Vetr upgraded shares of Cirrus Logic, Inc. (NASDAQ:CRUS) from a buy rating to a strong-buy rating in a research report sent to investors on Thursday morning. Vetr currently has $66.67 price objective on the semiconductor company’s stock.

Several other brokerages also recently weighed in on CRUS. Needham & Company LLC reaffirmed a buy rating and set a $70.00 target price on shares of Cirrus Logic in a research note on Friday, April 14th. Barclays PLC downgraded shares of Cirrus Logic from an equal weight rating to an underweight rating and set a $55.00 target price on the stock. in a research note on Tuesday, July 18th. Pacific Crest reaffirmed an overweight rating and set a $75.00 target price on shares of Cirrus Logic in a research note on Wednesday, June 21st. Dougherty & Co upped their target price on shares of Cirrus Logic from $65.00 to $70.00 and gave the stock a buy rating in a research note on Thursday, May 4th. Finally, BidaskClub downgraded shares of Cirrus Logic from a strong-buy rating to a buy rating in a research note on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Cirrus Logic has a consensus rating of Buy and a consensus price target of $68.67.

Shares of Cirrus Logic (NASDAQ:CRUS) traded down 0.33% during trading on Thursday, hitting $57.26. 741,099 shares of the stock were exchanged. Cirrus Logic has a one year low of $47.01 and a one year high of $71.97. The stock’s 50 day moving average price is $63.83 and its 200-day moving average price is $61.54. The company has a market cap of $3.67 billion, a price-to-earnings ratio of 13.39 and a beta of 0.01.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results on Wednesday, August 2nd. The semiconductor company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.15. The business had revenue of $320.70 million for the quarter, compared to the consensus estimate of $320.32 million. Cirrus Logic had a net margin of 17.38% and a return on equity of 26.71%. The business’s revenue was up 23.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.44 EPS. On average, analysts predict that Cirrus Logic will post $4.69 EPS for the current year.

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In other Cirrus Logic news, VP Scott Arnold Anderson sold 17,466 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $64.20, for a total transaction of $1,121,317.20. Following the completion of the transaction, the vice president now owns 24,432 shares in the company, valued at approximately $1,568,534.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William D. Sherman sold 1,378 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $61.84, for a total transaction of $85,215.52. Following the transaction, the director now owns 7,307 shares of the company’s stock, valued at approximately $451,864.88. The disclosure for this sale can be found here. Insiders have sold a total of 41,777 shares of company stock valued at $2,689,055 in the last quarter. 1.92% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Oregon Public Employees Retirement Fund boosted its position in Cirrus Logic by 2.6% in the first quarter. Oregon Public Employees Retirement Fund now owns 22,283 shares of the semiconductor company’s stock valued at $1,352,000 after buying an additional 575 shares during the period. Emerald Advisers Inc. PA purchased a new position in Cirrus Logic during the first quarter valued at approximately $13,803,000. Emerald Mutual Fund Advisers Trust purchased a new position in Cirrus Logic during the first quarter valued at approximately $8,737,000. Hillcrest Asset Management LLC boosted its position in Cirrus Logic by 8.0% in the first quarter. Hillcrest Asset Management LLC now owns 179,993 shares of the semiconductor company’s stock valued at $10,924,000 after buying an additional 13,284 shares during the period. Finally, Old Mutual Global Investors UK Ltd. boosted its position in Cirrus Logic by 1,806.8% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 541,359 shares of the semiconductor company’s stock valued at $32,855,000 after buying an additional 512,968 shares during the period. Institutional investors own 94.23% of the company’s stock.

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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Cirrus Logic (NASDAQ:CRUS)

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