Cirrus Logic (CRUS) Upgraded to “Sell” by BidaskClub

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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.

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

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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Analyst Recommendations for Cirrus Logic (NASDAQ:CRUS)

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