Barclays upgraded shares of Cirrus Logic (NASDAQ:CRUS) from an underweight rating to an equal weight rating in a research note published on Monday morning, Benzinga reports. Barclays currently has $65.00 price objective on the semiconductor company’s stock, up from their previous price objective of $60.00.

A number of other analysts have also recently weighed in on CRUS. Colliers Secur. restated a buy rating on shares of Cirrus Logic in a report on Wednesday, August 5th. Susquehanna Bancshares raised their target price on shares of Cirrus Logic from $78.00 to $86.00 in a report on Tuesday, August 4th. ValuEngine raised shares of Cirrus Logic from a sell rating to a hold rating in a research note on Monday, August 3rd. Cowen raised their price objective on shares of Cirrus Logic from $88.00 to $90.00 and gave the stock an outperform rating in a research note on Tuesday, August 4th. Finally, Stifel Nicolaus raised their price objective on shares of Cirrus Logic from $80.00 to $82.00 and gave the stock a buy rating in a research note on Tuesday, May 26th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $81.88.

NASDAQ CRUS opened at $60.79 on Monday. The firm has a market capitalization of $3.55 billion, a PE ratio of 21.18, a P/E/G ratio of 3.13 and a beta of 0.84. Cirrus Logic has a 12 month low of $47.04 and a 12 month high of $91.63. The company’s 50 day simple moving average is $61.77 and its 200 day simple moving average is $65.14.

Cirrus Logic (NASDAQ:CRUS) last issued its earnings results on Monday, August 3rd. The semiconductor company reported $0.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.23. The firm had revenue of $242.57 million during the quarter, compared to analysts’ expectations of $225.25 million. Cirrus Logic had a net margin of 13.47% and a return on equity of 16.75%. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period last year, the firm posted $0.35 earnings per share. Analysts forecast that Cirrus Logic will post 2.47 EPS for the current year.

In other news, Director John C. Carter sold 625 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $73.99, for a total transaction of $46,243.75. Following the transaction, the director now owns 15,656 shares in the company, valued at approximately $1,158,387.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.83% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in CRUS. Amundi Pioneer Asset Management Inc. raised its holdings in shares of Cirrus Logic by 175.2% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 7,854 shares of the semiconductor company’s stock valued at $330,000 after purchasing an additional 5,000 shares in the last quarter. UBS Group AG raised its holdings in Cirrus Logic by 211.0% in the 1st quarter. UBS Group AG now owns 107,484 shares of the semiconductor company’s stock worth $7,054,000 after acquiring an additional 72,926 shares during the period. Fifth Third Bancorp raised its holdings in Cirrus Logic by 45.8% in the 1st quarter. Fifth Third Bancorp now owns 1,359 shares of the semiconductor company’s stock worth $89,000 after acquiring an additional 427 shares during the period. Alps Advisors Inc. bought a new position in Cirrus Logic in the 1st quarter worth $263,000. Finally, New York State Common Retirement Fund raised its holdings in Cirrus Logic by 2.2% in the 1st quarter. New York State Common Retirement Fund now owns 61,993 shares of the semiconductor company’s stock worth $4,069,000 after acquiring an additional 1,306 shares during the period. Institutional investors and hedge funds own 86.00% 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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Analyst Recommendations for Cirrus Logic (NASDAQ:CRUS)

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