Cirrus Logic, Inc. (CRUS) Given Average Rating of “Hold” by Brokerages

Cirrus Logic, Inc. (NASDAQ:CRUS) has received a consensus rating of “Hold” from the fifteen ratings firms that are covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $56.58.

Several research firms have recently issued reports on CRUS. Zacks Investment Research upgraded shares of Cirrus Logic from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 10th. ValuEngine cut shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Friday, March 23rd. BidaskClub raised shares of Cirrus Logic from a “strong sell” rating to a “sell” rating in a research note on Tuesday, March 13th. MKM Partners lowered their target price on shares of Cirrus Logic to $54.00 and set a “buy” rating on the stock in a research note on Tuesday, February 6th. Finally, Northland Securities reissued a “buy” rating and issued a $60.00 target price on shares of Cirrus Logic in a research note on Tuesday, February 6th.

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NASDAQ:CRUS opened at $39.60 on Wednesday. Cirrus Logic has a 52-week low of $37.47 and a 52-week high of $71.97. The stock has a market cap of $2,504.24, a PE ratio of 9.66, a P/E/G ratio of 1.36 and a beta of 0.22.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings data on Monday, February 5th. The semiconductor company reported $1.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.78 by ($0.19). Cirrus Logic had a return on equity of 22.60% and a net margin of 11.89%. The company had revenue of $482.70 million for the quarter, compared to the consensus estimate of $530.99 million. During the same quarter in the previous year, the firm posted $1.87 EPS. The business’s revenue for the quarter was down 7.7% compared to the same quarter last year. equities research analysts forecast that Cirrus Logic will post 3.78 earnings per share for the current year.

Cirrus Logic announced that its board has authorized a share buyback plan on Monday, February 5th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the semiconductor company to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

In related news, VP Randolph K. Carlson sold 7,265 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $42.03, for a total value of $305,347.95. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last three months, insiders sold 7,941 shares of company stock worth $335,140. 1.92% of the stock is currently owned by insiders.

Large investors have recently added to or reduced their stakes in the business. Amundi Pioneer Asset Management Inc. acquired a new position in Cirrus Logic in the fourth quarter valued at about $100,000. Delpha Capital Management LLC acquired a new position in Cirrus Logic in the fourth quarter valued at about $161,000. Capital Fund Management S.A. acquired a new position in Cirrus Logic in the fourth quarter valued at about $200,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Cirrus Logic by 43.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,401 shares of the semiconductor company’s stock valued at $228,000 after buying an additional 1,333 shares in the last quarter. Finally, Kendall Capital Management acquired a new position in Cirrus Logic in the fourth quarter valued at about $256,000. Hedge funds and other institutional investors own 91.46% of the company’s stock.

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About Cirrus Logic

Cirrus Logic, Inc is engaged in providing integrated circuits (ICs) for audio and voice signal processing applications. The Company develops analog and mixed-signal ICs for a range of customers. The Company offers two product lines: Portable Audio, and Non-Portable Audio and Other. The Company’s primary facility housing engineering, sales and marketing, and administration functions is located in Austin, Texas.

Analyst Recommendations for Cirrus Logic (NASDAQ:CRUS)

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