Stifel Nicolaus restated their buy rating on shares of Cirrus Logic, Inc. (NASDAQ:CRUS) in a research report report published on Wednesday morning. The firm currently has a $73.00 target price on the semiconductor company’s stock, down from their previous target price of $75.00.
CRUS has been the topic of several other research reports. BidaskClub cut Cirrus Logic from a strong-buy rating to a buy rating in a research report on Wednesday, August 2nd. Zacks Investment Research upgraded Cirrus Logic from a hold rating to a buy rating and set a $64.00 price target on the stock in a research report on Monday, August 7th. Vetr upgraded Cirrus Logic from a buy rating to a strong-buy rating and set a $70.00 price target on the stock in a research report on Wednesday, April 12th. Pacific Crest restated an overweight rating and issued a $75.00 price target on shares of Cirrus Logic in a research report on Wednesday, June 21st. Finally, Barclays PLC cut Cirrus Logic from an equal weight rating to an underweight rating and set a $55.00 price target on the stock. in a research report on Tuesday, July 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $68.59.
Shares of Cirrus Logic (NASDAQ:CRUS) traded down 0.60% during mid-day trading on Wednesday, hitting $55.13. The stock had a trading volume of 1,356,528 shares. The firm has a 50 day moving average price of $62.38 and a 200 day moving average price of $61.49. The firm has a market cap of $3.52 billion, a PE ratio of 12.89 and a beta of 0.01. Cirrus Logic has a 52-week low of $47.01 and a 52-week high of $71.97.
Cirrus Logic (NASDAQ:CRUS) last posted its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.81 EPS for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.15. Cirrus Logic had a return on equity of 26.71% and a net margin of 17.38%. The business had revenue of $320.70 million for the quarter, compared to analysts’ expectations of $320.32 million. During the same quarter in the previous year, the firm earned $0.44 earnings per share. The business’s revenue was up 23.6% compared to the same quarter last year. Equities analysts predict that Cirrus Logic will post $4.74 EPS for the current year.
ILLEGAL ACTIVITY NOTICE: This piece of content was reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are viewing this piece of content on another site, it was copied illegally and reposted in violation of United States and international copyright law. The correct version of this piece of content can be read at https://stocknewstimes.com/2017/08/12/stifel-nicolaus-reaffirms-buy-rating-for-cirrus-logic-inc-crus.html.
In other Cirrus Logic news, VP Scott Arnold Anderson sold 17,466 shares of Cirrus Logic stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $64.20, for a total value of $1,121,317.20. Following the sale, the vice president now owns 24,432 shares of the company’s stock, valued at approximately $1,568,534.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William D. Sherman sold 1,378 shares of Cirrus Logic stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $61.84, for a total value of $85,215.52. Following the completion of the sale, the director now directly owns 7,307 shares in the company, valued at approximately $451,864.88. The disclosure for this sale can be found here. Insiders sold a total of 105,719 shares of company stock worth $6,342,696 in the last ninety days. 1.92% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in CRUS. OxFORD Asset Management LLP raised its stake in shares of Cirrus Logic by 133.8% in the second quarter. OxFORD Asset Management LLP now owns 110,621 shares of the semiconductor company’s stock worth $6,938,000 after buying an additional 63,305 shares in the last quarter. EAM Investors LLC acquired a new stake in shares of Cirrus Logic during the second quarter worth $2,489,000. Parametric Portfolio Associates LLC raised its stake in shares of Cirrus Logic by 15.7% in the second quarter. Parametric Portfolio Associates LLC now owns 100,552 shares of the semiconductor company’s stock worth $6,307,000 after buying an additional 13,637 shares in the last quarter. Advisor Group Inc. raised its stake in shares of Cirrus Logic by 7.2% in the second quarter. Advisor Group Inc. now owns 14,843 shares of the semiconductor company’s stock worth $931,000 after buying an additional 994 shares in the last quarter. Finally, Glenview Trust Co raised its stake in shares of Cirrus Logic by 22.3% in the second quarter. Glenview Trust Co now owns 5,585 shares of the semiconductor company’s stock worth $350,000 after buying an additional 1,020 shares in the last quarter. 94.23% of the stock is currently owned by institutional investors.
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.
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.
