ValuEngine upgraded shares of Cirrus Logic (NASDAQ:CRUS) from a hold rating to a buy rating in a research report report published on Wednesday morning.
Several other research firms also recently weighed in on CRUS. Bank of America set a $29.00 target price on shares of Cirrus Logic and gave the stock a sell rating in a research report on Tuesday. BidaskClub downgraded shares of Cirrus Logic from a hold rating to a sell rating in a research report on Tuesday, September 18th. Needham & Company LLC reissued a hold rating on shares of Cirrus Logic in a research report on Wednesday, November 21st. TheStreet raised shares of Cirrus Logic from a c+ rating to a b- rating in a research report on Thursday, November 8th. Finally, Zacks Investment Research downgraded shares of Cirrus Logic from a hold rating to a sell rating in a research report on Monday, November 12th. Four equities 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’s stock. The stock currently has an average rating of Hold and an average target price of $45.88.
CRUS opened at $37.95 on Wednesday. The stock has a market capitalization of $2.27 billion, a PE ratio of 10.28, a P/E/G ratio of 1.11 and a beta of 0.50. Cirrus Logic has a 1-year low of $34.49 and a 1-year high of $55.13.
Cirrus Logic (NASDAQ:CRUS) last released its earnings results on Thursday, November 1st. The semiconductor company reported $1.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.34. The company had revenue of $366.30 million during the quarter, compared to the consensus estimate of $330.27 million. Cirrus Logic had a net margin of 7.09% and a return on equity of 15.55%. The company’s revenue was down 13.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.36 EPS. On average, equities research analysts forecast that Cirrus Logic will post 2.28 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. grace capital acquired a new position in shares of Cirrus Logic in the 2nd quarter valued at about $115,000. Bank of Montreal Can boosted its holdings in shares of Cirrus Logic by 88.7% in the 3rd quarter. Bank of Montreal Can now owns 3,388 shares of the semiconductor company’s stock valued at $131,000 after buying an additional 1,593 shares during the period. First Hawaiian Bank acquired a new position in shares of Cirrus Logic in the 3rd quarter valued at about $140,000. Itau Unibanco Holding S.A. boosted its holdings in shares of Cirrus Logic by 91.8% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 3,723 shares of the semiconductor company’s stock valued at $143,000 after buying an additional 1,782 shares during the period. Finally, Virginia National Bank acquired a new position in shares of Cirrus Logic in the 3rd quarter valued at about $220,000. 90.44% of the stock is owned by institutional investors and hedge funds.
About Cirrus Logic
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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