Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) have received a consensus rating of “Buy” from the fifteen analysts that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $69.07.

CRUS has been the topic of several research reports. BidaskClub cut Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 2nd. Vetr cut Cirrus Logic from a “strong-buy” rating to a “buy” rating and set a $70.00 price target on the stock. in a report on Tuesday, April 18th. Zacks Investment Research upgraded Cirrus Logic from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a report on Monday. Needham & Company LLC restated a “buy” rating and set a $80.00 price target (up from $70.00) on shares of Cirrus Logic in a report on Thursday, June 1st. Finally, Stifel Nicolaus restated a “buy” rating and set a $75.00 price target on shares of Cirrus Logic in a report on Thursday, August 3rd.

In other news, CFO Thurman K. Case sold 8,610 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $57.35, for a total transaction of $493,783.50. Following the transaction, the chief financial officer now directly owns 3,880 shares of the company’s stock, valued at $222,518. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William D. Sherman sold 1,378 shares of the company’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 value of $85,215.52. Following the transaction, the director now directly owns 7,307 shares in the company, valued at $451,864.88. The disclosure for this sale can be found here. Insiders have sold a total of 105,719 shares of company stock worth $6,342,696 over the last 90 days. Company insiders own 1.92% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Cirrus Logic by 7.7% in the first quarter. Vanguard Group Inc. now owns 7,057,091 shares of the semiconductor company’s stock worth $428,295,000 after buying an additional 502,335 shares during the last quarter. BlackRock Inc. raised its position in shares of Cirrus Logic by 20,057.8% in the first quarter. BlackRock Inc. now owns 6,973,982 shares of the semiconductor company’s stock worth $423,252,000 after buying an additional 6,939,385 shares during the last quarter. LSV Asset Management raised its position in shares of Cirrus Logic by 27.3% in the second quarter. LSV Asset Management now owns 2,597,827 shares of the semiconductor company’s stock worth $162,935,000 after buying an additional 557,048 shares during the last quarter. State Street Corp raised its position in shares of Cirrus Logic by 5.8% in the first quarter. State Street Corp now owns 2,226,243 shares of the semiconductor company’s stock worth $135,107,000 after buying an additional 122,309 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Cirrus Logic by 103.5% in the first quarter. AQR Capital Management LLC now owns 2,015,030 shares of the semiconductor company’s stock worth $122,292,000 after buying an additional 1,024,836 shares during the last quarter. 94.23% of the stock is currently owned by institutional investors.

Shares of Cirrus Logic (NASDAQ CRUS) opened at 55.46 on Friday. Cirrus Logic has a one year low of $47.01 and a one year high of $71.97. The company has a market cap of $3.54 billion, a price-to-earnings ratio of 12.97 and a beta of 0.01. The firm’s 50-day moving average is $62.66 and its 200-day moving average is $61.51.

Cirrus Logic (NASDAQ:CRUS) last issued its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.81 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.15. The firm had revenue of $320.70 million during the quarter, compared to the consensus estimate of $320.32 million. Cirrus Logic had a return on equity of 26.71% and a net margin of 17.38%. The business’s quarterly revenue was up 23.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.44 earnings per share. Analysts expect that Cirrus Logic will post $4.74 EPS for the current fiscal year.

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About Cirrus Logic

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.

Analyst Recommendations for Cirrus Logic (NASDAQ:CRUS)

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