The Cirrus Logic’s (CRUS) Outperform Rating Reaffirmed at Oppenheimer Holdings Inc.

The Cirrus Logic’s (CRUS) Outperform Rating Reaffirmed at Oppenheimer Holdings Inc.

Oppenheimer Holdings Inc. reissued their outperform rating on shares of Cirrus Logic Inc. (NASDAQ:CRUS) in a research note published on Sunday. Oppenheimer Holdings Inc. currently has a $60.00 price target on the stock, up from their previous price target of $50.00.

CRUS has been the topic of several other research reports. Pacific Crest reissued an equal weight rating on shares of Cirrus Logic in a research note on Friday, July 29th. Stifel Nicolaus boosted their target price on shares of Cirrus Logic from $62.00 to $68.00 and gave the company a buy rating in a report on Friday. Canaccord Genuity boosted their target price on shares of Cirrus Logic from $65.00 to $70.00 and gave the company a buy rating in a report on Friday. Needham & Company LLC boosted their target price on shares of Cirrus Logic from $50.00 to $55.00 and gave the company a buy rating in a report on Thursday, July 28th. Finally, Zacks Investment Research upgraded shares of Cirrus Logic from a hold rating to a strong-buy rating and set a $56.00 target price on the stock in a report on Monday, August 1st. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $53.10.

Cirrus Logic (NASDAQ:CRUS) opened at 55.34 on Friday. Cirrus Logic has a one year low of $25.09 and a one year high of $58.08. The company has a market cap of $3.46 billion, a PE ratio of 34.35 and a beta of 0.41. The stock has a 50 day moving average price of $53.22 and a 200 day moving average price of $43.91.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Thursday, October 27th. The company reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.30. Cirrus Logic had a net margin of 11.78% and a return on equity of 19.41%. The company had revenue of $428.62 million for the quarter, compared to analysts’ expectations of $396.75 million. During the same quarter in the previous year, the firm posted $0.65 earnings per share. Cirrus Logic’s revenue for the quarter was up 39.7% on a year-over-year basis. On average, equities analysts anticipate that Cirrus Logic will post $3.28 EPS for the current fiscal year.

In related news, CEO Jason P. Rhode sold 90,156 shares of the company’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $48.57, for a total value of $4,378,876.92. Following the sale, the chief executive officer now owns 179,680 shares in the company, valued at approximately $8,727,057.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Scott Arnold Anderson sold 40,000 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $48.82, for a total transaction of $1,952,800.00. Following the completion of the sale, the vice president now owns 36,966 shares in the company, valued at approximately $1,804,680.12. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the company. Aperio Group LLC raised its stake in Cirrus Logic by 16.1% in the first quarter. Aperio Group LLC now owns 9,836 shares of the company’s stock worth $358,000 after buying an additional 1,361 shares in the last quarter. BlackRock Inc. raised its stake in Cirrus Logic by 27.2% in the first quarter. BlackRock Inc. now owns 9,212 shares of the company’s stock worth $335,000 after buying an additional 1,972 shares in the last quarter. Credit Agricole S A acquired a new stake in Cirrus Logic during the first quarter worth $637,000. Nicholas Investment Partners LP acquired a new stake in Cirrus Logic during the first quarter worth $1,247,000. Finally, Geode Capital Management LLC raised its stake in Cirrus Logic by 0.9% in the first quarter. Geode Capital Management LLC now owns 572,093 shares of the company’s stock worth $20,829,000 after buying an additional 5,260 shares in the last quarter. Institutional investors own 89.23% of the company’s stock.

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