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.

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

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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Analyst Recommendations for Cirrus Logic (NASDAQ:CRUS)

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