A number of other analysts have also commented on the company. ValuEngine raised Cirrus Logic from a hold rating to a buy rating in a report on Tuesday, July 2nd. Needham & Company LLC reissued a hold rating on shares of Cirrus Logic in a report on Monday, August 5th. MKM Partners upped their target price on Cirrus Logic to $55.00 and gave the company a buy rating in a report on Thursday, May 2nd. Craig Hallum reaffirmed a hold rating and issued a $42.00 target price (up from $38.00) on shares of Cirrus Logic in a report on Thursday, August 1st. Finally, Cowen reaffirmed a market perform rating and issued a $56.00 target price (up from $48.00) on shares of Cirrus Logic in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $50.13.
Shares of CRUS opened at $54.54 on Wednesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.18 and a current ratio of 4.30. The stock has a 50 day moving average price of $47.99 and a two-hundred day moving average price of $43.58. The firm has a market capitalization of $3.17 billion, a P/E ratio of 26.60, a P/E/G ratio of 1.77 and a beta of 0.95. Cirrus Logic has a 52 week low of $31.25 and a 52 week high of $60.00.
In other news, Director Timothy R. Dehne sold 4,583 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $53.15, for a total value of $243,586.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Bradley J. Fluke sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $42.77, for a total value of $342,160.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 146,430 shares of company stock valued at $7,565,529. 2.79% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the stock. BRYN MAWR TRUST Co increased its stake in Cirrus Logic by 0.7% in the second quarter. BRYN MAWR TRUST Co now owns 121,512 shares of the semiconductor company’s stock valued at $5,311,000 after acquiring an additional 847 shares during the last quarter. Voleon Capital Management LP bought a new position in Cirrus Logic in the second quarter valued at $830,000. Schroder Investment Management Group increased its stake in Cirrus Logic by 12.4% in the second quarter. Schroder Investment Management Group now owns 26,059 shares of the semiconductor company’s stock valued at $1,139,000 after acquiring an additional 2,881 shares during the last quarter. Nuveen Asset Management LLC bought a new position in Cirrus Logic in the second quarter valued at $12,911,000. Finally, UBS Asset Management Americas Inc. increased its stake in Cirrus Logic by 6.1% in the second quarter. UBS Asset Management Americas Inc. now owns 46,490 shares of the semiconductor company’s stock valued at $2,032,000 after acquiring an additional 2,683 shares during the last quarter. Institutional investors and hedge funds own 84.86% of the company’s stock.
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.
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