Cirrus Logic Inc. (NASDAQ:CRUS) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $41.77 and last traded at $40.76, with a volume of 458,890 shares changing hands. The stock had previously closed at $40.18.

A number of research analysts recently commented on the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $46.00 price target (up previously from $44.00) on shares of Cirrus Logic in a research note on Wednesday, June 1st. Canaccord Genuity reiterated a “buy” rating and issued a $52.00 price target on shares of Cirrus Logic in a research note on Tuesday, July 12th. Pacific Crest reiterated a “buy” rating and issued a $40.00 price target on shares of Cirrus Logic in a research note on Thursday, April 14th. Needham & Company LLC reiterated a “buy” rating on shares of Cirrus Logic in a research note on Wednesday, April 27th. Finally, Oppenheimer Holdings Inc. reiterated an “outperform” rating on shares of Cirrus Logic in a research note on Wednesday, April 27th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $45.55.

The company has a market capitalization of $3.07 billion and a price-to-earnings ratio of 26.42. The company’s 50-day moving average is $38.65 and its 200 day moving average is $35.08.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.28 by $0.16. The firm had revenue of $259.40 million for the quarter, compared to analysts’ expectations of $236.67 million. During the same period in the prior year, the firm posted $0.54 EPS. Cirrus Logic’s revenue was down 8.2% on a year-over-year basis. On average, analysts expect that Cirrus Logic Inc. will post $2.85 earnings per share for the current year.

In other Cirrus Logic news, SVP Scott Arnold Anderson sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 24th. The shares were sold at an average price of $35.22, for a total value of $880,500.00. Following the completion of the transaction, the senior vice president now owns 41,966 shares of the company’s stock, valued at approximately $1,478,042.52. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jason P. Rhode sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $34.41, for a total transaction of $1,720,500.00. Following the completion of the transaction, the chief executive officer now directly owns 179,680 shares of the company’s stock, valued at approximately $6,182,788.80. The disclosure for this sale can be found here.

Several large investors have made changes to their positions in CRUS. Mutual of America Capital Management LLC raised 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 last quarter. Comerica Bank raised 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 last quarter. Nationwide Fund Advisors raised 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 last quarter. Rhumbline Advisers raised 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 last quarter. Finally, Airain ltd raised its stake in shares of Cirrus Logic by 319.6% in the fourth quarter. Airain ltd now owns 119,473 shares of the company’s stock worth $3,528,000 after buying an additional 91,001 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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