ValuEngine upgraded shares of Cirrus Logic (NASDAQ:CRUS) from a sell rating to a hold rating in a research report released on Tuesday.

Other equities analysts also recently issued reports about the company. BidaskClub raised Cirrus Logic from a hold rating to a buy rating in a research report on Wednesday, August 29th. Zacks Investment Research raised Cirrus Logic from a hold rating to a buy rating and set a $48.00 price target on the stock in a research report on Tuesday, August 7th. Craig Hallum upped their price target on Cirrus Logic from $43.00 to $51.00 and gave the stock a buy rating in a research report on Thursday, August 2nd. Cowen initiated coverage on Cirrus Logic in a research report on Thursday, May 17th. They set a market perform rating and a $40.00 price target on the stock. Finally, Susquehanna Bancshares upped their price target on Cirrus Logic from $45.00 to $59.00 and gave the stock a positive rating in a research report on Thursday, August 2nd. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. Cirrus Logic has a consensus rating of Hold and a consensus price target of $53.24.

Shares of NASDAQ:CRUS opened at $42.99 on Tuesday. The company has a market capitalization of $2.69 billion, a P/E ratio of 14.02, a price-to-earnings-growth ratio of 1.10 and a beta of 0.38. Cirrus Logic has a 52 week low of $34.78 and a 52 week high of $58.80.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Wednesday, August 1st. The semiconductor company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.36. The company had revenue of $254.48 million during the quarter, compared to the consensus estimate of $231.38 million. Cirrus Logic had a net margin of 7.83% and a return on equity of 17.46%. Cirrus Logic’s revenue for the quarter was down 20.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.81 earnings per share. analysts forecast that Cirrus Logic will post 2.66 EPS for the current fiscal year.

In other news, Director Timothy R. Dehne sold 4,171 shares of the business’s stock in a transaction on Sunday, August 26th. The shares were sold at an average price of $44.99, for a total transaction of $187,653.29. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 4,664 shares of company stock worth $207,176 over the last three months. Corporate insiders own 2.32% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bank of America Corp DE grew its holdings in shares of Cirrus Logic by 0.6% during the second quarter. Bank of America Corp DE now owns 227,011 shares of the semiconductor company’s stock valued at $8,701,000 after buying an additional 1,254 shares during the last quarter. Aurora Investment Counsel boosted its holdings in Cirrus Logic by 2.4% in the second quarter. Aurora Investment Counsel now owns 53,598 shares of the semiconductor company’s stock valued at $2,054,000 after purchasing an additional 1,270 shares during the last quarter. Koch Industries Inc. boosted its holdings in Cirrus Logic by 7.0% in the first quarter. Koch Industries Inc. now owns 22,685 shares of the semiconductor company’s stock valued at $922,000 after purchasing an additional 1,481 shares during the last quarter. OppenheimerFunds Inc. boosted its holdings in Cirrus Logic by 15.5% in the second quarter. OppenheimerFunds Inc. now owns 11,889 shares of the semiconductor company’s stock valued at $456,000 after purchasing an additional 1,597 shares during the last quarter. Finally, Profund Advisors LLC boosted its holdings in Cirrus Logic by 6.8% in the first quarter. Profund Advisors LLC now owns 25,008 shares of the semiconductor company’s stock valued at $1,016,000 after purchasing an additional 1,602 shares during the last quarter. 92.04% of the stock is currently owned by hedge funds and other institutional investors.

About Cirrus Logic

Cirrus Logic, Inc, a fabless semiconductor company, develops, manufactures, and markets analog and mixed-signal integrated circuits (ICs) for a range of consumer and industrial markets. The company offers portable and non-portable audio, and other products. Its products include analog and mixed-signal audio converters, and digital signal processing products for mobile applications; codecs-chips that integrate analog-to-digital converters and digital-to-analog converters into a single IC; smart codecs, a codec with digital signal processer; boosted amplifiers; micro-electromechanical systems microphones; digital interface products; and standalone digital signal processors.

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Analyst Recommendations for Cirrus Logic (NASDAQ:CRUS)

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