Cirrus Logic (NASDAQ:CRUS) had its target price upped by investment analysts at Benchmark from $70.00 to $80.00 in a research report issued to clients and investors on Friday, The Fly reports. The brokerage presently has a “market weight” rating on the semiconductor company’s stock. Benchmark’s target price suggests a potential upside of 10.03% from the stock’s previous close.
CRUS has been the subject of several other reports. Cowen raised their target price on shares of Cirrus Logic from $56.00 to $62.00 and gave the stock a “market perform” rating in a research report on Thursday, October 31st. Stifel Nicolaus raised their target price on shares of Cirrus Logic from $68.00 to $76.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Bank of America reaffirmed an “underperform” rating and issued a $46.00 target price (up from $40.00) on shares of Cirrus Logic in a research report on Thursday, August 1st. TheStreet raised shares of Cirrus Logic from a “c+” rating to a “b” rating in a research report on Thursday, October 31st. Finally, Barclays raised shares of Cirrus Logic from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $40.00 to $55.00 in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $61.00.
Shares of NASDAQ:CRUS traded up $0.45 during trading on Friday, reaching $72.71. The company had a trading volume of 711,500 shares, compared to its average volume of 978,244. The stock has a market capitalization of $4.18 billion, a P/E ratio of 35.47, a price-to-earnings-growth ratio of 1.77 and a beta of 0.91. The company has a current ratio of 3.38, a quick ratio of 2.63 and a debt-to-equity ratio of 0.11. The company has a fifty day moving average of $59.86 and a two-hundred day moving average of $50.58. Cirrus Logic has a 12 month low of $31.25 and a 12 month high of $73.50.
Cirrus Logic (NASDAQ:CRUS) last posted its earnings results on Wednesday, October 30th. The semiconductor company reported $1.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.61. Cirrus Logic had a net margin of 9.81% and a return on equity of 13.04%. The firm had revenue of $389.00 million during the quarter, compared to analysts’ expectations of $320.37 million. During the same period last year, the company posted $1.08 EPS. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. As a group, equities research analysts predict that Cirrus Logic will post 2.72 earnings per share for the current year.
In related news, Director John C. Carter sold 12,521 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $72.71, for a total value of $910,401.91. Also, VP Scott Arnold Anderson sold 19,818 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $54.78, for a total transaction of $1,085,630.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,339 shares of company stock valued at $3,134,112. Corporate insiders own 2.79% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC bought a new position in shares of Cirrus Logic in the 2nd quarter worth about $33,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Cirrus Logic in the 2nd quarter worth about $44,000. Patriot Financial Group Insurance Agency LLC increased its stake in shares of Cirrus Logic by 160.0% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,300 shares of the semiconductor company’s stock worth $70,000 after acquiring an additional 800 shares in the last quarter. Meeder Asset Management Inc. increased its stake in shares of Cirrus Logic by 210.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 1,525 shares of the semiconductor company’s stock worth $67,000 after acquiring an additional 1,034 shares in the last quarter. Finally, US Bancorp DE increased its stake in shares of Cirrus Logic by 106.1% in the 2nd quarter. US Bancorp DE now owns 2,117 shares of the semiconductor company’s stock worth $92,000 after acquiring an additional 1,090 shares in the last quarter. Institutional investors own 86.49% 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.
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