Needham analyst Rajvindra Gill assigned a Hold rating to Cirrus Logic (CRUS) today. The company’s shares closed last Friday at $65.58.
According to TipRanks.com, Gill is a 4-star analyst with an average return of 4.5% and a 49.0% success rate. Gill covers the Technology sector, focusing on stocks such as Sequans Communications S A, Everspin Technologies, and Smart Global Holdings.
Currently, the analyst consensus on Cirrus Logic is a Moderate Buy with an average price target of $86.00, a 33.4% upside from current levels. In a report issued on May 4, Oppenheimer also maintained a Hold rating on the stock.
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Based on Cirrus Logic’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $279 million and net profit of $10.16 million. In comparison, last year the company earned revenue of $240 million and had a net profit of $6.16 million.
Based on the recent corporate insider activity of 53 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CRUS in relation to earlier this year. Most recently, in March 2020, Bradley Fluke, the VP & GM, MEMS Division of CRUS bought 1,067 shares for a total of $33,344.
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Cirrus Logic, Inc. develops 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. The company was founded by Suhas S. Patil and Michael L. Hackworth in 1984 and is headquartered in Austin, TX.
