BidaskClub upgraded shares of Cirrus Logic (NASDAQ:CRUS) from a sell rating to a hold rating in a research note released on Friday.

A number of other equities analysts have also recently issued reports on CRUS. ValuEngine raised shares of Cirrus Logic from a hold rating to a buy rating in a research note on Monday, October 2nd. Zacks Investment Research raised shares of Cirrus Logic from a hold rating to a buy rating and set a $62.00 price objective on the stock in a research note on Tuesday, October 3rd. Craig Hallum reaffirmed a hold rating and issued a $54.00 price objective (down from $63.00) on shares of Cirrus Logic in a research note on Friday, November 3rd. Needham & Company LLC reaffirmed a buy rating and issued a $80.00 price objective on shares of Cirrus Logic in a research note on Friday, November 3rd. Finally, Northland Securities reaffirmed a buy rating on shares of Cirrus Logic in a research note on Friday, November 3rd. Four research analysts have rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. Cirrus Logic has a consensus rating of Hold and a consensus target price of $65.76.

Cirrus Logic (NASDAQ:CRUS) traded down $2.04 on Friday, hitting $52.76. 1,217,051 shares of the stock traded hands, compared to its average volume of 799,481. Cirrus Logic has a twelve month low of $48.61 and a twelve month high of $71.97. The company has a market capitalization of $3,230.00 and a PE ratio of 12.90.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings data on Thursday, November 2nd. The semiconductor company reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.16. Cirrus Logic had a net margin of 17.11% and a return on equity of 25.37%. The firm had revenue of $425.50 million for the quarter, compared to analysts’ expectations of $410.32 million. During the same period last year, the firm earned $1.35 earnings per share. The business’s revenue for the quarter was down .7% on a year-over-year basis. research analysts anticipate that Cirrus Logic will post 4.21 EPS for the current fiscal year.

In other Cirrus Logic news, Director Christine King sold 562 shares of the stock in a transaction on Friday, December 15th. The shares were sold at an average price of $49.75, for a total value of $27,959.50. Following the sale, the director now directly owns 11,744 shares in the company, valued at $584,264. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last quarter, insiders sold 6,123 shares of company stock worth $328,718. Company insiders own 1.92% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Migdal Insurance & Financial Holdings Ltd. raised its holdings in Cirrus Logic by 72.2% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,590 shares of the semiconductor company’s stock worth $138,000 after purchasing an additional 1,086 shares during the period. DekaBank Deutsche Girozentrale raised its holdings 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 acquiring an additional 1,372 shares during the period. ETRADE Capital Management LLC acquired a new stake in shares of Cirrus Logic during the second quarter worth $201,000. Private Advisor Group LLC acquired a new stake in shares of Cirrus Logic during the second quarter worth $215,000. Finally, Sapphire Star Partners LP acquired a new stake in shares of Cirrus Logic during the third quarter worth $211,000. Institutional investors own 89.34% of the company’s stock.

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Cirrus Logic Company Profile

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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