Needham & Company LLC restated their buy rating on shares of Cirrus Logic, Inc. (NASDAQ:CRUS) in a research note issued to investors on Friday. They currently have a $80.00 price target on the semiconductor company’s stock.

Several other research firms have also commented on CRUS. Bank of America Corporation started coverage on Cirrus Logic in a report on Monday, September 18th. They set an underperform rating and a $50.00 price target on the stock. ValuEngine lowered Cirrus Logic from a buy rating to a hold rating in a report on Monday, September 18th. Barclays PLC lowered Cirrus Logic from an equal weight rating to an underweight rating and set a $55.00 price target on the stock. in a report on Tuesday, July 18th. Craig Hallum reiterated a hold rating and set a $54.00 price target (down previously from $63.00) on shares of Cirrus Logic in a report on Friday. Finally, Vetr upgraded Cirrus Logic from a buy rating to a strong-buy rating and set a $66.67 price target on the stock in a report on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Cirrus Logic has a consensus rating of Buy and an average target price of $67.05.

Shares of Cirrus Logic (NASDAQ CRUS) opened at $57.64 on Friday. Cirrus Logic has a one year low of $49.05 and a one year high of $71.97. The stock has a market cap of $3,670.00, a price-to-earnings ratio of 12.88, a price-to-earnings-growth ratio of 1.03 and a beta of 0.05.

Cirrus Logic (NASDAQ:CRUS) last announced its earnings results on Thursday, November 2nd. The semiconductor company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.16. Cirrus Logic had a net margin of 17.11% and a return on equity of 25.37%. The company had revenue of $425.50 million for the quarter, compared to analysts’ expectations of $410.32 million. During the same quarter in the previous year, the company posted $1.35 EPS. The firm’s quarterly revenue was down .7% on a year-over-year basis. research analysts predict that Cirrus Logic will post 4.25 earnings per share for the current year.

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In other Cirrus Logic news, Director Christine King sold 5,000 shares of the business’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $54.51, for a total transaction of $272,550.00. Following the sale, the director now directly owns 16,182 shares in the company, valued at $882,080.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Andrew Brannan sold 21,504 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $55.10, for a total transaction of $1,184,870.40. Following the sale, the vice president now owns 21,504 shares in the company, valued at $1,184,870.40. The disclosure for this sale can be found here. Insiders have sold 44,367 shares of company stock worth $2,447,455 over the last quarter. Insiders own 1.92% of the company’s stock.

Large investors have recently modified their holdings of the business. Fortaleza Asset Management Inc. purchased a new stake in Cirrus Logic during the second quarter worth about $102,000. Migdal Insurance & Financial Holdings Ltd. grew its position in shares of Cirrus Logic by 72.2% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,590 shares of the semiconductor company’s stock worth $138,000 after buying an additional 1,086 shares in the last quarter. DekaBank Deutsche Girozentrale grew its position in shares of Cirrus Logic by 96.2% during the third quarter. DekaBank Deutsche Girozentrale now owns 2,798 shares of the semiconductor company’s stock worth $157,000 after buying an additional 1,372 shares in the last quarter. ETRADE Capital Management LLC acquired a new position in shares of Cirrus Logic during the second quarter worth about $201,000. Finally, Private Advisor Group LLC acquired a new position in shares of Cirrus Logic during the second quarter worth about $215,000. Institutional investors own 89.67% 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.

Analyst Recommendations for Cirrus Logic (NASDAQ:CRUS)

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