The stock of Cirrus Logic, Inc. (NASDAQ:CRUS) is a huge mover today! About 2.11M shares traded hands or 85.09% up from the average. Cirrus Logic, Inc. (NASDAQ:CRUS) has risen 50.97% since April 28, 2016 and is uptrending. It has outperformed by 45.05% the S&P500.
The move comes after 9 months negative chart setup for the $3.08B company. It was reported on Dec, 1 by Barchart.com. We have $46.83 PT which if reached, will make NASDAQ:CRUS worth $215.60 million less.
Analysts await Cirrus Logic, Inc. (NASDAQ:CRUS) to report earnings on January, 25. They expect $1.53 earnings per share, up 118.57% or $0.83 from last year’s $0.7 per share. CRUS’s profit will be $93.56 million for 8.23 P/E if the $1.53 EPS becomes a reality. After $1.24 actual earnings per share reported by Cirrus Logic, Inc. for the previous quarter, Wall Street now forecasts 23.39% EPS growth.
Cirrus Logic, Inc. (NASDAQ:CRUS) Ratings Coverage
Out of 9 analysts covering Cirrus Logic (NASDAQ:CRUS), 8 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 89% are positive. Cirrus Logic has been the topic of 16 analyst reports since July 23, 2015 according to StockzIntelligence Inc. The stock of Cirrus Logic, Inc. (NASDAQ:CRUS) earned “Buy” rating by Needham on Monday, March 14. Canaccord Genuity maintained the stock with “Buy” rating in Friday, October 28 report. The firm has “Buy” rating by Stifel Nicolaus given on Friday, January 8. The stock of Cirrus Logic, Inc. (NASDAQ:CRUS) earned “Buy” rating by Stifel Nicolaus on Thursday, October 13. As per Tuesday, June 21, the company rating was initiated by Canaccord Genuity. On Thursday, January 28 the stock rating was upgraded by Oppenheimer to “Outperform”. Topeka Capital Markets initiated the shares of CRUS in a report on Friday, February 26 with “Buy” rating. The stock has “Buy” rating given by Stifel Nicolaus on Thursday, September 8. Stifel Nicolaus upgraded the shares of CRUS in a report on Thursday, July 23 to “Buy” rating. The stock of Cirrus Logic, Inc. (NASDAQ:CRUS) has “Buy” rating given on Monday, November 30 by Dougherty & Company.
According to Zacks Investment Research, “Cirrus Logic Inc. is a premier supplier of high performance analog circuits and advanced mixed-signal chip solutions. The company’s products, sold under its own name and the Crystal product brand, enable system-level applications in mass storage, audio and precision data conversion. (PRESS RELEASE)”
Insitutional Activity: The institutional sentiment decreased to 0.88 in Q2 2016. Its down 0.14, from 1.02 in 2016Q1. The ratio turned negative, as 29 funds sold all Cirrus Logic, Inc. shares owned while 91 reduced positions. 40 funds bought stakes while 82 increased positions. They now own 54.90 million shares or 1.26% less from 55.60 million shares in 2016Q1.
Voloridge Investment Management Llc last reported 0.02% of its portfolio in the stock. The Massachusetts-based Commonwealth Equity Svcs has invested 0% in Cirrus Logic, Inc. (NASDAQ:CRUS). Blackrock Fund Advsr has 3.96 million shares for 0.03% of their US portfolio. Northern Trust reported 947,046 shares or 0.01% of all its holdings. Arcadia Mgmt Corp Mi holds 500 shares or 0.01% of its portfolio. Dekabank Deutsche Girozentrale accumulated 1,580 shares or 0% of the stock. Thrivent Fincl For Lutherans holds 0.02% or 88,700 shares in its portfolio. Quantitative Inv Management Ltd reported 33,100 shares or 0.06% of all its holdings. Advisory Svcs Ltd Liability Corp reported 1,780 shares or 0.02% of all its holdings. Ladenburg Thalmann Fincl Svcs Inc holds 0% or 1,526 shares in its portfolio. Highbridge Capital Mgmt Ltd Liability Company has 0% invested in the company for 7,350 shares. Moreover, National Bank Of America Corp De has 0% invested in Cirrus Logic, Inc. (NASDAQ:CRUS) for 430,545 shares. Oxford Asset Management has 209,018 shares for 0.34% of their US portfolio. Moreover, Systematic Lp has 0.02% invested in Cirrus Logic, Inc. (NASDAQ:CRUS) for 44,935 shares. Old Mutual Glob (Uk) Limited owns 173,067 shares or 0.13% of their US portfolio.
Insider Transactions: Since June 2, 2016, the stock had 0 buys, and 35 selling transactions for $40.64 million net activity. CARTER JOHN C sold $1.39 million worth of stock. FLUKE BRADLEY J also sold $233,201 worth of Cirrus Logic, Inc. (NASDAQ:CRUS) on Tuesday, November 1. $431,250 worth of Cirrus Logic, Inc. (NASDAQ:CRUS) was sold by SCHUELE ALAN R. Another trade for 14,169 shares valued at $779,355 was sold by THOMAS SCOTT. 266 shares with value of $9,696 were sold by SHERMAN WILLIAM D on Tuesday, July 5. Another trade for 86,982 shares valued at $4.84 million was sold by Rhode Jason P. Another trade for 40,000 shares valued at $1.95M was sold by ANDERSON SCOTT ARNOLD.
More news for Cirrus Logic, Inc. (NASDAQ:CRUS) were recently published by: Fool.com, which released: “Why Cirrus Logic, Inc. Jumped Today” on October 28, 2016. Investorplace.com‘s article titled: “Trade of the Day: Cirrus Logic, Inc. (CRUS) Signaling Upcoming Gains” and published on November 23, 2016 is yet another important article.
CRUS Company Profile
Cirrus Logic, Inc., incorporated on August 26, 1998, is engaged in providing integrated circuits (ICs) for audio and voice signal processing applications. The Firm develops analog and mixed-signal ICs for a range of customers. The Firm offers two product lines: Portable Audio, and Non-Portable Audio and Other. The Company’s products span the entire audio signal chain, from capture to playback, providing products for a range of smartphones, tablets, digital headsets, wearables and smart home applications. The Company’s primary facility housing engineering, sales and marketing, and administration functions is located in Austin, Texas. The Firm offers products through both direct and indirect sales channels across the world.
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