Cirrus Logic, Inc. (NASDAQ:CRUS) has been assigned an average rating of “Buy” from the eighteen ratings firms that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $65.74.

CRUS has been the subject of several research analyst reports. BidaskClub lowered Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 2nd. Zacks Investment Research raised Cirrus Logic from a “hold” rating to a “buy” rating and set a $62.00 target price for the company in a research report on Tuesday, October 3rd. Canaccord Genuity reaffirmed a “buy” rating and set a $76.00 target price on shares of Cirrus Logic in a research report on Friday, November 3rd. Craig Hallum reaffirmed a “hold” rating on shares of Cirrus Logic in a research report on Wednesday, September 13th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $75.00 target price on shares of Cirrus Logic in a research report on Thursday, August 3rd.

In other Cirrus Logic news, Director Christine King sold 5,000 shares of Cirrus Logic stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $57.42, for a total value of $287,100.00. Following the transaction, the director now directly owns 16,182 shares of the company’s stock, valued at approximately $929,170.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Bradley J. Fluke sold 7,325 shares of Cirrus Logic stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $53.44, for a total value of $391,448.00. Following the completion of the transaction, the vice president now directly owns 12,000 shares in the company, valued at $641,280. The disclosure for this sale can be found here. Insiders sold a total of 22,863 shares of company stock worth $1,251,735 over the last ninety days. Insiders own 1.92% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Hanseatic Management Services Inc. boosted its position in shares of Cirrus Logic by 0.3% during the second quarter. Hanseatic Management Services Inc. now owns 29,468 shares of the semiconductor company’s stock valued at $1,848,000 after purchasing an additional 75 shares in the last quarter. Teacher Retirement System of Texas boosted its position in shares of Cirrus Logic by 1.5% during the second quarter. Teacher Retirement System of Texas now owns 5,118 shares of the semiconductor company’s stock valued at $321,000 after purchasing an additional 76 shares in the last quarter. World Asset Management Inc boosted its position in shares of Cirrus Logic by 2.7% during the second quarter. World Asset Management Inc now owns 4,071 shares of the semiconductor company’s stock valued at $255,000 after purchasing an additional 106 shares in the last quarter. Capstone Asset Management Co. boosted its position in shares of Cirrus Logic by 3.3% during the second quarter. Capstone Asset Management Co. now owns 8,559 shares of the semiconductor company’s stock valued at $537,000 after purchasing an additional 270 shares in the last quarter. Finally, Suntrust Banks Inc. boosted its position in shares of Cirrus Logic by 2.5% during the second quarter. Suntrust Banks Inc. now owns 12,253 shares of the semiconductor company’s stock valued at $767,000 after purchasing an additional 298 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Cirrus Logic (NASDAQ:CRUS) traded down $0.48 during midday trading on Friday, reaching $56.45. The company had a trading volume of 660,449 shares, compared to its average volume of 1,148,680. The stock has a market cap of $3,579.25, a price-to-earnings ratio of 12.84, a P/E/G ratio of 1.47 and a beta of 0.05. Cirrus Logic has a twelve month low of $49.05 and a twelve month high of $71.97.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results on Thursday, November 2nd. The semiconductor company reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.16. The business had revenue of $425.50 million during the quarter, compared to analyst estimates of $410.32 million. Cirrus Logic had a return on equity of 25.37% and a net margin of 17.11%. Cirrus Logic’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.35 EPS. sell-side analysts expect that Cirrus Logic will post 4.21 EPS for the current fiscal year.

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Cirrus Logic Company Profile

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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