Cirrus Logic, Inc. (CRUS) Stock Rating Lowered by ValuEngine
Cirrus Logic, Inc. (NASDAQ:CRUS) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Monday.
CRUS has been the topic of a number of other research reports. BidaskClub cut shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 2nd. Craig Hallum reaffirmed a “hold” rating on shares of Cirrus Logic in a research report on Wednesday, September 13th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $75.00 target price on shares of Cirrus Logic in a research report on Thursday, August 3rd. Zacks Investment Research raised shares of Cirrus Logic from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research report on Monday, August 7th. Finally, Pacific Crest reaffirmed an “overweight” rating and issued a $75.00 target price on shares of Cirrus Logic in a research report on Wednesday, June 21st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Cirrus Logic has an average rating of “Buy” and a consensus target price of $67.26.
Cirrus Logic (NASDAQ CRUS) traded down 3.70% on Monday, reaching $55.71. 1,687,842 shares of the company traded hands. Cirrus Logic has a 1-year low of $49.05 and a 1-year high of $71.97. The stock has a market capitalization of $3.55 billion and a price-to-earnings ratio of 13.03. The stock has a 50 day moving average of $57.00 and a 200-day moving average of $61.52.
Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings results on Wednesday, August 2nd. The semiconductor company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.15. Cirrus Logic had a net margin of 17.38% and a return on equity of 26.71%. The firm had revenue of $320.70 million for the quarter, compared to analysts’ expectations of $320.32 million. During the same quarter in the previous year, the company posted $0.44 EPS. The company’s revenue was up 23.6% compared to the same quarter last year. On average, equities analysts anticipate that Cirrus Logic will post $4.74 EPS for the current year.
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In other news, Director Alan R. Schuele sold 2,000 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $57.30, for a total transaction of $114,600.00. Following the sale, the director now owns 14,165 shares of the company’s stock, valued at $811,654.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Andrew Brannan sold 21,504 shares of the stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $55.10, for a total transaction of $1,184,870.40. Following the sale, the vice president now directly owns 21,504 shares in the company, valued at approximately $1,184,870.40. The disclosure for this sale can be found here. Insiders have sold 92,313 shares of company stock worth $5,235,918 in the last three months. Corporate insiders own 1.92% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Fortaleza Asset Management Inc. acquired a new stake in shares of Cirrus Logic during the second quarter worth about $102,000. Mckinley Capital Management LLC Delaware purchased a new stake in shares of Cirrus Logic during the first quarter worth approximately $174,000. ETRADE Capital Management LLC purchased a new stake in shares of Cirrus Logic during the second quarter worth approximately $201,000. Private Advisor Group LLC purchased a new stake in shares of Cirrus Logic during the second quarter worth approximately $215,000. Finally, Turner Investments LLC purchased a new stake in shares of Cirrus Logic during the second quarter worth approximately $220,000. 89.08% of the stock is currently owned by institutional investors and hedge funds.
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.
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