Cirrus Logic (CRUS) was Reiterated by Stifel to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 58 from a previous price target of $55 . Stifel advised their investors in a research report released on Sep 8, 2016.
Many Wall Street Analysts have commented on Cirrus Logic. 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 .Cirrus Logic was Downgraded by Pacific Crest to ” Sector Weight” on Jul 5, 2016.
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 opened for trading at $51.26 and hit $52.2 on the upside on Wednesday, eventually ending the session at $51.63, with a gain of 0.53% or 0.27 points. The heightened volatility saw the trading volume jump to 1,209,636 shares. Company has a market cap of $3,226 M.
In a different news, on Sep 6, 2016, William D Sherman (director) sold 192 shares at $52.25 per share price. According to the SEC, on Aug 25, 2016, Rashpal Sahota (VP & Audio GM) sold 17,224 shares at $52.13 per share price. On Aug 25, 2016, Allan Hughes (VP of Cirrus Logic Intern) sold 14,755 shares at $52.13 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.