Cirrus Logic Inc. (NASDAQ:CRUS) hit a new 52-week high on Monday . The company traded as high as $41.21 and last traded at $40.18, with a volume of 456,367 shares trading hands. The stock had previously closed at $40.16.

A number of brokerages have weighed in on CRUS. Canaccord Genuity reiterated a “buy” rating and set a $52.00 price target on shares of Cirrus Logic in a research report on Tuesday, July 12th. Pacific Crest reiterated an “overweight” rating and set a $40.00 price target on shares of Cirrus Logic in a research report on Tuesday, June 7th. Stifel Nicolaus reiterated a “buy” rating and set a $46.00 price target (up from $44.00) on shares of Cirrus Logic in a research report on Wednesday, June 1st. Barclays PLC lowered shares of Cirrus Logic from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $37.00 to $35.00 in a research note on Thursday, May 5th. Finally, Needham & Company LLC reissued a “buy” rating on shares of Cirrus Logic in a research note on Wednesday, April 27th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $43.08.

The stock has a market cap of $2.51 billion and a price-to-earnings ratio of 21.55. The firm’s 50 day moving average price is $37.71 and its 200 day moving average price is $34.39.

Cirrus Logic (NASDAQ:CRUS) last released its earnings results on Tuesday, April 26th. The company reported $0.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.17. The firm earned $232 million during the quarter, compared to the consensus estimate of $226.65 million. The company’s revenue was down 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.66 EPS. Equities research analysts anticipate that Cirrus Logic Inc. will post $2.85 earnings per share for the current fiscal year.

In other news, CFO Thurman K. Case sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 3rd. The stock was sold at an average price of $36.11, for a total transaction of $252,770.00. Following the sale, the chief financial officer now owns 31,008 shares in the company, valued at approximately $1,119,698.88. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Timothy R. Dehne sold 6,462 shares of the company’s stock in a transaction that occurred 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 sale, 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.

Other large investors recently made changes to their positions in the company. 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 in the last quarter. 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 in the last quarter. 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 in the last quarter. 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 in the last quarter. 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 in 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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