Cirrus Logic (CRUS) Receiving Somewhat Favorable News Coverage, Study Shows
Media stories about Cirrus Logic (NASDAQ:CRUS) have trended somewhat positive recently, according to Accern. The research group identifies negative and positive press coverage by monitoring more than twenty million news and blog sources. Accern ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. Cirrus Logic earned a media sentiment score of 0.21 on Accern’s scale. Accern also assigned news headlines about the semiconductor company an impact score of 44.6668984767134 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.
These are some of the news headlines that may have impacted Accern Sentiment’s scoring:
- Cirrus Logic, Inc. (CRUS) Investment Down in Latest Report from Dimensional Fund Advisors Lp – Modern Readers (modernreaders.com)
- Cirrus Should Be Fine – Seeking Alpha (seekingalpha.com)
- Cirrus Logic, Inc. (NASDAQ:CRUS) Given Average Recommendation of “Buy” by Brokerages (americanbankingnews.com)
- Cirrus Logic, Inc. (CRUS) CFO Sells $493,783.50 in Stock (americanbankingnews.com)
- Insider Selling: Cirrus Logic, Inc. (NASDAQ:CRUS) VP Sells 53,332 Shares of Stock (americanbankingnews.com)
Shares of Cirrus Logic (NASDAQ:CRUS) opened at 55.13 on Friday. The firm’s 50-day moving average is $62.38 and its 200-day moving average is $61.49. The firm has a market capitalization of $3.52 billion, a price-to-earnings ratio of 12.89 and a beta of 0.01. Cirrus Logic has a 12-month low of $47.01 and a 12-month high of $71.97.
Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings data on Wednesday, August 2nd. The semiconductor company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.15. Cirrus Logic had a net margin of 17.38% and a return on equity of 26.71%. The company had revenue of $320.70 million during the quarter, compared to the consensus estimate of $320.32 million. During the same period in the previous year, the firm earned $0.44 earnings per share. Cirrus Logic’s revenue for the quarter was up 23.6% on a year-over-year basis. Equities research analysts forecast that Cirrus Logic will post $4.74 EPS for the current fiscal year.
CRUS has been the subject of a number of research analyst reports. Stifel Nicolaus increased their price objective on shares of Cirrus Logic from $70.00 to $73.00 and gave the stock a “buy” rating in a research report on Wednesday, May 24th. Vetr raised shares of Cirrus Logic from a “buy” rating to a “strong-buy” rating and set a $66.67 price objective for the company in a research report on Thursday, August 3rd. KeyCorp reaffirmed an “overweight” rating and set a $75.00 price objective on shares of Cirrus Logic in a research report on Wednesday, July 12th. Zacks Investment Research cut shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 price objective on shares of Cirrus Logic in a research report on Friday, April 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $68.59.
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In related news, VP Randolph K. Carlson sold 53,332 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $57.10, for a total value of $3,045,257.20. Following the sale, the vice president now directly owns 27,265 shares of the company’s stock, valued at $1,556,831.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William D. Sherman sold 1,378 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $61.84, for a total transaction of $85,215.52. Following the completion of the sale, the director now directly owns 7,307 shares in the company, valued at $451,864.88. The disclosure for this sale can be found here. Insiders sold 105,719 shares of company stock valued at $6,342,696 over the last 90 days. Insiders own 1.92% of the company’s stock.
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.
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