management Inc. now owns 29,065 shares of the semiconductor company’s stock worth $1,764,000 after buying an additional 82 shares during the period. Finally, Northwestern Mutual Investment Management Company LLC raised its stake in shares of Cirrus Logic by 0.8% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 11,069 shares of the semiconductor company’s stock worth $672,000 after buying an additional 89 shares during the period. Hedge funds and other institutional investors own 94.90% of the company’s stock.

WARNING: This piece of content was reported by Ticker Report and is the property of of Ticker Report. If you are accessing this piece of content on another domain, it was copied illegally and reposted in violation of US and international copyright and trademark legislation. The original version of this piece of content can be viewed at https://www.tickerreport.com/banking-finance/2654827/cirrus-logic-inc-crus-given-consensus-rating-of-buy-by-analysts.html.

Cirrus Logic Company Profile

Cirrus Logic, Inc is engaged in providing integrated circuits (ICs) for audio and voice signal processing applications. The Company develops analog and mixed-signal ICs for a range of customers. The Company offers two product lines: Portable Audio, and Non-Portable Audio and Other. The Company’s primary facility housing engineering, sales and marketing, and administration functions is located in Austin, Texas.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:CRUS”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

Receive News & Ratings for Cirrus Logic Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cirrus Logic Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
President Trump Hurting Tourism in the U.S.
President Trump Hurting Tourism in the U.S.
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Blue Apron Filed Thursday for Public Offering
Blue Apron Filed Thursday for Public Offering
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Large Auto Lender Checked Just 8% of Incomes for Applicants
Large Auto Lender Checked Just 8% of Incomes for Applicants


Leave a Reply

© 2006-2017 Ticker Report. Google+.