BidaskClub lowered shares of Cirrus Logic (NASDAQ:CRUS) from a hold rating to a sell rating in a report released on Thursday.

Other analysts have also issued reports about the stock. Stifel Nicolaus reissued a buy rating on shares of Cirrus Logic in a research report on Wednesday, September 13th. Zacks Investment Research raised shares of Cirrus Logic from a hold rating to a buy rating and set a $62.00 price objective on the stock in a research report on Tuesday, October 3rd. ValuEngine raised shares of Cirrus Logic from a hold rating to a buy rating in a research report on Monday, October 2nd. Canaccord Genuity reaffirmed a buy rating and set a $76.00 target price on shares of Cirrus Logic in a research report on Tuesday, September 19th. Finally, Northland Securities reaffirmed a buy rating on shares of Cirrus Logic in a research report on Friday, November 3rd. Five analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. Cirrus Logic presently has a consensus rating of Hold and a consensus target price of $65.76.

Cirrus Logic (NASDAQ:CRUS) traded up $0.50 during trading on Thursday, reaching $52.84. 531,700 shares of the company were exchanged, compared to its average volume of 761,956. Cirrus Logic has a 12 month low of $48.61 and a 12 month high of $71.97. The stock has a market cap of $3,360.00 and a price-to-earnings ratio of 12.92.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings data on Thursday, November 2nd. The semiconductor company reported $1.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.16. Cirrus Logic had a net margin of 17.11% and a return on equity of 25.37%. The company had revenue of $425.50 million for the quarter, compared to analyst estimates of $410.32 million. During the same period in the prior year, the company posted $1.35 EPS. The firm’s revenue for the quarter was down .7% on a year-over-year basis. equities research analysts forecast that Cirrus Logic will post 4.21 EPS for the current fiscal year.

In other news, Director Christine King sold 562 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $49.75, for a total transaction of $27,959.50. Following the transaction, the director now directly owns 11,744 shares of the company’s stock, valued at $584,264. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 6,123 shares of company stock worth $328,718. Corporate insiders own 1.92% of the company’s stock.

Several large investors have recently modified their holdings of CRUS. State Street Corp boosted its stake in shares of Cirrus Logic by 2.2% during the second quarter. State Street Corp now owns 2,274,959 shares of the semiconductor company’s stock valued at $142,688,000 after purchasing an additional 48,716 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Cirrus Logic by 9.4% during the third quarter. Bank of New York Mellon Corp now owns 1,637,193 shares of the semiconductor company’s stock valued at $87,293,000 after purchasing an additional 140,460 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Cirrus Logic by 3.4% during the second quarter. Northern Trust Corp now owns 1,212,478 shares of the semiconductor company’s stock valued at $76,047,000 after purchasing an additional 40,264 shares in the last quarter. Prudential Financial Inc. boosted its stake in shares of Cirrus Logic by 69.6% during the third quarter. Prudential Financial Inc. now owns 967,033 shares of the semiconductor company’s stock valued at $51,562,000 after purchasing an additional 396,890 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. boosted its stake in shares of Cirrus Logic by 187.2% during the third quarter. Old Mutual Global Investors UK Ltd. now owns 870,484 shares of the semiconductor company’s stock valued at $46,414,000 after purchasing an additional 567,354 shares in the last quarter. 89.34% of the stock is currently owned by institutional investors and hedge funds.

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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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