News headlines about Cirrus Logic (NASDAQ:CRUS) have trended somewhat positive this week, Accern Sentiment reports. The research firm identifies positive and negative media coverage by reviewing more than 20 million blog and news sources in real time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Cirrus Logic earned a daily sentiment score of 0.05 on Accern’s scale. Accern also assigned news headlines about the semiconductor company an impact score of 46.6339119607667 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.
Shares of Cirrus Logic (NASDAQ:CRUS) traded down $1.17 during trading on Wednesday, reaching $43.35. The company had a trading volume of 860,470 shares, compared to its average volume of 1,610,000. The stock has a market capitalization of $2,750.00, a price-to-earnings ratio of 11.84, a price-to-earnings-growth ratio of 1.31 and a beta of 0.11. Cirrus Logic has a 52 week low of $39.51 and a 52 week high of $71.97.
Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Monday, February 5th. The semiconductor company reported $1.59 earnings per share for the quarter, missing the consensus estimate of $1.78 by ($0.19). The business had revenue of $482.70 million during the quarter, compared to analysts’ expectations of $530.99 million. Cirrus Logic had a return on equity of 22.60% and a net margin of 11.89%. The company’s revenue was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.87 earnings per share. equities research analysts expect that Cirrus Logic will post 3.78 EPS for the current year.
Cirrus Logic declared that its board has approved a stock repurchase program on Monday, February 5th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the semiconductor company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
A number of equities analysts recently weighed in on CRUS shares. MKM Partners reduced their price target on Cirrus Logic to $54.00 and set a “buy” rating for the company in a report on Tuesday, February 6th. Northland Securities reaffirmed a “buy” rating and issued a $60.00 price target on shares of Cirrus Logic in a report on Tuesday, February 6th. Stifel Nicolaus reduced their price target on Cirrus Logic from $75.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, February 6th. ValuEngine raised Cirrus Logic from a “hold” rating to a “buy” rating in a report on Friday, February 9th. Finally, BidaskClub raised Cirrus Logic from a “sell” rating to a “hold” rating in a report on Friday, January 19th. Five equities research analysts have rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $60.22.
In related news, Director Christine King sold 562 shares of Cirrus Logic stock in a transaction on Friday, December 15th. The stock was sold at an average price of $49.75, for a total value of $27,959.50. Following the completion of the transaction, the director now directly owns 11,744 shares in the company, valued at $584,264. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Randolph K. Carlson sold 7,265 shares of Cirrus Logic stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $42.03, for a total value of $305,347.95. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,450 shares of company stock valued at $363,121. Company insiders own 1.92% of the company’s stock.
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Cirrus Logic Company Profile
Cirrus Logic, Inc is engaged in providing integrated circuits (ICs) for audio and voice signal processing applications. The Company develops analog and mixed-signal ICs for a range of customers. The Company offers two product lines: Portable Audio, and Non-Portable Audio and Other. The Company’s primary facility housing engineering, sales and marketing, and administration functions is located in Austin, Texas.
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