Cirrus Logic (NASDAQ:CRUS) Cut to Hold at Loop Capital

Loop Capital cut shares of Cirrus Logic (NASDAQ:CRUS – Get Rating) from a buy rating to a hold rating in a research report released on Monday morning, The Fly reports. They currently have $80.00 target price on the semiconductor company’s stock, down from their prior target price of $92.00.

A number of other equities analysts also recently weighed in on the company. Stifel Nicolaus reduced their price target on Cirrus Logic from $108.00 to $105.00 and set a buy rating for the company in a research report on Wednesday, April 19th. Barclays reduced their price target on Cirrus Logic from $105.00 to $90.00 in a research report on Friday, May 5th. Cowen increased their price objective on Cirrus Logic from $100.00 to $110.00 and gave the company an outperform rating in a report on Friday, February 3rd. Benchmark increased their price objective on Cirrus Logic from $86.00 to $110.00 and gave the company a buy rating in a report on Friday, February 3rd. Finally, KeyCorp cut their price objective on Cirrus Logic from $120.00 to $110.00 and set an overweight rating for the company in a report on Monday, April 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $100.00.

Cirrus Logic Price Performance

Shares of CRUS stock opened at $75.30 on Monday. The stock has a market cap of $4.13 billion, a PE ratio of 24.53, a price-to-earnings-growth ratio of 12.17 and a beta of 0.96. The stock has a 50-day moving average of $90.69 and a 200-day moving average of $87.92. Cirrus Logic has a one year low of $61.94 and a one year high of $111.15.

Insiders Place Their Bets

In other Cirrus Logic news, SVP Scott Thomas sold 10,261 shares of the stock in a transaction on Thursday, March 30th. The stock was sold at an average price of $109.65, for a total transaction of $1,125,118.65. Following the transaction, the senior vice president now owns 20,554 shares in the company, valued at approximately $2,253,746.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CRUS. Denali Advisors LLC increased its position in shares of Cirrus Logic by 33.3% in the fourth quarter. Denali Advisors LLC now owns 400 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 100 shares during the period. Victory Capital Management Inc. increased its position in shares of Cirrus Logic by 1.1% in the third quarter. Victory Capital Management Inc. now owns 12,416 shares of the semiconductor company’s stock worth $854,000 after purchasing an additional 138 shares during the period. Treasurer of the State of North Carolina increased its position in shares of Cirrus Logic by 0.6% in the first quarter. Treasurer of the State of North Carolina now owns 26,120 shares of the semiconductor company’s stock worth $2,857,000 after purchasing an additional 147 shares during the period. MML Investors Services LLC increased its position in shares of Cirrus Logic by 4.9% in the third quarter. MML Investors Services LLC now owns 3,366 shares of the semiconductor company’s stock worth $232,000 after purchasing an additional 158 shares during the period. Finally, Inspire Investing LLC increased its position in shares of Cirrus Logic by 4.5% in the fourth quarter. Inspire Investing LLC now owns 3,766 shares of the semiconductor company’s stock worth $280,000 after purchasing an additional 163 shares during the period. Institutional investors own 91.78% of the company’s stock.

Cirrus Logic Company Profile

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Cirrus Logic, Inc engages in the development of high-precision, analog and mixed-signal integrated circuits for a range of customers. It builds an analog and signal-processing patent portfolio. The firm delivers optimized products for a variety of audio, industrial and energy-related applications. Its product lines include portable audio products and non-portable audio and other products.