Cirrus Logic (CRUS) Earning Somewhat Favorable Press Coverage, Analysis Shows
News headlines about Cirrus Logic (NASDAQ:CRUS) have trended somewhat positive this week, according to Accern Sentiment. The research group rates the sentiment of news coverage by reviewing more than twenty million news and blog sources. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Cirrus Logic earned a media sentiment score of 0.14 on Accern’s scale. Accern also assigned media coverage about the semiconductor company an impact score of 44.9399424727486 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
Here are some of the media stories that may have effected Accern’s analysis:
- Insider Selling: Cirrus Logic, Inc. (CRUS) VP Sells 7,325 Shares of Stock (americanbankingnews.com)
- Cirrus Logic, Inc. (CRUS) Rating Increased to Buy at ValuEngine (topix.com)
- Analyzing Cirrus Logic (CRUS) and Its Rivals (americanbankingnews.com)
- Cirrus Logic, Inc. (CRUS) Receives Average Rating of “Buy” from Brokerages (americanbankingnews.com)
- Quarterly Loser: Cirrus Logic, Inc. (CRUS) stock performed -18.29% – Street Observer (press release) (streetobserver.com)
Cirrus Logic (CRUS) opened at 54.47 on Wednesday. The company has a market capitalization of $3.48 billion, a PE ratio of 12.74 and a beta of 0.01. Cirrus Logic has a 52 week low of $49.05 and a 52 week high of $71.97. The firm’s 50-day moving average price is $55.53 and its 200 day moving average price is $61.40.
Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings data on Wednesday, August 2nd. The semiconductor company reported $0.81 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.15. The business had revenue of $320.70 million during the quarter, compared to analysts’ expectations of $320.32 million. Cirrus Logic had a return on equity of 26.71% and a net margin of 17.38%. The firm’s quarterly revenue was up 23.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.44 earnings per share. Equities research analysts expect that Cirrus Logic will post $4.74 earnings per share for the current fiscal year.
A number of research analysts recently weighed in on CRUS shares. Bank of America Corporation began coverage on Cirrus Logic in a research note on Monday, September 18th. They set an “underperform” rating and a $50.00 price target on the stock. Barclays PLC cut Cirrus Logic from an “equal weight” rating to an “underweight” rating and set a $55.00 price objective for the company. in a research note on Tuesday, July 18th. Vetr upgraded Cirrus Logic from a “buy” rating to a “strong-buy” rating and set a $66.67 price objective for the company in a report on Thursday, August 3rd. Craig Hallum restated a “hold” rating on shares of Cirrus Logic in a report on Wednesday, September 13th. Finally, KeyCorp restated an “overweight” rating on shares of Cirrus Logic in a report on Thursday, September 14th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Cirrus Logic presently has an average rating of “Buy” and a consensus target price of $67.69.
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In related news, VP Bradley J. Fluke sold 7,325 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $53.44, for a total value of $391,448.00. Following the transaction, the vice president now owns 12,000 shares in the company, valued at approximately $641,280. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Christine King sold 5,000 shares of the company’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $57.42, for a total transaction of $287,100.00. Following the completion of the transaction, the director now owns 16,182 shares in the company, valued at approximately $929,170.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 104,666 shares of company stock worth $5,914,243. Insiders own 1.92% of the company’s stock.
Cirrus Logic Company Profile
Cirrus Logic, Inc is engaged in providing integrated circuits (ICs) for audio and voice signal processing applications. The Company develops analog and mixed-signal ICs for a range of customers. The Company offers two product lines: Portable Audio, and Non-Portable Audio and Other. The Company’s primary facility housing engineering, sales and marketing, and administration functions is located in Austin, Texas.
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