Cirrus Logic (NASDAQ:CRUS) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Cirrus Logic (NASDAQ:CRUSFree Report) from a hold rating to a buy rating in a report published on Friday.

CRUS has been the topic of several other reports. TD Cowen lifted their price objective on Cirrus Logic from $90.00 to $100.00 and gave the stock an outperform rating in a report on Wednesday, February 7th. Stifel Nicolaus boosted their target price on Cirrus Logic from $95.00 to $100.00 and gave the stock a buy rating in a research report on Wednesday, February 7th. Barclays boosted their target price on Cirrus Logic from $90.00 to $95.00 and gave the company an overweight rating in a research note on Tuesday, January 16th. Loop Capital upgraded Cirrus Logic from a hold rating to a buy rating and upped their price target for the stock from $83.00 to $100.00 in a research note on Wednesday, November 1st. Finally, TheStreet upgraded Cirrus Logic from a c+ rating to a b- rating in a research note on Tuesday, January 23rd. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, Cirrus Logic has a consensus rating of Buy and a consensus target price of $96.43.

View Our Latest Stock Analysis on Cirrus Logic

Cirrus Logic Price Performance

Cirrus Logic stock opened at $92.14 on Friday. The stock’s 50-day moving average is $81.59 and its 200-day moving average is $77.23. The company has a market cap of $4.97 billion, a price-to-earnings ratio of 29.25, a price-to-earnings-growth ratio of 18.56 and a beta of 0.98. Cirrus Logic has a 12 month low of $65.02 and a 12 month high of $111.15.

Insiders Place Their Bets

In other news, CFO Venkatesh Nathamuni sold 1,000 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $95.00, for a total transaction of $95,000.00. Following the completion of the sale, the chief financial officer now owns 1,587 shares of the company’s stock, valued at $150,765. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Venkatesh Nathamuni sold 1,000 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. Following the completion of the transaction, the chief financial officer now owns 1,587 shares of the company’s stock, valued at $150,765. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Andrew Brannan sold 3,250 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $94.00, for a total transaction of $305,500.00. Following the completion of the transaction, the vice president now directly owns 6,055 shares of the company’s stock, valued at approximately $569,170. The disclosure for this sale can be found here. Company insiders own 0.89% of the company’s stock.

Institutional Trading of Cirrus Logic

A number of hedge funds have recently modified their holdings of CRUS. Wellington Management Group LLP lifted its stake in shares of Cirrus Logic by 183.8% during the 1st quarter. Wellington Management Group LLP now owns 1,972,087 shares of the semiconductor company’s stock worth $167,214,000 after buying an additional 1,277,213 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Cirrus Logic by 1,389.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 840,607 shares of the semiconductor company’s stock valued at $6,004,000 after purchasing an additional 784,161 shares during the last quarter. Norges Bank bought a new stake in shares of Cirrus Logic during the 4th quarter valued at approximately $51,890,000. FMR LLC grew its holdings in shares of Cirrus Logic by 4.5% during the 3rd quarter. FMR LLC now owns 7,552,630 shares of the semiconductor company’s stock valued at $558,593,000 after purchasing an additional 327,269 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in Cirrus Logic by 8,646.5% during the 4th quarter. Millennium Management LLC now owns 320,820 shares of the semiconductor company’s stock worth $23,895,000 after acquiring an additional 317,152 shares during the last quarter. Institutional investors and hedge funds own 90.18% of the company’s stock.

Cirrus Logic Company Profile

(Get Free Report)

Cirrus Logic, Inc, a fabless semiconductor company, develops low-power, high-precision mixed-signal processing solutions in China, the United States, and internationally. The company offers audio products, including codecs components that integrate analog-to-digital converters (ADCs) and digital-to-analog converters (DACs) into a single integrated circuit (IC); smart codecs, a codec with digital signal processing; boosted amplifiers; standalone digital signal processors; and SoundClear technology, which consists of a portfolio of tools, software, and algorithms that helps to enhance user experience with features, such as louder, high-fidelity sound, audio playback, voice capture, and hearing augmentation.

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Analyst Recommendations for Cirrus Logic (NASDAQ:CRUS)

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