Cirrus Logic (NASDAQ:CRUS) Upgraded to “Strong-Buy” by StockNews.com

StockNews.com upgraded shares of Cirrus Logic (NASDAQ:CRUS) from a buy rating to a strong-buy rating in a report published on Friday.

Several other brokerages have also recently issued reports on CRUS. Susquehanna upped their target price 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. TheStreet upgraded shares of Cirrus Logic from a c+ rating to a b- rating in a research report on Tuesday, January 23rd. TD Cowen upped their price target on shares of Cirrus Logic from $90.00 to $100.00 and gave the company an outperform rating in a research report on Wednesday, February 7th. Barclays upped their price objective on shares of Cirrus Logic from $90.00 to $95.00 and gave the stock an overweight rating in a research report on Tuesday, January 16th. Finally, Stifel Nicolaus upped their price objective on shares of Cirrus Logic from $95.00 to $100.00 and gave the stock a buy rating in a research report on Wednesday, February 7th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Buy and a consensus price target of $96.43.

Cirrus Logic Stock Down 2.5 %

NASDAQ CRUS opened at $88.56 on Friday. Cirrus Logic has a 52 week low of $65.02 and a 52 week high of $95.87. The stock has a market capitalization of $4.77 billion, a PE ratio of 28.11 and a beta of 1.00. The firm has a 50 day moving average of $90.67 and a two-hundred day moving average of $81.21.

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

Insider Transactions at Cirrus Logic

In other news, SVP Justin E. Dougherty sold 3,280 shares of the company’s stock in a transaction 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 transaction, the senior vice president now directly owns 6,000 shares of the company’s stock, valued at approximately $548,400. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, SVP Justin E. Dougherty sold 3,280 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $91.40, for a total value of $299,792.00. Following the sale, the senior vice president now directly owns 6,000 shares of the company’s stock, valued at approximately $548,400. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Andrew Brannan sold 3,250 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $94.00, for a total transaction of $305,500.00. Following the completion of the sale, the vice president now directly owns 6,055 shares in the company, valued at $569,170. The disclosure for this sale can be found here. Insiders have sold a total of 7,530 shares of company stock valued at $700,292 in the last ninety days. 0.89% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cirrus Logic

Several hedge funds have recently modified their holdings of the company. Roble Belko & Company Inc purchased a new position in shares of Cirrus Logic during the 1st quarter worth about $185,000. Wellington Management Group LLP lifted its holdings in shares of Cirrus Logic by 2.9% during the 4th quarter. Wellington Management Group LLP now owns 1,368,475 shares of the semiconductor company’s stock worth $113,843,000 after acquiring an additional 38,659 shares during the period. GSA Capital Partners LLP purchased a new position in Cirrus Logic in the fourth quarter valued at approximately $2,163,000. GTS Securities LLC purchased a new position in Cirrus Logic in the fourth quarter valued at approximately $256,000. Finally, Mercer Global Advisors Inc. ADV raised its holdings in Cirrus Logic by 36.2% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 5,392 shares of the semiconductor company’s stock valued at $449,000 after buying an additional 1,432 shares during the period. 87.96% of the stock is owned by institutional investors and hedge funds.

About Cirrus Logic

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.