Cirrus Logic (NASDAQ:CRUS) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a report issued on Wednesday.

A number of other analysts also recently weighed in on CRUS. BidaskClub downgraded shares of Cirrus Logic from a “hold” rating to a “sell” rating in a research report on Tuesday, July 3rd. Cowen raised their price target on shares of Cirrus Logic from $40.00 to $44.00 and gave the stock a “market perform” rating in a research report on Thursday, August 2nd. Craig Hallum raised their price target on shares of Cirrus Logic from $43.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, August 2nd. Susquehanna Bancshares raised their price target on shares of Cirrus Logic from $45.00 to $59.00 and gave the stock a “positive” rating in a research report on Thursday, August 2nd. Finally, Zacks Investment Research raised shares of Cirrus Logic from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research report on Tuesday, August 7th. Four analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. Cirrus Logic currently has an average rating of “Hold” and an average target price of $53.24.

Shares of NASDAQ:CRUS opened at $39.32 on Wednesday. Cirrus Logic has a 52-week low of $34.78 and a 52-week high of $58.80. The company has a market capitalization of $2.50 billion, a price-to-earnings ratio of 13.07, a PEG ratio of 1.03 and a beta of 0.38.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Wednesday, August 1st. The semiconductor company reported $0.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.36. Cirrus Logic had a net margin of 7.83% and a return on equity of 17.46%. The company had revenue of $254.48 million during the quarter, compared to the consensus estimate of $231.38 million. During the same quarter last year, the company earned $0.81 earnings per share. Cirrus Logic’s revenue for the quarter was down 20.7% on a year-over-year basis. equities research 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 firm’s stock in a transaction that occurred on Sunday, August 26th. The shares were sold at an average price of $44.99, for a total transaction of $187,653.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 4,664 shares of company stock valued at $207,176 in the last three months. Corporate insiders own 2.32% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in CRUS. BlackRock Inc. lifted its stake in Cirrus Logic by 11.4% during the first quarter. BlackRock Inc. now owns 7,875,410 shares of the semiconductor company’s stock worth $319,978,000 after purchasing an additional 804,774 shares during the last quarter. Partner Fund Management L.P. bought a new position in Cirrus Logic during the second quarter worth $28,998,000. Letko Brosseau & Associates Inc. lifted its stake in Cirrus Logic by 58.9% during the second quarter. Letko Brosseau & Associates Inc. now owns 628,960 shares of the semiconductor company’s stock worth $24,108,000 after purchasing an additional 233,060 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Cirrus Logic by 12.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,932,351 shares of the semiconductor company’s stock worth $78,511,000 after purchasing an additional 219,208 shares during the last quarter. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lifted its stake in Cirrus Logic by 685.7% during the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 211,979 shares of the semiconductor company’s stock worth $8,125,000 after purchasing an additional 185,000 shares during the last quarter. Hedge funds and other institutional investors own 91.95% of the company’s stock.

Cirrus Logic Company Profile

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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