Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) have been given an average rating of “Hold” by the fifteen brokerages that are presently covering the stock, Marketbeat.com reports. 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 company. The average 12-month price objective among brokerages that have covered the stock in the last year is $50.80.
CRUS has been the topic of a number of research reports. BidaskClub raised shares of Cirrus Logic from a “sell” rating to a “hold” rating in a research note on Thursday, July 12th. ValuEngine lowered shares of Cirrus Logic from a “hold” rating to a “sell” rating in a research note on Wednesday, September 12th. Zacks Investment Research raised shares of Cirrus Logic from a “sell” rating to a “hold” rating in a research note on Tuesday, July 3rd. Finally, Bank of America boosted their price objective on shares of Cirrus Logic from $28.00 to $33.00 and gave the stock an “underperform” rating in a research note on Thursday, August 2nd.
CRUS stock opened at $35.29 on Wednesday. Cirrus Logic has a 12-month low of $34.49 and a 12-month high of $58.80. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of 9.56, a PEG ratio of 0.97 and a beta of 0.41.
Cirrus Logic (NASDAQ:CRUS) last announced its earnings results on Wednesday, August 1st. The semiconductor company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.36. The firm had revenue of $254.48 million for the quarter, compared to analyst estimates of $231.38 million. Cirrus Logic had a net margin of 7.83% and a return on equity of 17.46%. The company’s revenue for the quarter was down 20.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.81 EPS. As a group, equities research analysts expect that Cirrus Logic will post 2.66 EPS for the current fiscal year.
In other news, Director Timothy R. Dehne sold 4,171 shares of the company’s stock in a transaction that occurred on Sunday, August 26th. The shares were sold at an average price of $44.99, for a total value of $187,653.29. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 2.32% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of CRUS. grace capital bought a new position in shares of Cirrus Logic in the second quarter worth approximately $115,000. Bank of Montreal Can lifted its stake in shares of Cirrus Logic by 88.7% in the third quarter. Bank of Montreal Can now owns 3,388 shares of the semiconductor company’s stock worth $131,000 after buying an additional 1,593 shares in the last quarter. Itau Unibanco Holding S.A. lifted its stake in shares of Cirrus Logic by 91.8% in the second quarter. Itau Unibanco Holding S.A. now owns 3,723 shares of the semiconductor company’s stock worth $143,000 after buying an additional 1,782 shares in the last quarter. Fox Run Management L.L.C. bought a new position in shares of Cirrus Logic in the second quarter worth approximately $216,000. Finally, Hikari Power Ltd bought a new position in shares of Cirrus Logic in the second quarter worth approximately $250,000. Hedge funds and other institutional investors own 92.03% of the company’s stock.
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.
Further Reading: Stock Symbols and CUSIP Explained
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