Cirrus Logic (CRUS) Lifted to Sell at BidaskClub
BidaskClub upgraded shares of Cirrus Logic (NASDAQ:CRUS) from a strong sell rating to a sell rating in a report released on Thursday morning.
Several other research firms have also recently commented on CRUS. ValuEngine cut Cirrus Logic from a sell rating to a strong sell rating in a research note on Friday, August 3rd. Bank of America lifted their target price on Cirrus Logic from $28.00 to $33.00 and gave the company an underperform rating in a research note on Thursday, August 2nd. Susquehanna Bancshares lifted their target price on Cirrus Logic from $45.00 to $59.00 and gave the company a positive rating in a research note on Thursday, August 2nd. Craig Hallum lifted their target price on Cirrus Logic from $43.00 to $51.00 and gave the company a buy rating in a research note on Thursday, August 2nd. Finally, Zacks Investment Research raised Cirrus Logic from a hold rating to a buy rating and set a $48.00 target price for the company in a research note on Tuesday, August 7th. Five investment analysts have rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $53.24.
NASDAQ CRUS opened at $37.07 on Thursday. The firm has a market capitalization of $2.26 billion, a PE ratio of 10.05, a PEG ratio of 0.93 and a beta of 0.41. Cirrus Logic has a 52 week low of $34.49 and a 52 week high of $58.80.
In related news, Director Timothy R. Dehne sold 4,171 shares of Cirrus Logic stock in a transaction on Sunday, August 26th. The stock was sold at an average price of $44.99, for a total transaction of $187,653.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.32% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in CRUS. grace capital acquired a new stake in shares of Cirrus Logic during the second quarter worth $115,000. Bank of Montreal Can grew its stake in shares of Cirrus Logic by 88.7% during the third quarter. Bank of Montreal Can now owns 3,388 shares of the semiconductor company’s stock worth $131,000 after purchasing an additional 1,593 shares during the period. First Hawaiian Bank acquired a new stake in shares of Cirrus Logic during the third quarter worth $140,000. Itau Unibanco Holding S.A. grew its stake in shares of Cirrus Logic by 91.8% during the second quarter. Itau Unibanco Holding S.A. now owns 3,723 shares of the semiconductor company’s stock worth $143,000 after purchasing an additional 1,782 shares during the period. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Cirrus Logic during the second quarter worth $216,000. 88.77% of the stock is owned by institutional investors and hedge funds.
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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