Cirrus Logic, Inc. (NASDAQ:CRUS) – Investment analysts at Dougherty & Co lowered their FY2018 earnings per share (EPS) estimates for Cirrus Logic in a research report issued to clients and investors on Tuesday. Dougherty & Co analyst C. Anderson now anticipates that the semiconductor company will earn $3.77 per share for the year, down from their prior estimate of $3.92.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings data on Monday, February 5th. The semiconductor company reported $1.59 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.78 by ($0.19). Cirrus Logic had a net margin of 11.89% and a return on equity of 22.60%. The business had revenue of $482.70 million during the quarter, compared to analysts’ expectations of $530.99 million. During the same period in the prior year, the firm posted $1.87 EPS. Cirrus Logic’s revenue for the quarter was down 7.7% compared to the same quarter last year.

Several other equities research analysts have also commented on the company. ValuEngine raised Cirrus Logic from a “hold” rating to a “buy” rating in a research note on Friday. BidaskClub lowered Cirrus Logic from a “hold” rating to a “sell” rating in a research note on Wednesday. MKM Partners decreased their price target on Cirrus Logic to $54.00 and set a “buy” rating on the stock in a research note on Tuesday, February 6th. Northland Securities reissued a “buy” rating and set a $60.00 price target on shares of Cirrus Logic in a research note on Tuesday, February 6th. Finally, Bank of America decreased their price target on Cirrus Logic from $50.00 to $41.00 and set a “sell” rating on the stock in a research note on Tuesday, February 6th. Five investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $60.92.

Shares of Cirrus Logic (NASDAQ CRUS) opened at $42.38 on Friday. The company has a market capitalization of $2,840.00, a P/E ratio of 15.24, a PEG ratio of 1.17 and a beta of -0.02. Cirrus Logic has a 52 week low of $39.51 and a 52 week high of $71.97.

Cirrus Logic declared that its Board of Directors has authorized a stock buyback plan on Monday, February 5th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the semiconductor company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

In related news, Director Christine King sold 562 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $49.75, for a total value of $27,959.50. Following the sale, the director now owns 11,744 shares of the company’s stock, valued at approximately $584,264. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last ninety days, insiders sold 6,140 shares of company stock worth $328,552. 1.92% of the stock is owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the stock. ARP Americas LP lifted its stake in Cirrus Logic by 528.9% in the 4th quarter. ARP Americas LP now owns 26,406 shares of the semiconductor company’s stock valued at $1,369,000 after buying an additional 22,207 shares in the last quarter. Systematic Financial Management LP raised its holdings in Cirrus Logic by 10.2% in the 4th quarter. Systematic Financial Management LP now owns 27,540 shares of the semiconductor company’s stock valued at $1,428,000 after acquiring an additional 2,545 shares during the last quarter. UBS Asset Management Americas Inc. raised its holdings in Cirrus Logic by 10.6% in the 4th quarter. UBS Asset Management Americas Inc. now owns 1,304,324 shares of the semiconductor company’s stock valued at $67,642,000 after acquiring an additional 125,285 shares during the last quarter. BlackRock Inc. raised its holdings in Cirrus Logic by 2.9% in the 4th quarter. BlackRock Inc. now owns 7,070,636 shares of the semiconductor company’s stock valued at $366,682,000 after acquiring an additional 197,960 shares during the last quarter. Finally, Schroder Investment Management Group raised its holdings in Cirrus Logic by 7,628.2% in the 4th quarter. Schroder Investment Management Group now owns 497,003 shares of the semiconductor company’s stock valued at $25,775,000 after acquiring an additional 490,572 shares during the last quarter. 89.58% of the stock is currently owned by hedge funds and other institutional investors.

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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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