Cirrus Logic, Inc. (NASDAQ:CRUS) shares hit a new 52-week high on Thursday . The company traded as high as $72.69 and last traded at $72.37, with a volume of 19787 shares. The stock had previously closed at $71.95.

CRUS has been the subject of a number of recent research reports. Stifel Nicolaus boosted their price objective on shares of Cirrus Logic from $68.00 to $76.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Zacks Investment Research upgraded shares of Cirrus Logic from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a report on Tuesday, October 29th. TheStreet upgraded shares of Cirrus Logic from a “c+” rating to a “b” rating in a report on Thursday, October 31st. Craig Hallum boosted their price objective on shares of Cirrus Logic from $42.00 to $52.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Finally, Cowen boosted their price objective on shares of Cirrus Logic from $56.00 to $62.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $59.89.

The stock’s fifty day moving average is $59.49 and its 200 day moving average is $50.45. The company has a current ratio of 3.38, a quick ratio of 2.63 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $4.09 billion, a P/E ratio of 35.25, a price-to-earnings-growth ratio of 1.74 and a beta of 0.91.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $1.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.61. Cirrus Logic had a net margin of 9.81% and a return on equity of 13.04%. The company had revenue of $389.00 million during the quarter, compared to analyst estimates of $320.37 million. During the same period in the prior year, the business posted $1.08 EPS. The firm’s revenue was up 6.2% compared to the same quarter last year. On average, analysts expect that Cirrus Logic, Inc. will post 2.72 EPS for the current fiscal year.

In related news, VP Scott Arnold Anderson sold 16,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $71.13, for a total transaction of $1,138,080.00. Corporate insiders own 2.79% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Cardinal Capital Management raised its holdings in Cirrus Logic by 1.6% in the 3rd quarter. Cardinal Capital Management now owns 13,019 shares of the semiconductor company’s stock worth $697,000 after purchasing an additional 202 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in Cirrus Logic during the 2nd quarter valued at about $33,000. Patriot Financial Group Insurance Agency LLC grew its position in Cirrus Logic by 160.0% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,300 shares of the semiconductor company’s stock valued at $70,000 after purchasing an additional 800 shares during the last quarter. BRYN MAWR TRUST Co grew its position in Cirrus Logic by 0.7% during the 2nd quarter. BRYN MAWR TRUST Co now owns 121,512 shares of the semiconductor company’s stock valued at $5,311,000 after purchasing an additional 847 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Cirrus Logic during the 2nd quarter valued at about $44,000. Institutional investors and hedge funds own 86.49% of the company’s stock.

Cirrus Logic Company Profile (NASDAQ:CRUS)

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.

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