Cirrus Logic (NASDAQ:CRUS) Rating Lowered to Buy at StockNews.com

Cirrus Logic (NASDAQ:CRUS) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

A number of other equities analysts have also recently commented on CRUS. TheStreet raised shares of Cirrus Logic from a “c+” rating to a “b-” rating in a research note on Tuesday, January 23rd. Barclays lifted their price objective on shares of Cirrus Logic from $90.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. TD Cowen lifted their price objective on shares of Cirrus Logic from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Susquehanna lifted their price objective on shares of Cirrus Logic from $85.00 to $100.00 and gave the company a “positive” rating in a report on Wednesday, February 7th. Finally, Stifel Nicolaus lifted their price objective on shares of Cirrus Logic from $95.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, Cirrus Logic presently has a consensus rating of “Buy” and a consensus price target of $96.43.

Cirrus Logic Price Performance

Shares of CRUS stock opened at $82.02 on Friday. The company has a market capitalization of $4.42 billion, a price-to-earnings ratio of 26.04 and a beta of 1.00. Cirrus Logic has a one year low of $65.02 and a one year high of $95.87. The company’s fifty day moving average price is $90.47 and its 200-day moving average price is $81.76.

Cirrus Logic (NASDAQ:CRUS) last posted its earnings results on Tuesday, February 6th. The semiconductor company reported $2.53 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.83. The company had revenue of $618.98 million during the quarter, compared to analysts’ expectations of $539.55 million. Cirrus Logic had a net margin of 9.84% and a return on equity of 16.13%. Equities research analysts expect that Cirrus Logic will post 4.79 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cirrus Logic news, SVP Justin E. Dougherty sold 3,280 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $91.40, for a total transaction of $299,792.00. Following the sale, the senior vice president now owns 6,000 shares of the company’s stock, valued at approximately $548,400. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Cirrus Logic news, SVP Justin E. Dougherty sold 3,280 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $91.40, for a total transaction of $299,792.00. Following the sale, the senior vice president now owns 6,000 shares of the company’s stock, valued at approximately $548,400. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Venkatesh Nathamuni sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $95.00, for a total transaction of $95,000.00. Following the sale, the chief financial officer now directly owns 1,587 shares in the company, valued at approximately $150,765. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,530 shares of company stock valued at $700,292. Insiders own 0.89% of the company’s stock.

Institutional Trading of Cirrus Logic

Several large investors have recently made changes to their positions in CRUS. Mackenzie Financial Corp lifted its stake in shares of Cirrus Logic by 1.5% in the 4th quarter. Mackenzie Financial Corp now owns 2,485,746 shares of the semiconductor company’s stock valued at $206,789,000 after purchasing an additional 35,722 shares during the period. UBS Group AG lifted its stake in shares of Cirrus Logic by 86.9% in the 3rd quarter. UBS Group AG now owns 61,811 shares of the semiconductor company’s stock valued at $4,572,000 after purchasing an additional 28,735 shares during the period. FMR LLC lifted its stake in shares of Cirrus Logic by 4.5% in the 3rd quarter. FMR LLC now owns 7,552,630 shares of the semiconductor company’s stock valued at $558,593,000 after purchasing an additional 327,269 shares during the period. Vanguard Group Inc. lifted its stake in shares of Cirrus Logic by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 6,299,658 shares of the semiconductor company’s stock valued at $465,923,000 after purchasing an additional 105,577 shares during the period. Finally, LSV Asset Management raised its position in Cirrus Logic by 0.9% during the third quarter. LSV Asset Management now owns 1,307,419 shares of the semiconductor company’s stock worth $96,697,000 after acquiring an additional 12,300 shares during the period. 87.96% of the stock is owned by hedge funds and other institutional investors.

Cirrus Logic Company Profile

Cirrus Logic, Inc, a fabless semiconductor company, develops low-power, high-precision mixed-signal processing solutions in China, the United States, and internationally. The company offers audio products, including codecs components that integrate analog-to-digital converters (ADCs) and digital-to-analog converters (DACs) into a single integrated circuit (IC); smart codecs, a codec with digital signal processing; boosted amplifiers; standalone digital signal processors; and SoundClear technology, which consists of a portfolio of tools, software, and algorithms that helps to enhance user experience with features, such as louder, high-fidelity sound, audio playback, voice capture, and hearing augmentation.