Cirrus Logic (NASDAQ:CRUS) Downgraded by StockNews.com

StockNews.com lowered shares of Cirrus Logic (NASDAQ:CRUS) from a strong-buy rating to a buy rating in a research report released on Saturday morning.

A number of other brokerages have also recently issued reports on CRUS. Susquehanna boosted their target price on shares of Cirrus Logic from $85.00 to $100.00 and gave the company a positive rating in a research report on Wednesday, February 7th. TD Cowen upped their price objective on shares of Cirrus Logic from $90.00 to $100.00 and gave the stock 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. 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. Finally, TheStreet raised shares of Cirrus Logic from a c+ rating to a b- rating in a research report on Tuesday, January 23rd. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of Buy and an average target price of $96.43.

Cirrus Logic Price Performance

CRUS stock opened at $84.25 on Friday. The company has a fifty day moving average price of $90.22 and a two-hundred day moving average price of $81.94. Cirrus Logic has a one year low of $65.02 and a one year high of $95.87. The stock has a market cap of $4.54 billion, a price-to-earnings ratio of 26.75 and a beta of 1.00.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $2.53 EPS for the quarter, topping 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 firm had revenue of $618.98 million during the quarter, compared to analysts’ expectations of $539.55 million. Research analysts anticipate that Cirrus Logic will post 4.79 EPS for the current fiscal year.

Insider Activity at Cirrus Logic

In related news, VP Andrew Brannan sold 3,250 shares of the company’s 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 sale, the vice president now directly owns 6,055 shares in the company, valued at $569,170. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Justin E. Dougherty sold 3,280 shares of the stock in a transaction on Thursday, February 22nd. The stock was 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 approximately $548,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Andrew Brannan sold 3,250 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $94.00, for a total value of $305,500.00. Following the sale, the vice president now directly owns 6,055 shares of the company’s stock, valued at $569,170. The disclosure for this sale can be found here. Insiders have sold 7,530 shares of company stock worth $700,292 over the last ninety days. Insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On Cirrus Logic

Several large investors have recently added to or reduced their stakes in the company. Venturi Wealth Management LLC boosted its stake in Cirrus Logic by 93.7% in 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 period. Atlas Capital Advisors LLC boosted 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 during the period. Quadrant Capital Group LLC boosted its stake in Cirrus Logic by 72.3% in 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 period. Nisa Investment Advisors LLC boosted its stake in Cirrus Logic by 71.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 722 shares of the semiconductor company’s stock worth $53,000 after purchasing an additional 300 shares during the period. Finally, DekaBank Deutsche Girozentrale bought a new position in Cirrus Logic in the 3rd quarter worth about $62,000. Hedge funds and other institutional investors own 87.96% of the company’s stock.

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.