Several other research firms have also issued reports on CRUS. Oppenheimer started coverage on shares of Cirrus Logic in a report on Wednesday, August 12th. They issued a hold rating for the company. ValuEngine upgraded shares of Cirrus Logic from a sell rating to a hold rating in a report on Monday, August 3rd. TheStreet upgraded shares of Cirrus Logic from a c rating to a b- rating in a report on Tuesday, August 4th. Barclays upgraded shares of Cirrus Logic from an underweight rating to an equal weight rating and raised their target price for the stock from $60.00 to $65.00 in a report on Monday, September 14th. Finally, 140166 lifted their price objective on shares of Cirrus Logic from $78.00 to $86.00 in a report on Tuesday, August 4th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has an average rating of Buy and an average target price of $80.13.
Shares of NASDAQ:CRUS opened at $69.16 on Friday. Cirrus Logic has a 52 week low of $47.04 and a 52 week high of $91.63. The stock has a market capitalization of $4.04 billion, a P/E ratio of 24.10, a PEG ratio of 3.56 and a beta of 0.80. The firm has a fifty day simple moving average of $63.96 and a two-hundred day simple moving average of $65.76.
In related news, Director John C. Carter sold 625 shares of Cirrus Logic stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $73.99, for a total transaction of $46,243.75. Following the completion of the sale, the director now owns 15,656 shares in the company, valued at approximately $1,158,387.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.83% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of CRUS. Private Advisor Group LLC purchased a new position in Cirrus Logic during the 2nd quarter valued at about $25,000. Fifth Third Bancorp increased its position in Cirrus Logic by 29.7% during the 2nd quarter. Fifth Third Bancorp now owns 1,763 shares of the semiconductor company’s stock valued at $109,000 after purchasing an additional 404 shares during the period. Captrust Financial Advisors increased its position in Cirrus Logic by 103.3% during the 2nd quarter. Captrust Financial Advisors now owns 1,911 shares of the semiconductor company’s stock valued at $115,000 after purchasing an additional 971 shares during the period. Assetmark Inc. increased its position in Cirrus Logic by 9,819.2% during the 2nd quarter. Assetmark Inc. now owns 2,579 shares of the semiconductor company’s stock valued at $159,000 after purchasing an additional 2,553 shares during the period. Finally, Ovata Capital Management Ltd purchased a new position in Cirrus Logic during the 2nd quarter valued at about $167,000. 86.00% of the stock is currently 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.
See Also: Rule of 72
Receive News & Ratings for Cirrus Logic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cirrus Logic and related companies with MarketBeat.com's FREE daily email newsletter.