Analyst Rating Update on Cirrus Logic (CRUS)

Cirrus Logic (NASDAQ:CRUS) : 6 brokerage houses believe that Cirrus Logic (NASDAQ:CRUS) is a Strong Buy at current levels. 2 Analyst considers the fundamentals to be worthy of a Buy recommendation. 1 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Cirrus Logic (NASDAQ:CRUS). Zacks Investment Research suggests a Hold with a rank of 3.The median of all the 9 Wall Street Analysts endorse the stock as a Strong Buy with a rating of 1.44.

Cirrus Logic (NASDAQ:CRUS) : The highest level Cirrus Logic (NASDAQ:CRUS) is projected to reach is $52 for the short term and the lowest estimate is at $35. The consolidated price target from 9 rating analysts who initiate coverage on the stock is $44.67 and the possibility the share price can swing is $5.94.

For the current week, the company shares have a recommendation consensus of Buy. Also, Canaccord Genuity initiates coverage on Cirrus Logic (NASDAQ:CRUS). Canaccord Genuity has a Buy rating on the shares. As per the latest report, the brokerage house announces the price target to $52 per share. The rating by the firm was issued on June 21, 2016.

Cirrus Logic (NASDAQ:CRUS): stock turned positive on Tuesday. Though the stock opened at $37.25, the bulls momentum made the stock top out at $38.16 level for the day. The stock recorded a low of $37.05 and closed the trading day at $37.82, in the green by 3.93%. The total traded volume for the day was 1,051,568. The stock had closed at $36.39 in the previous days trading.

In an insider trading activity, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (VP and CFO) of Cirrus Logic Inc, Case Thurman K had sold 32,000 shares worth of $1,280,000 in a transaction dated June 21, 2016. In this transaction, 32,000 shares were sold at $40 per share.

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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