Shares of Cirrus Logic Inc. (NASDAQ:CRUS) saw unusually-strong trading volume on Tuesday . Approximately 966,929 shares changed hands during mid-day trading, a decline of 12% from the previous session’s volume of 1,094,677 shares.The stock last traded at $35.66 and had previously closed at $38.04.

A number of research analysts have weighed in on CRUS shares. Needham & Company LLC started coverage on shares of Cirrus Logic in a research note on Monday, March 14th. They issued a “buy” rating and a $50.00 price objective on the stock. Zacks Investment Research lowered shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Monday, March 14th. Pacific Crest reaffirmed an “overweight” rating on shares of Cirrus Logic in a research note on Tuesday, March 15th. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating on shares of Cirrus Logic in a research note on Wednesday, April 27th. Finally, Barclays PLC lowered shares of Cirrus Logic from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $37.00 to $35.00 in a research note on Thursday, May 5th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Cirrus Logic presently has a consensus rating of “Buy” and a consensus price target of $43.08.

The company has a market capitalization of $2.27 billion and a price-to-earnings ratio of 19.49. The stock has a 50 day moving average price of $36.81 and a 200-day moving average price of $34.05.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Tuesday, April 26th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.17. The company had revenue of $232 million for the quarter, compared to analysts’ expectations of $226.65 million. During the same period in the previous year, the firm posted $0.66 earnings per share. The firm’s revenue for the quarter was down 9.1% compared to the same quarter last year. Analysts forecast that Cirrus Logic Inc. will post $2.85 EPS for the current fiscal year.

In other news, Director Alan R. Schuele sold 6,482 shares of the business’s stock in a transaction on Tuesday, June 21st. The shares were sold at an average price of $40.00, for a total transaction of $259,280.00. Following the sale, the director now owns 28,938 shares in the company, valued at approximately $1,157,520. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Jason P. Rhode sold 50,000 shares of the business’s stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $34.41, for a total transaction of $1,720,500.00. Following the sale, the chief executive officer now owns 179,680 shares in the company, valued at approximately $6,182,788.80. The disclosure for this sale can be found here.

Several hedge funds have made changes to their positions in the stock. Mutual of America Capital Management LLC boosted its stake in shares of Cirrus Logic by 9.6% in the fourth quarter. Mutual of America Capital Management LLC now owns 43,049 shares of the company’s stock worth $1,271,000 after buying an additional 3,783 shares during the period. Comerica Bank boosted its stake in shares of Cirrus Logic by 0.9% in the fourth quarter. Comerica Bank now owns 64,800 shares of the company’s stock worth $1,801,000 after buying an additional 555 shares during the period. Holderness Investments Co. boosted its stake in shares of Cirrus Logic by 0.4% in the fourth quarter. Holderness Investments Co. now owns 63,026 shares of the company’s stock worth $1,861,000 after buying an additional 230 shares during the period. Nationwide Fund Advisors boosted its stake in shares of Cirrus Logic by 0.9% in the fourth quarter. Nationwide Fund Advisors now owns 68,869 shares of the company’s stock worth $2,034,000 after buying an additional 598 shares during the period. Finally, Rhumbline Advisers boosted its stake in shares of Cirrus Logic by 8.7% in the fourth quarter. Rhumbline Advisers now owns 80,665 shares of the company’s stock worth $2,382,000 after buying an additional 6,455 shares during the period.

Cirrus Logic, Inc (Cirrus Logic) develops high-precision, analog and mixed-signal integrated circuits (ICs) for a range of audio and energy markets. Cirrus Logic delivers products for consumer and professional audio, automotive entertainment, and targeted industrial applications including energy control, energy measurement, light emitting diode (LED) lighting and energy exploration.

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