Cirrus Logic (CRUS) Upgraded at BidaskClub
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.
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.
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