Cirrus Logic (CRUS) : Analyst Rating Update

Cirrus Logic (CRUS) : Zacks Investment Research ranks Cirrus Logic (CRUS) as 3, which is a Hold recommendation. 5 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. 2 other analysts are mildly bullish on the stock and favor a Buy. A total of 2 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 9 research analysts is 1.67, which indicates as a Buy.

Cirrus Logic (CRUS) stock is expected to deviate a maximum of $5.94 from the average target price of $44.67 for the short term period. 9 Street Experts have initiated coverage on the stock with the most promising target being $52 and the most muted being $35.

Cirrus Logic (NASDAQ:CRUS): The stock opened at $35.31 on Wednesday but the bulls could not build on the opening and the stock topped out at $35.88 for the day. The stock traded down to $35.01 during the day, due to lack of any buying support eventually closed down at $35.61 with a loss of -0.42% for the day. The stock had closed at $35.76 on the previous day. The total traded volume was 999,544 shares.

Also, Canaccord Genuity initiates coverage on Cirrus Logic (NASDAQ:CRUS). The current rating of the shares is Buy, according to the research report released by the firm. The brokerage firm announces the price target at $52 per share. The rating by the firm was issued on June 21, 2016. The company shares have rallied 11.61% from its 1 Year high price. On Jun 23, 2016, the shares registered one year high at $40.98 and the one year low was seen on Aug 24, 2015. The 50-Day Moving Average price is $36.70 and the 200 Day Moving Average price is recorded at $34.04.

Cirrus Logic, Inc. (Cirrus Logic) develops high-precision, analog and mixed-signal integrated circuits (ICs) for a range of audio and energy markets. Cirrus Logic delivers products for consumer and professional audio, automotive entertainment, and targeted industrial applications including energy control, energy measurement, light emitting diode (LED) lighting and energy exploration. The Company also serves customers from sales offices in the United States, Europe and Asia, including the Peoples Republic of China, Hong Kong, South Korea, Japan, Singapore, Taiwan and the United Kingdom. The Audio Products segment offers analog and mixed-signal audio converter and audio DSP products. The Energy Products provides high-precision analog and mixed-signal ICs for targeted energy control, energy measurement, LED lighting and energy exploration applications.

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