StockNews.com Downgrades Cirrus Logic (NASDAQ:CRUS) to Buy

Cirrus Logic (NASDAQ:CRUS) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Thursday.

CRUS has been the topic of several other reports. Barclays upped their price objective on Cirrus Logic from $95.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, May 8th. Benchmark downgraded Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Thursday, May 16th. Susquehanna upped their price objective on Cirrus Logic from $100.00 to $120.00 and gave the company a “positive” rating in a research report on Wednesday, May 8th. TD Cowen upped their price objective on Cirrus Logic from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Finally, Stifel Nicolaus upped their target price on Cirrus Logic from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Cirrus Logic has a consensus rating of “Moderate Buy” and an average price target of $107.86.

Cirrus Logic Stock Performance

CRUS opened at $125.96 on Thursday. The business’s fifty day moving average is $106.12 and its two-hundred day moving average is $93.01. The company has a market cap of $6.73 billion, a price-to-earnings ratio of 25.55 and a beta of 0.97. Cirrus Logic has a one year low of $65.02 and a one year high of $128.64.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Tuesday, May 7th. The semiconductor company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.48. Cirrus Logic had a return on equity of 16.49% and a net margin of 15.35%. The business had revenue of $371.83 million for the quarter, compared to the consensus estimate of $320.14 million. On average, analysts predict that Cirrus Logic will post 4.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other Cirrus Logic news, Director Alexander M. Davern sold 1,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $115.85, for a total transaction of $115,850.00. Following the completion of the sale, the director now directly owns 19,332 shares in the company, valued at $2,239,612.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Cirrus Logic news, Director Alexander M. Davern sold 1,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $115.85, for a total transaction of $115,850.00. Following the completion of the sale, the director now directly owns 19,332 shares in the company, valued at $2,239,612.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Justin E. Dougherty sold 4,000 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $107.85, for a total value of $431,400.00. Following the completion of the sale, the senior vice president now owns 5,838 shares of the company’s stock, valued at approximately $629,628.30. The disclosure for this sale can be found here. Insiders sold 18,706 shares of company stock worth $2,187,098 over the last three months. 1.02% of the stock is owned by insiders.

Institutional Investors Weigh In On Cirrus Logic

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Cirrus Logic by 2.1% in the first quarter. Vanguard Group Inc. now owns 6,363,188 shares of the semiconductor company’s stock valued at $588,977,000 after buying an additional 128,393 shares in the last quarter. Mackenzie Financial Corp grew its stake in shares of Cirrus Logic by 1.5% in the fourth quarter. Mackenzie Financial Corp now owns 2,485,746 shares of the semiconductor company’s stock valued at $206,789,000 after buying an additional 35,722 shares in the last quarter. LSV Asset Management grew its stake in shares of Cirrus Logic by 8.3% in the first quarter. LSV Asset Management now owns 1,404,407 shares of the semiconductor company’s stock valued at $129,992,000 after buying an additional 107,888 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Cirrus Logic by 2.9% in the fourth quarter. Wellington Management Group LLP now owns 1,368,475 shares of the semiconductor company’s stock valued at $113,843,000 after buying an additional 38,659 shares in the last quarter. Finally, Earnest Partners LLC grew its stake in shares of Cirrus Logic by 4.8% in the first quarter. Earnest Partners LLC now owns 1,318,381 shares of the semiconductor company’s stock valued at $122,029,000 after buying an additional 60,261 shares in the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

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 amplifiers; 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 integrated digital signal processing; 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 for use in smartphones, tablets, laptops, AR/VR headsets, home theater systems, automotive entertainment systems, and professional audio systems.