Cirrus Logic, Inc. (CRUS) Receives $50.80 Consensus PT from Brokerages

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Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) have earned an average rating of “Hold” from the fifteen research firms that are currently covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $50.80.

CRUS has been the subject of several analyst reports. BidaskClub raised shares of Cirrus Logic from a “sell” rating to a “hold” rating in a report on Saturday, June 16th. Zacks Investment Research raised shares of Cirrus Logic from a “sell” rating to a “hold” rating in a report on Tuesday, July 3rd. ValuEngine raised shares of Cirrus Logic from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 25th. Cowen raised their price objective on shares of Cirrus Logic from $40.00 to $44.00 and gave the stock a “market perform” rating in a report on Thursday, August 2nd. Finally, Craig Hallum raised their price objective on shares of Cirrus Logic from $43.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, August 2nd.

In other Cirrus Logic news, Director Timothy R. Dehne sold 4,171 shares of the firm’s stock in a transaction on Sunday, August 26th. The shares were sold at an average price of $44.99, for a total value of $187,653.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.32% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in the business. Bank of America Corp DE boosted its holdings in Cirrus Logic by 0.6% in the 2nd quarter. Bank of America Corp DE now owns 227,011 shares of the semiconductor company’s stock valued at $8,701,000 after purchasing an additional 1,254 shares during the period. Aurora Investment Counsel boosted its holdings in Cirrus Logic by 2.4% in the 2nd quarter. Aurora Investment Counsel now owns 53,598 shares of the semiconductor company’s stock valued at $2,054,000 after purchasing an additional 1,270 shares during the period. Bank of Montreal Can boosted its holdings in Cirrus Logic by 88.7% in the 3rd quarter. Bank of Montreal Can now owns 3,388 shares of the semiconductor company’s stock valued at $131,000 after purchasing an additional 1,593 shares during the period. OppenheimerFunds Inc. lifted its holdings in shares of Cirrus Logic by 15.5% during the 2nd quarter. OppenheimerFunds Inc. now owns 11,889 shares of the semiconductor company’s stock worth $456,000 after acquiring an additional 1,597 shares during the last quarter. Finally, Profund Advisors LLC lifted its holdings in shares of Cirrus Logic by 6.8% during the 1st quarter. Profund Advisors LLC now owns 25,008 shares of the semiconductor company’s stock worth $1,016,000 after acquiring an additional 1,602 shares during the last quarter. 92.03% of the stock is owned by hedge funds and other institutional investors.

Shares of CRUS stock opened at $35.29 on Wednesday. Cirrus Logic has a 12-month low of $34.49 and a 12-month high of $58.80. The company has a market cap of $2.36 billion, a PE ratio of 9.56, a P/E/G ratio of 0.97 and a beta of 0.41.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings data on Wednesday, August 1st. The semiconductor company reported $0.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.36. The company had revenue of $254.48 million during the quarter, compared to the consensus estimate of $231.38 million. Cirrus Logic had a net margin of 7.83% and a return on equity of 17.46%. Cirrus Logic’s revenue for the quarter was down 20.7% on a year-over-year basis. During the same period last year, the firm earned $0.81 EPS. As a group, research analysts expect that Cirrus Logic will post 2.66 earnings per share for the current year.

About Cirrus Logic

Cirrus Logic, Inc, a fabless semiconductor company, develops, manufactures, and markets analog and mixed-signal integrated circuits (ICs) for a range of consumer and industrial markets. The company offers portable and non-portable audio, and other products. Its products include analog and mixed-signal audio converters, and digital signal processing products for mobile applications; codecs-chips that integrate analog-to-digital converters and digital-to-analog converters into a single IC; smart codecs, a codec with digital signal processer; boosted amplifiers; micro-electromechanical systems microphones; digital interface products; and standalone digital signal processors.

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Analyst Recommendations for Cirrus Logic (NASDAQ:CRUS)

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