Cirrus Logic (CRUS) was Initiated by Craig Hallum to “Hold” and the brokerage firm has set the Price Target at $60. Craig Hallum advised their investors in a research report released on Nov 21, 2016.
Many Wall Street Analysts have commented on Cirrus Logic. Craig Hallum Initiated Cirrus Logic on Nov 21, 2016 to “Hold”, Price Target of the shares are set at $60.Company shares were Reiterated by Canaccord Genuity on Oct 28, 2016 to “Buy”, Firm has raised the Price Target to $ 70 from a previous price target of $65 .Company shares were Reiterated by Stifel on Oct 28, 2016 to “Buy”, Firm has raised the Price Target to $ 68 from a previous price target of $62 .
On the company’s financial health, Cirrus Logic reported $1.35 EPS for the quarter, beating the analyst consensus estimate by $ 0.30 according to the earnings call on Oct 27, 2016. Analyst had a consensus of $1.05. The company had revenue of $428.62 million for the quarter, compared to analysts expectations of $396.90 million. The company’s revenue was up 39.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 EPS.
Cirrus Logic opened for trading at $56.5 and hit $57.87 on the upside on Monday, eventually ending the session at $57.79, with a gain of 2.43% or 1.37 points. The heightened volatility saw the trading volume jump to 11,81,369 shares. Company has a market cap of $3,682 M.
In a different news, on Nov 17, 2016, Randolph K Carlson (VP Supply Chain) sold 7,265 shares at $53.63 per share price. According to the SEC, on Nov 9, 2016, John C Carter (director) sold 25,000 shares at $55.50 per share price. On Nov 9, 2016, Scott Thomas (VP General Counsel) sold 25,847 shares at $56.25 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.