Cirrus Logic (CRUS) was Reiterated by Canaccord Genuity to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 65 from a previous price target of $56 . Canaccord Genuity advised their investors in a research report released on Sep 20, 2016.
Many Wall Street Analysts have commented on Cirrus Logic. Company shares were Reiterated by Stifel on Sep 8, 2016 to “Buy”, Firm has raised the Price Target to $ 58 from a previous price target of $55 .Company shares were Reiterated by Stifel on Jul 28, 2016 to “Buy”, Firm has raised the Price Target to $ 55 from a previous price target of $46 .Company shares were Reiterated by Needham on Jul 28, 2016 to “Buy”, Firm has raised the Price Target to $ 55 from a previous price target of $50 .
On the company’s financial health, Cirrus Logic reported $0.44 EPS for the quarter, beating the analyst consensus estimate by $ 0.15 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.29. The company had revenue of $259.40 million for the quarter, compared to analysts expectations of $236.67 million. The company’s revenue was down -8.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.54 EPS.
Cirrus Logic closed down -0.35 points or -0.63% at $54.82 with 2,573,485 shares getting traded on Friday. Post opening the session at $55.5, the shares hit an intraday low of $53.26 and an intraday high of $55.6799 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Sep 13, 2016, Jason P Rhode (President & CEO) sold 90,156 shares at $48.57 per share price. According to the SEC, on Sep 9, 2016, John C Carter (director) sold 6,108 shares at $51.32 per share price. On Sep 6, 2016, William D Sherman (director) sold 192 shares at $52.25 per share price, according to the Form-4 filing with the securities and exchange commission.
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.