Cirrus Logic (NASDAQ:CRUS) Sets New 1-Year High at $72.69
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.
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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