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

Cirrus Logic (NASDAQ:CRUS) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Wednesday.

A number of other equities analysts also recently weighed in on CRUS. Barclays upped their price target on shares of Cirrus Logic from $95.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday. TheStreet upgraded Cirrus Logic from a “c+” rating to a “b-” rating in a report on Tuesday, January 23rd. Stifel Nicolaus boosted their price target on Cirrus Logic from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday. KeyCorp raised their price objective on shares of Cirrus Logic from $100.00 to $120.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Susquehanna boosted their target price on shares of Cirrus Logic from $100.00 to $120.00 and gave the stock a “positive” rating in a research report on Wednesday. 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 company presently has a consensus rating of “Buy” and an average price target of $107.86.

Cirrus Logic Stock Up 12.2 %

Shares of CRUS stock traded up $11.11 during trading hours on Wednesday, reaching $102.24. 1,550,550 shares of the stock traded hands, compared to its average volume of 427,027. Cirrus Logic has a 1-year low of $65.02 and a 1-year high of $103.30. The business has a fifty day moving average price of $89.88 and a 200 day moving average price of $83.31. The firm has a market capitalization of $5.51 billion, a PE ratio of 32.46 and a beta of 0.99.

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

Insider Buying and Selling

In related news, SVP Justin E. Dougherty sold 3,280 shares of Cirrus Logic stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $91.40, for a total value of $299,792.00. Following the transaction, the senior vice president now owns 6,000 shares in the company, valued at approximately $548,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Andrew Brannan sold 3,250 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $94.00, for a total value of $305,500.00. Following the completion of the sale, the vice president now directly owns 6,055 shares of the company’s stock, valued at $569,170. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Justin E. Dougherty sold 3,280 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $91.40, for a total value of $299,792.00. Following the completion of the sale, the senior vice president now directly owns 6,000 shares of the company’s stock, valued at $548,400. The disclosure for this sale can be found here. In the last three months, insiders sold 7,530 shares of company stock valued at $700,292. Company insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CRUS. Xponance Inc. lifted its position in Cirrus Logic by 10.4% in the third quarter. Xponance Inc. now owns 7,407 shares of the semiconductor company’s stock worth $548,000 after purchasing an additional 696 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Cirrus Logic by 17.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,511 shares of the semiconductor company’s stock worth $777,000 after acquiring an additional 1,527 shares in the last quarter. Strs Ohio raised its stake in Cirrus Logic by 41.8% during the third quarter. Strs Ohio now owns 24,337 shares of the semiconductor company’s stock worth $1,799,000 after acquiring an additional 7,179 shares in the last quarter. Inspire Investing LLC raised its stake in Cirrus Logic by 10.1% during the third quarter. Inspire Investing LLC now owns 4,744 shares of the semiconductor company’s stock worth $351,000 after acquiring an additional 434 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in Cirrus Logic by 71.1% during the third quarter. Nisa Investment Advisors LLC now owns 722 shares of the semiconductor company’s stock worth $53,000 after acquiring an additional 300 shares in the last quarter. 87.96% of the stock is owned by 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.