BidaskClub Lowers Cirrus Logic (NASDAQ:CRUS) to Hold
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.
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)?
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