Headlines about Cirrus Logic (NASDAQ:CRUS) have been trending somewhat positive this week, Accern reports. The research firm identifies positive and negative news coverage by monitoring more than 20 million blog and news sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Cirrus Logic earned a daily sentiment score of 0.16 on Accern’s scale. Accern also gave news stories about the semiconductor company an impact score of 46.1827669251985 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
Here are some of the news stories that may have impacted Accern’s analysis:
- Why Is Cirrus Logic (CRUS) Up 1.8% Since Its Last Earnings Report? (finance.yahoo.com)
- Semiconductor Stocks’ Research Reports Released on Canadian Solar, Cirrus Logic, JA Solar, and Lattice Semiconductor (bizjournals.com)
- Cirrus Logic, Inc. (CRUS) Shares Bought by The Manufacturers Life Insurance Company (americanbankingnews.com)
- Rhumbline Advisers Sells 12,475 Shares of Cirrus Logic, Inc. (CRUS) (americanbankingnews.com)
- Cirrus Logic, Inc. (CRUS) Position Boosted by Koch Industries Inc. (americanbankingnews.com)
Several equities research analysts recently issued reports on the stock. Needham & Company LLC cut shares of Cirrus Logic from a “buy” rating to a “hold” rating in a report on Tuesday, February 6th. BidaskClub cut shares of Cirrus Logic from a “sell” rating to a “strong sell” rating in a report on Tuesday, February 27th. Craig Hallum dropped their target price on shares of Cirrus Logic from $54.00 to $44.00 and set a “hold” rating on the stock in a report on Tuesday, February 6th. Bank of America dropped their target price on shares of Cirrus Logic from $50.00 to $41.00 and set a “sell” rating on the stock in a report on Tuesday, February 6th. Finally, Stifel Nicolaus dropped their price target on shares of Cirrus Logic from $75.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, February 6th. Five research analysts have rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $60.22.
Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings results on Monday, February 5th. The semiconductor company reported $1.59 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.78 by ($0.19). The business had revenue of $482.70 million for the quarter, compared to analysts’ expectations of $530.99 million. Cirrus Logic had a return on equity of 22.60% and a net margin of 11.89%. The company’s revenue was down 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.87 EPS. analysts expect that Cirrus Logic will post 3.78 earnings per share for the current year.
Cirrus Logic declared that its Board of Directors has authorized a stock buyback program on Monday, February 5th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the semiconductor company to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.
In related news, VP Randolph K. Carlson sold 7,265 shares of Cirrus Logic stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $42.03, for a total transaction of $305,347.95. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Christine King sold 562 shares of Cirrus Logic stock in a transaction on Friday, December 15th. The shares were sold at an average price of $49.75, for a total transaction of $27,959.50. Following the transaction, the director now owns 11,744 shares in the company, valued at approximately $584,264. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,450 shares of company stock worth $363,121. 1.92% of the stock is owned by corporate insiders.
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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.
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