BidaskClub upgraded shares of Cirrus Logic (NASDAQ:CRUS) from a strong sell rating to a sell rating in a research note released on Thursday.
Other equities analysts have also recently issued research reports about the company. Cowen boosted their price target on Cirrus Logic from $40.00 to $44.00 and gave the company a market perform rating in a research report on Thursday, August 2nd. Craig Hallum boosted their price target on Cirrus Logic from $43.00 to $51.00 and gave the company a buy rating in a research report on Thursday, August 2nd. ValuEngine cut Cirrus Logic from a sell rating to a strong sell rating in a research report on Friday, August 3rd. Susquehanna Bancshares boosted their price target on Cirrus Logic from $45.00 to $59.00 and gave the company a positive rating in a research report on Thursday, August 2nd. Finally, Zacks Investment Research upgraded Cirrus Logic from a hold rating to a buy rating and set a $48.00 price target on the stock in a research report on Tuesday, August 7th. Five research analysts have rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. Cirrus Logic currently has an average rating of Hold and a consensus price target of $53.24.
NASDAQ CRUS traded down $0.15 during trading on Thursday, reaching $37.07. 579,585 shares of the company’s stock were exchanged, compared to its average volume of 849,127. The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of 10.05, a price-to-earnings-growth ratio of 0.93 and a beta of 0.41. Cirrus Logic has a 1 year low of $34.49 and a 1 year high of $58.80.
In other Cirrus Logic news, Director Timothy R. Dehne sold 4,171 shares of the business’s stock in a transaction that occurred on Sunday, August 26th. The stock was sold at an average price of $44.99, for a total transaction of $187,653.29. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.32% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. grace capital acquired a new stake in shares of Cirrus Logic in the 2nd quarter worth approximately $115,000. Bank of Montreal Can grew its holdings in shares of Cirrus Logic by 88.7% in the 3rd quarter. Bank of Montreal Can now owns 3,388 shares of the semiconductor company’s stock worth $131,000 after acquiring an additional 1,593 shares during the period. First Hawaiian Bank acquired a new stake in shares of Cirrus Logic in the 3rd quarter worth approximately $140,000. Itau Unibanco Holding S.A. grew its holdings in shares of Cirrus Logic by 91.8% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 3,723 shares of the semiconductor company’s stock worth $143,000 after acquiring an additional 1,782 shares during the period. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Cirrus Logic in the 2nd quarter worth approximately $216,000. Institutional investors own 88.77% of the company’s stock.
Cirrus Logic Company Profile
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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