Shares of Cirrus Logic Inc. (NASDAQ:CRUS) have been given an average rating of “Buy” by the twelve research firms that are presently covering the company. Three research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $55.80.

A number of analysts recently commented on CRUS shares. Pacific Crest reiterated an “equal weight” rating on shares of Cirrus Logic in a research report on Monday, August 29th. Zacks Investment Research cut Cirrus Logic from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 27th. Craig Hallum started coverage on Cirrus Logic in a research report on Monday, November 21st. They set a “hold” rating and a $60.00 price objective for the company. Stifel Nicolaus lifted their price objective on Cirrus Logic from $55.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, September 8th. Finally, Canaccord Genuity lifted their price objective on Cirrus Logic from $56.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, September 20th.

In other Cirrus Logic news, Director William D. Sherman sold 6,462 shares of the business’s stock in a transaction on Monday, November 28th. The stock was sold at an average price of $57.93, for a total transaction of $374,343.66. Following the completion of the transaction, the director now owns 5,229 shares in the company, valued at approximately $302,915.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Bradley J. Fluke sold 4,239 shares of the business’s stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $55.01, for a total value of $233,187.39. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in CRUS. Essex Investment Management Co. LLC acquired a new position in shares of Cirrus Logic during the second quarter worth about $910,000. Artemis Investment Management LLP acquired a new position in shares of Cirrus Logic during the second quarter worth about $15,251,000. Boston Advisors LLC raised its position in shares of Cirrus Logic by 0.7% in the second quarter. Boston Advisors LLC now owns 17,625 shares of the company’s stock worth $684,000 after buying an additional 115 shares during the period. Strs Ohio raised its position in shares of Cirrus Logic by 22.0% in the second quarter. Strs Ohio now owns 7,200 shares of the company’s stock worth $279,000 after buying an additional 1,300 shares during the period. Finally, Adams Diversified Equity Fund Inc. acquired a new position in shares of Cirrus Logic during the second quarter worth about $353,000. Institutional investors own 88.53% of the company’s stock.

Shares of Cirrus Logic (NASDAQ:CRUS) traded down 2.86% during mid-day trading on Wednesday, reaching $55.64. 706,458 shares of the company’s stock were exchanged. Cirrus Logic has a 52 week low of $25.09 and a 52 week high of $59.50. The stock has a market cap of $3.54 billion, a price-to-earnings ratio of 24.53 and a beta of 0.29. The stock has a 50 day moving average price of $54.88 and a 200 day moving average price of $47.11.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings data on Thursday, October 27th. The company reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.30. The firm earned $428.62 million during the quarter, compared to analysts’ expectations of $396.75 million. Cirrus Logic had a return on equity of 18.83% and a net margin of 11.78%. The firm’s quarterly revenue was up 39.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.65 EPS. Equities research analysts predict that Cirrus Logic will post $4.10 EPS for the current year.

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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.

5 Day Chart for NASDAQ:CRUS

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