Recent Analysts’ Ratings Updates for Cirrus Logic (CRUS)

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A number of firms have modified their ratings and price targets on shares of Cirrus Logic (NASDAQ: CRUS) recently:

  • 2/4/2019 – Cirrus Logic was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Cirrus Logic's third-quarter fiscal 2019 results exceeded estimates. The company is witnessing a solid traction in design wins and is actively engaged with a number of new and existing customers. Cirrus anticipates revenues generated by Android customers to increase year over year in the next fiscal year, backed by content gains with various OEMs. Moreover, launch of products by both new and existing customers in fiscal 2020 also makes the management optimistic. However, owing to persistent weakness in smartphone unit sales, Cirrus Logic issued a tepid guidance for the fiscal fourth quarter. Declining sales of portable audio products shipping in smartphone is a headwind. Intensifying competition, unfavorable currency fluctuations and an uncertain macroeconomic environment remain other concerns. Shares of the company have underperformed the industry in the past year.”
  • 2/1/2019 – Cirrus Logic was downgraded by analysts at TheStreet from a “b-” rating to a “c” rating.
  • 2/1/2019 – Cirrus Logic was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “buy” rating. They now have a $42.00 price target on the stock. According to Zacks, “Cirrus Logic's third-quarter fiscal 2019 results exceeded estimates. The company is witnessing a solid traction in design wins and is actively engaged with a number of new and existing customers. Cirrus anticipates revenues generated by Android customers to increase year over year in the next fiscal year, backed by content gains with various OEMs. Moreover, launch of products by both new and existing customers in fiscal 2020 also makes the management optimistic. However, owing to persistent weakness in smartphone unit sales, Cirrus Logic issued a tepid guidance for the fiscal fourth quarter. Intensifying competition, unfavorable currency fluctuations and an uncertain macroeconomic environment remain other concerns. Shares of the company have underperformed the industry in the past year.”
  • 1/31/2019 – Cirrus Logic was downgraded by analysts at Craig Hallum from a “buy” rating to a “hold” rating. They now have a $38.00 price target on the stock, down previously from $44.00.
  • 1/16/2019 – Cirrus Logic was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 1/7/2019 – Cirrus Logic was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 1/4/2019 – Cirrus Logic was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.

CRUS stock opened at $39.13 on Wednesday. The firm has a market cap of $2.37 billion, a PE ratio of 10.60, a price-to-earnings-growth ratio of 1.55 and a beta of 0.61. Cirrus Logic, Inc. has a 52-week low of $31.25 and a 52-week high of $46.18.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results on Wednesday, January 30th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.13. The firm had revenue of $324.30 million during the quarter, compared to the consensus estimate of $319.37 million. Cirrus Logic had a net margin of 7.68% and a return on equity of 11.88%. The company’s revenue for the quarter was down 32.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.59 earnings per share. On average, sell-side analysts forecast that Cirrus Logic, Inc. will post 1.72 EPS for the current fiscal year.

In other Cirrus Logic news, VP Randolph K. Carlson sold 10,848 shares of the firm’s stock in a transaction on Monday, February 4th. The shares were sold at an average price of $37.43, for a total value of $406,040.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Timothy R. Dehne sold 3,056 shares of the firm’s stock in a transaction on Tuesday, February 5th. The stock was sold at an average price of $38.72, for a total transaction of $118,328.32. The disclosure for this sale can be found here. Corporate insiders own 2.32% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Pearl River Capital LLC bought a new position in shares of Cirrus Logic in the fourth quarter valued at $32,000. Huntington National Bank bought a new position in shares of Cirrus Logic in the fourth quarter valued at $68,000. Advisor Group Inc. lifted its stake in shares of Cirrus Logic by 71.8% in the fourth quarter. Advisor Group Inc. now owns 2,166 shares of the semiconductor company’s stock valued at $71,000 after buying an additional 905 shares in the last quarter. Strs Ohio lifted its stake in shares of Cirrus Logic by 316.7% in the fourth quarter. Strs Ohio now owns 2,500 shares of the semiconductor company’s stock valued at $82,000 after buying an additional 1,900 shares in the last quarter. Finally, Captrust Financial Advisors lifted its stake in shares of Cirrus Logic by 85.5% in the fourth quarter. Captrust Financial Advisors now owns 2,641 shares of the semiconductor company’s stock valued at $88,000 after buying an additional 1,217 shares in the last quarter. Institutional investors and hedge funds own 91.91% of the company’s stock.

Cirrus Logic, Inc, a fabless semiconductor company, develops, manufactures, and markets analog and mixed-signal integrated circuits (ICs) for a range of consumer and industrial markets. The company offers portable and non-portable audio, and other products. Its products include analog and mixed-signal audio converters, and digital signal processing products for mobile applications; codecs-chips that integrate analog-to-digital converters and digital-to-analog converters into a single IC; smart codecs, a codec with digital signal processer; boosted amplifiers; micro-electromechanical systems microphones; digital interface products; and standalone digital signal processors.

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