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

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

CRUS has been the topic of several other reports. Susquehanna upped 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. Barclays increased their price target on Cirrus Logic from $90.00 to $95.00 and gave the stock an overweight rating in a research report on Tuesday, January 16th. TheStreet raised Cirrus Logic from a c+ rating to a b- rating in a report on Tuesday, January 23rd. Stifel Nicolaus raised their target price on Cirrus Logic from $95.00 to $100.00 and gave the stock a buy rating in a report on Wednesday, February 7th. Finally, TD Cowen boosted their price target on Cirrus Logic from $90.00 to $100.00 and gave the company an outperform rating in a report on Wednesday, February 7th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Buy and a consensus target price of $96.43.

Cirrus Logic Price Performance

Shares of CRUS opened at $86.97 on Friday. The company’s fifty day moving average price is $90.83 and its 200-day moving average price is $81.44. Cirrus Logic has a 1-year low of $65.02 and a 1-year high of $95.87. The firm has a market capitalization of $4.69 billion, a PE ratio of 27.61 and a beta of 1.00.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly 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. Cirrus Logic had a return on equity of 16.13% and a net margin of 9.84%. The business had revenue of $618.98 million for the quarter, compared to the consensus estimate of $539.55 million. As a group, research analysts anticipate that Cirrus Logic will post 4.79 EPS for the current fiscal year.

Insider Buying and Selling at Cirrus Logic

In other news, CFO Venkatesh Nathamuni sold 1,000 shares of the company’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 completion of the transaction, the chief financial officer now directly owns 1,587 shares of the company’s stock, valued at approximately $150,765. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, SVP Justin E. Dougherty sold 3,280 shares of Cirrus Logic stock in a transaction dated Thursday, February 22nd. The stock was 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 in the company, valued at approximately $548,400. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Venkatesh Nathamuni sold 1,000 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were 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 of the company’s stock, valued at approximately $150,765. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,530 shares of company stock valued at $700,292. Company insiders own 0.89% of the company’s stock.

Institutional Trading of Cirrus Logic

A number of institutional investors have recently made changes to their positions in the company. Venturi Wealth Management LLC boosted its stake in Cirrus Logic by 93.7% during the 4th quarter. Venturi Wealth Management LLC now owns 368 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 178 shares during the last quarter. Covington Capital Management raised its holdings in Cirrus Logic by 100.0% in the 3rd quarter. Covington Capital Management now owns 400 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 200 shares during the last quarter. Atlas Capital Advisors LLC lifted its stake in Cirrus Logic by 103.0% in the 1st quarter. Atlas Capital Advisors LLC now owns 402 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 204 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of Cirrus Logic by 72.3% during the 4th quarter. Quadrant Capital Group LLC now owns 510 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 214 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its position 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 buying an additional 300 shares in the last quarter. 87.96% of the stock is owned by institutional investors and hedge funds.

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.