Cirrus Logic (NASDAQ:CRUS) was upgraded by analysts at TheStreet from a “c+” rating to a “b-” rating in a research report issued on Thursday.

Other equities analysts have also recently issued research reports about the stock. BidaskClub raised shares of Cirrus Logic from a “sell” rating to a “hold” rating in a research note on Saturday, July 28th. Cowen boosted their price target on shares of Cirrus Logic from $40.00 to $44.00 and gave the stock a “market perform” rating in a research note on Thursday, August 2nd. Craig Hallum boosted their price target on shares of Cirrus Logic from $43.00 to $51.00 and gave the stock a “buy” rating in a research note on Thursday, August 2nd. ValuEngine cut shares of Cirrus Logic from a “sell” rating to a “strong sell” rating in a research note on Friday, August 3rd. Finally, Susquehanna Bancshares boosted their price target on shares of Cirrus Logic from $45.00 to $59.00 and gave the stock a “positive” rating in a research note on Thursday, August 2nd. Four research analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. Cirrus Logic has a consensus rating of “Hold” and a consensus target price of $47.88.

Shares of NASDAQ:CRUS opened at $41.37 on Thursday. The company has a market cap of $2.48 billion, a P/E ratio of 11.21, a PEG ratio of 1.13 and a beta of 0.45. Cirrus Logic has a 12 month low of $34.49 and a 12 month high of $57.55.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Thursday, November 1st. The semiconductor company reported $1.08 EPS for the quarter, beating the consensus estimate of $0.74 by $0.34. The company had revenue of $366.30 million during the quarter, compared to analysts’ expectations of $330.27 million. Cirrus Logic had a net margin of 7.09% and a return on equity of 15.55%. Cirrus Logic’s revenue for the quarter was down 13.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.36 earnings per share. As a group, equities analysts forecast that Cirrus Logic will post 2.44 EPS for the current year.

In other Cirrus Logic news, Director Timothy R. Dehne sold 4,171 shares of the business’s stock in a transaction that occurred on Sunday, August 26th. The shares were sold at an average price of $44.99, for a total value of $187,653.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.32% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board lifted its holdings in shares of Cirrus Logic by 27.0% in the 3rd quarter. Canada Pension Plan Investment Board now owns 688,900 shares of the semiconductor company’s stock worth $26,592,000 after acquiring an additional 146,400 shares during the last quarter. Martingale Asset Management L P lifted its holdings in shares of Cirrus Logic by 28.2% in the 3rd quarter. Martingale Asset Management L P now owns 52,245 shares of the semiconductor company’s stock worth $2,017,000 after acquiring an additional 11,502 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Cirrus Logic by 14.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,450,817 shares of the semiconductor company’s stock worth $56,000,000 after acquiring an additional 177,692 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Cirrus Logic by 37.0% in the 3rd quarter. Alliancebernstein L.P. now owns 209,099 shares of the semiconductor company’s stock worth $8,071,000 after acquiring an additional 56,488 shares during the last quarter. Finally, MML Investors Services LLC lifted its holdings in shares of Cirrus Logic by 25.8% in the 3rd quarter. MML Investors Services LLC now owns 8,533 shares of the semiconductor company’s stock worth $329,000 after acquiring an additional 1,750 shares during the last quarter. 89.21% of the stock is owned by institutional investors and hedge funds.

Cirrus Logic Company Profile

Cirrus Logic, Inc, a fabless semiconductor company, develops, manufactures, and markets analog and mixed-signal integrated circuits (ICs) for a range of consumer and industrial markets. The company offers portable and non-portable audio, and other products. Its products include analog and mixed-signal audio converters, and digital signal processing products for mobile applications; codecs-chips that integrate analog-to-digital converters and digital-to-analog converters into a single IC; smart codecs, a codec with digital signal processer; boosted amplifiers; micro-electromechanical systems microphones; digital interface products; and standalone digital signal processors.

Featured Story: How a Put Option Works

Analyst Recommendations for Cirrus Logic (NASDAQ:CRUS)

Receive News & Ratings for Cirrus Logic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cirrus Logic and related companies with MarketBeat.com's FREE daily email newsletter.