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

StockNews.com upgraded shares of Cirrus Logic (NASDAQ:CRUSFree Report) from a hold rating to a buy rating in a report published on Friday.

CRUS has been the topic of a number of other reports. Stifel Nicolaus raised their target price on shares of Cirrus Logic from $95.00 to $100.00 and gave the stock a buy rating in a research note on Wednesday, February 7th. Barclays raised their target price on shares of Cirrus Logic from $90.00 to $95.00 and gave the stock an overweight rating in a research note on Tuesday, January 16th. Loop Capital raised shares of Cirrus Logic from a hold rating to a buy rating and raised their target price for the stock from $83.00 to $100.00 in a research note on Wednesday, November 1st. Susquehanna raised their target price on shares of Cirrus Logic from $85.00 to $100.00 and gave the stock a positive rating in a research note on Wednesday, February 7th. Finally, KeyCorp decreased their price objective on Cirrus Logic from $110.00 to $100.00 and set an overweight rating on the stock in a report on Friday, November 3rd. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, Cirrus Logic has a consensus rating of Buy and a consensus target price of $96.43.

Check Out Our Latest Stock Analysis on CRUS

Cirrus Logic Trading Down 1.0 %

Shares of Cirrus Logic stock opened at $92.14 on Friday. The firm has a market capitalization of $4.97 billion, a PE ratio of 29.25, a P/E/G ratio of 18.56 and a beta of 0.98. Cirrus Logic has a twelve month low of $65.02 and a twelve month high of $111.15. The firm’s 50-day moving average price is $81.59 and its 200 day moving average price is $77.23.

Insider Transactions at Cirrus Logic

In other news, CFO Venkatesh Nathamuni sold 1,000 shares of the stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 1,587 shares in the company, valued at approximately $150,765. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, VP Andrew Brannan sold 3,250 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $94.00, for a total transaction of $305,500.00. Following the transaction, the vice president now owns 6,055 shares of the company’s stock, valued at approximately $569,170. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Venkatesh Nathamuni sold 1,000 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $95.00, for a total value of $95,000.00. Following the transaction, 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. Company insiders own 0.89% of the company’s stock.

Hedge Funds Weigh In On Cirrus Logic

Several hedge funds have recently bought and sold shares of the company. FMR LLC lifted its stake in Cirrus Logic by 4.5% during the 3rd quarter. FMR LLC now owns 7,552,630 shares of the semiconductor company’s stock worth $558,593,000 after acquiring an additional 327,269 shares in the last quarter. Vanguard Group Inc. lifted its stake in Cirrus Logic by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 6,299,658 shares of the semiconductor company’s stock worth $465,923,000 after acquiring an additional 105,577 shares in the last quarter. Mackenzie Financial Corp raised its position in Cirrus Logic by 5.9% in the 4th quarter. Mackenzie Financial Corp now owns 2,891,480 shares of the semiconductor company’s stock valued at $215,357,000 after purchasing an additional 160,832 shares in the last quarter. State Street Corp raised its position in Cirrus Logic by 7.0% in the 2nd quarter. State Street Corp now owns 2,103,952 shares of the semiconductor company’s stock valued at $170,441,000 after purchasing an additional 137,227 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in Cirrus Logic by 183.8% in the 1st quarter. Wellington Management Group LLP now owns 1,972,087 shares of the semiconductor company’s stock valued at $167,214,000 after purchasing an additional 1,277,213 shares in the last quarter. Institutional investors and hedge funds own 90.18% of the company’s stock.

Cirrus Logic Company Profile

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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.

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Analyst Recommendations for Cirrus Logic (NASDAQ:CRUS)

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