Cirrus Logic (NASDAQ:CRUS) Downgraded by StockNews.com

StockNews.com cut shares of Cirrus Logic (NASDAQ:CRUS) from a strong-buy rating to a buy rating in a report released on Saturday morning.

Several other brokerages also recently issued reports on CRUS. Barclays raised their target price on shares of Cirrus Logic from $90.00 to $95.00 and gave the company an overweight rating in a research note on Tuesday, January 16th. Susquehanna raised their target price on shares of Cirrus Logic from $85.00 to $100.00 and gave the company a positive rating in a research note on Wednesday, February 7th. TD Cowen raised their target price on shares of Cirrus Logic from $90.00 to $100.00 and gave the company an outperform rating in a research note on Wednesday, February 7th. Stifel Nicolaus raised their target price on shares of Cirrus Logic from $95.00 to $100.00 and gave the company a buy rating in a research note on Wednesday, February 7th. Finally, TheStreet upgraded shares of Cirrus Logic from a c+ rating to a b- rating in a research note on Tuesday, January 23rd. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Cirrus Logic currently has a consensus rating of Buy and a consensus target price of $96.43.

Cirrus Logic Price Performance

Cirrus Logic stock opened at $84.47 on Friday. The firm has a 50-day moving average of $90.31 and a 200-day moving average of $81.85. Cirrus Logic has a one year low of $65.02 and a one year high of $95.87. The company has a market cap of $4.55 billion, a price-to-earnings ratio of 26.82 and a beta of 1.00.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $2.53 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.83. Cirrus Logic had a net margin of 9.84% and a return on equity of 16.13%. The company had revenue of $618.98 million during the quarter, compared to the consensus estimate of $539.55 million. As a group, sell-side analysts expect that Cirrus Logic will post 4.79 earnings per share for the current year.

Insiders Place Their Bets

In other Cirrus Logic news, CFO Venkatesh Nathamuni sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $95.00, for a total transaction of $95,000.00. Following the completion of the sale, the chief financial officer now directly owns 1,587 shares in the company, valued at $150,765. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Venkatesh Nathamuni sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $95.00, for a total transaction of $95,000.00. Following the transaction, the chief financial officer now directly owns 1,587 shares of the company’s stock, valued at $150,765. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Andrew Brannan sold 3,250 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $94.00, for a total transaction of $305,500.00. Following the transaction, the vice president now directly owns 6,055 shares in the company, valued at $569,170. The disclosure for this sale can be found here. Insiders sold 7,530 shares of company stock worth $700,292 over the last three months. Insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Venturi Wealth Management LLC raised its position in Cirrus Logic by 93.7% during the fourth quarter. Venturi Wealth Management LLC now owns 368 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 178 shares in the last quarter. Atlas Capital Advisors LLC raised its position in Cirrus Logic by 103.0% during the first quarter. Atlas Capital Advisors LLC now owns 402 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 204 shares in the last quarter. Quadrant Capital Group LLC raised its position in Cirrus Logic by 72.3% during the fourth quarter. Quadrant Capital Group LLC now owns 510 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 214 shares in the last quarter. Nisa Investment Advisors LLC raised its position in Cirrus Logic by 71.1% during the third quarter. Nisa Investment Advisors LLC now owns 722 shares of the semiconductor company’s stock valued at $53,000 after purchasing an additional 300 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new position in Cirrus Logic during the third quarter valued at approximately $62,000. 87.96% of the stock is currently owned by institutional investors and hedge funds.

About Cirrus Logic

Cirrus Logic, Inc, a fabless semiconductor company, develops low-power, high-precision mixed-signal processing solutions in China, the United States, and internationally. The company offers audio products, including codecs components that integrate analog-to-digital converters (ADCs) and digital-to-analog converters (DACs) into a single integrated circuit (IC); smart codecs, a codec with digital signal processing; boosted amplifiers; standalone digital signal processors; and SoundClear technology, which consists of a portfolio of tools, software, and algorithms that helps to enhance user experience with features, such as louder, high-fidelity sound, audio playback, voice capture, and hearing augmentation.