Barclays Maintains Cirrus Logic to Equalweight with Price Target $38.00

Brokerage firm Barclays Maintains its rating on Cirrus Logic(NASDAQ:CRUS). In a research note issued to the investors, the brokerage major Raises the price-target to $38.00 per share. The shares have been rated Equalweight. The rating by Barclays was issued on Jul 28, 2016.

In a different note, On Jul 5, 2016, Pacific Crest said it Downgrades its rating on Cirrus Logic. The shares have been rated ‘Sectorweight’ by the firm. Canaccord Genuity said it Initiates Coverage on Cirrus Logic, according to a research note issued on Jun 21, 2016. The shares have been rated ‘Buy’ by the firm. On May 5, 2016, Barclays said it Downgrades its rating on Cirrus Logic. In the research note, the firm Lowers the price-target to $37.00 per share. The shares have been rated ‘Equal-weight’ by the firm.

Cirrus Logic (CRUS) made into the market gainers list on Thursdays trading session with the shares advancing 1.47% or 0.71 points. Due to strong positive momentum, the stock ended at $49.01, which is also near the day’s high of $49.25. The stock began the session at $48.4 and the volume stood at 9,47,769 shares. The 52-week high of the shares is $50 and the 52 week low is $24.5701. The company has a current market capitalization of $3,062 M and it has 6,24,80,659 shares in outstanding.

Cirrus Logic(CRUS) last announced its earnings results on Jul 27, 2016 for Fiscal Year 2017 and Q1.Company reported revenue of $259.43M. Analysts had an estimated revenue of $236.38M. Earnings per share were $0.44. Analysts had estimated an EPS of $0.28.

Several Insider Transactions has been reported to the SEC. On Jul 6, 2016, William D Sherman (director) sold 266 shares at $36.45 per share price.Also, On Jun 23, 2016, Thurman K Case (VP and CFO) sold 32,000 shares at $40.00 per share price.On Jun 23, 2016, Alan R Schuele (director) sold 6,482 shares at $40.00 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 People’s 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.

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