BidaskClub downgraded shares of Cirrus Logic (NASDAQ:CRUS) from a buy rating to a hold rating in a research report report published on Thursday, BidAskClub reports.

A number of other brokerages have also recently commented on CRUS. Cowen reiterated a hold rating on shares of PTC Therapeutics in a research note on Thursday, May 2nd. ValuEngine cut shares of Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd. MKM Partners increased their price target on shares of Radian Group to $30.00 and gave the company a buy rating in a research note on Thursday, May 2nd. Finally, Zacks Investment Research cut shares of Haynes International from a hold rating to a sell rating in a research note on Wednesday, May 8th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Cirrus Logic currently has an average rating of Hold and an average price target of $45.00.

Shares of CRUS opened at $43.57 on Thursday. Cirrus Logic has a 12 month low of $31.25 and a 12 month high of $50.12. The stock’s fifty day simple moving average is $41.24. The firm has a market capitalization of $2.54 billion, a PE ratio of 22.12, a price-to-earnings-growth ratio of 1.97 and a beta of 0.94.

Cirrus Logic (NASDAQ:CRUS) last announced its earnings results on Wednesday, May 1st. The semiconductor company reported $0.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.04. The business had revenue of $240.44 million during the quarter, compared to analysts’ expectations of $219.67 million. Cirrus Logic had a net margin of 7.59% and a return on equity of 10.65%. The firm’s revenue was down 20.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.51 earnings per share. On average, equities research analysts forecast that Cirrus Logic will post 1.48 EPS for the current fiscal year.

In other news, Director David J. Tupman sold 1,541 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $49.43, for a total transaction of $76,171.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Scott Thomas sold 6,153 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $45.00, for a total transaction of $276,885.00. The disclosure for this sale can be found here. Company insiders own 2.79% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Investors Research Corp acquired a new stake in shares of Cirrus Logic during the 1st quarter worth about $25,000. Quadrant Capital Group LLC lifted its stake in shares of Cirrus Logic by 596.7% during the 1st quarter. Quadrant Capital Group LLC now owns 641 shares of the semiconductor company’s stock worth $26,000 after buying an additional 549 shares during the last quarter. Advisor Group Inc. lifted its stake in shares of Cirrus Logic by 71.8% during the 4th quarter. Advisor Group Inc. now owns 2,166 shares of the semiconductor company’s stock worth $71,000 after buying an additional 905 shares during the last quarter. Captrust Financial Advisors lifted its stake in shares of Cirrus Logic by 85.5% during the 4th quarter. Captrust Financial Advisors now owns 2,641 shares of the semiconductor company’s stock worth $88,000 after buying an additional 1,217 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Cirrus Logic during the 4th quarter worth about $95,000. Institutional investors own 84.62% of the company’s stock.

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.

Further Reading: What is Cost of Goods Sold (COGS)?

Analyst Recommendations for Cirrus Logic (NASDAQ:CRUS)

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