Cirrus Logic (CRUS) Downgraded by BidaskClub
BidaskClub lowered shares of Cirrus Logic (NASDAQ:CRUS) from a sell rating to a strong sell rating in a research report released on Tuesday.
Other equities analysts also recently issued reports about the stock. Stifel Nicolaus reissued a buy rating on shares of Cirrus Logic in a report on Wednesday, September 13th. Zacks Investment Research raised shares of Cirrus Logic from a hold rating to a buy rating and set a $62.00 price target for the company in a report on Tuesday, October 3rd. ValuEngine raised shares of Cirrus Logic from a hold rating to a buy rating in a report on Monday, October 2nd. Canaccord Genuity reissued a buy rating and set a $76.00 price target on shares of Cirrus Logic in a report on Tuesday, September 19th. Finally, Northland Securities reissued a buy rating on shares of Cirrus Logic in a report on Friday, November 3rd. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $67.05.
Cirrus Logic (NASDAQ CRUS) traded up $1.00 during trading hours on Tuesday, hitting $50.57. 892,727 shares of the stock were exchanged, compared to its average volume of 1,140,141. The company has a market cap of $3,260.00, a P/E ratio of 11.37, a price-to-earnings-growth ratio of 1.30 and a beta of 0.01. Cirrus Logic has a one year low of $48.61 and a one year high of $71.97.
Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings data on Thursday, November 2nd. The semiconductor company reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.16. The company had revenue of $425.50 million during the quarter, compared to the consensus estimate of $410.32 million. Cirrus Logic had a net margin of 17.11% and a return on equity of 25.37%. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period last year, the firm earned $1.35 EPS. equities research analysts anticipate that Cirrus Logic will post 4.21 EPS for the current year.
In other Cirrus Logic news, Director Christine King sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $54.14, for a total value of $270,700.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Bradley J. Fluke sold 7,325 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $53.44, for a total transaction of $391,448.00. Following the completion of the sale, the vice president now owns 12,000 shares of the company’s stock, valued at approximately $641,280. The disclosure for this sale can be found here. Insiders sold a total of 17,881 shares of company stock valued at $964,672 in the last 90 days. Corporate insiders own 1.92% of the company’s stock.
Large investors have recently modified their holdings of the company. King Luther Capital Management Corp acquired a new stake in shares of Cirrus Logic during the 2nd quarter worth approximately $1,101,000. Teachers Advisors LLC grew its position in shares of Cirrus Logic by 230.6% during the 2nd quarter. Teachers Advisors LLC now owns 397,156 shares of the semiconductor company’s stock worth $24,910,000 after buying an additional 277,015 shares during the period. BlueMountain Capital Management LLC acquired a new stake in shares of Cirrus Logic during the 2nd quarter worth approximately $2,449,000. Principal Financial Group Inc. grew its position in shares of Cirrus Logic by 4.3% during the 2nd quarter. Principal Financial Group Inc. now owns 276,706 shares of the semiconductor company’s stock worth $17,355,000 after buying an additional 11,483 shares during the period. Finally, State of Tennessee Treasury Department grew its position in shares of Cirrus Logic by 135.2% during the 2nd quarter. State of Tennessee Treasury Department now owns 211,710 shares of the semiconductor company’s stock worth $13,278,000 after buying an additional 121,710 shares during the period. Institutional investors own 89.26% 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.
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