Cirrus Logic Inc. (NASDAQ:CRUS)’s share price reached a new 52-week high during trading on Friday . The company traded as high as $41.04 and last traded at $38.55, with a volume of 1,186,687 shares trading hands. The stock had previously closed at $36.96.

A number of equities analysts have recently commented on the stock. Stifel Nicolaus reissued a “buy” rating and issued a $46.00 price target (up previously from $44.00) on shares of Cirrus Logic in a research report on Wednesday, June 1st. Pacific Crest reaffirmed an “overweight” rating on shares of Cirrus Logic in a research report on Monday, May 16th. Needham & Company LLC reaffirmed a “buy” rating on shares of Cirrus Logic in a research report on Wednesday, April 27th. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating on shares of Cirrus Logic in a research report on Wednesday, April 27th. Finally, Barclays PLC lowered shares of Cirrus Logic from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $37.00 to $35.00 in a research report on Thursday, May 5th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $43.08.

The stock has a market cap of $2.39 billion and a P/E ratio of 20.54. The company’s 50 day moving average is $36.91 and its 200 day moving average is $34.07.

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

In other Cirrus Logic news, VP Randolph K. Carlson sold 12,120 shares of the stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $36.22, for a total transaction of $438,986.40. Following the transaction, the vice president now owns 19,385 shares in the company, valued at approximately $702,124.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Timothy R. Dehne sold 6,462 shares of the stock in a transaction on Wednesday, May 4th. The stock was sold at an average price of $35.30, for a total value of $228,108.60. Following the transaction, the director now owns 23,962 shares in the company, valued at approximately $845,858.60. The disclosure for this sale can be found here.

A number of hedge funds and institutional investors have recently bought and sold shares of CRUS. Mutual of America Capital Management LLC boosted its position in 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 valued at $1,271,000 after buying an additional 3,783 shares during the last quarter. Holderness Investments Co. boosted its position in Cirrus Logic by 0.4% in the fourth quarter. Holderness Investments Co. now owns 63,026 shares of the company’s stock valued at $1,861,000 after buying an additional 230 shares during the last quarter. Comerica Bank boosted its position in Cirrus Logic by 0.9% in the fourth quarter. Comerica Bank now owns 64,800 shares of the company’s stock valued at $1,801,000 after buying an additional 555 shares during the last quarter. Nationwide Fund Advisors boosted its position in Cirrus Logic by 0.9% in the fourth quarter. Nationwide Fund Advisors now owns 68,869 shares of the company’s stock valued at $2,034,000 after buying an additional 598 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in Cirrus Logic by 8.7% in the fourth quarter. Rhumbline Advisers now owns 80,665 shares of the company’s stock valued at $2,382,000 after buying an additional 6,455 shares during the last quarter.

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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