BidaskClub lowered shares of Cirrus Logic (NASDAQ:CRUS) from a buy rating to a hold rating in a research report report published on Thursday, BidAskClub reports.

Other equities research analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Haynes International from a hold rating to a sell rating in a research note on Wednesday, May 8th. Cowen reaffirmed a hold rating on shares of PTC Therapeutics in a research note on Thursday, May 2nd. MKM Partners upped their price target on shares of Radian Group to $30.00 and gave the company a buy rating in a research note on Thursday, May 2nd. Finally, ValuEngine downgraded shares of Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of Hold and an average price target of $45.00.

Shares of NASDAQ:CRUS traded up $0.79 during midday trading on Thursday, reaching $43.50. 7,428 shares of the company were exchanged, compared to its average volume of 520,945. The company’s fifty day moving average is $41.15. Cirrus Logic has a one year low of $31.25 and a one year high of $50.12. The firm has a market capitalization of $2.49 billion, a PE ratio of 21.08, a PEG ratio of 1.94 and a beta of 0.94.

Cirrus Logic (NASDAQ:CRUS) last issued its earnings results on Wednesday, May 1st. The semiconductor company reported $0.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.04. Cirrus Logic had a net margin of 7.59% and a return on equity of 10.65%. The firm had revenue of $240.44 million during the quarter, compared to analyst estimates of $219.67 million. During the same quarter in the prior year, the business earned $0.51 earnings per share. Cirrus Logic’s revenue for the quarter was down 20.7% on a year-over-year basis. As a group, equities research analysts anticipate that Cirrus Logic will post 1.48 earnings per share for the current year.

In other news, Director David J. Tupman sold 1,541 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $49.43, for a total value of $76,171.63. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Scott Thomas sold 6,153 shares of the stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $45.00, for a total transaction of $276,885.00. The disclosure for this sale can be found here. 2.79% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in Cirrus Logic by 1.8% during the fourth quarter. BlackRock Inc. now owns 7,663,899 shares of the semiconductor company’s stock worth $254,287,000 after buying an additional 134,574 shares during the last quarter. Texas Permanent School Fund boosted its holdings in Cirrus Logic by 2.0% during the fourth quarter. Texas Permanent School Fund now owns 39,161 shares of the semiconductor company’s stock worth $1,299,000 after buying an additional 766 shares during the last quarter. Advisor Group Inc. boosted its holdings in Cirrus Logic by 71.8% during the fourth quarter. Advisor Group Inc. now owns 2,166 shares of the semiconductor company’s stock worth $71,000 after buying an additional 905 shares during the last quarter. State of Tennessee Treasury Department boosted its holdings in Cirrus Logic by 3.6% during the fourth quarter. State of Tennessee Treasury Department now owns 65,243 shares of the semiconductor company’s stock worth $2,165,000 after buying an additional 2,286 shares during the last quarter. Finally, Great West Life Assurance Co. Can boosted its holdings in Cirrus Logic by 13.9% during the fourth quarter. Great West Life Assurance Co. Can now owns 38,362 shares of the semiconductor company’s stock worth $1,183,000 after buying an additional 4,696 shares during the last quarter. 84.62% of the stock is currently owned by institutional investors and hedge funds.

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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