Is Buying Stock Like Cirrus Logic, Inc. Good Idea After Today’s Bullish Options Activity?

 Is Buying Stock Like Cirrus Logic, Inc. Good Idea After Today's Bullish Options Activity?

In today’s session Cirrus Logic, Inc. (CRUS) registered an unusually high (232) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the March, 2017 call, expecting serious CRUS increase. With 232 contracts traded and 854 open interest for the Mar, 17 contract, it seems this is a quite bullish bet. The option with symbol: CRUS170317C00055000 closed last at: $4.8 or 5.9% down. About 786,909 shares traded hands. Cirrus Logic, Inc. (NASDAQ:CRUS) has risen 55.10% since March 29, 2016 and is uptrending. It has outperformed by 51.63% the S&P500.

Cirrus Logic, Inc. (NASDAQ:CRUS) Ratings Coverage

Out of 8 analysts covering Cirrus Logic (NASDAQ:CRUS), 8 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $70 is the highest target while $38.0 is the lowest. The $53.60 average target is -1.49% below today’s ($54.41) stock price. Cirrus Logic has been the topic of 15 analyst reports since July 23, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by Stifel Nicolaus given on Friday, October 28. The company was maintained on Friday, October 28 by Canaccord Genuity. The stock has “Buy” rating given by Stifel Nicolaus on Thursday, July 23. The company was initiated on Monday, March 14 by Needham. Dougherty & Company initiated the shares of CRUS in a report on Monday, November 30 with “Buy” rating. As per Thursday, January 28, the company rating was upgraded by Oppenheimer. The stock of Cirrus Logic, Inc. (NASDAQ:CRUS) earned “Buy” rating by Topeka Capital Markets on Friday, February 26. As per Tuesday, September 20, the company rating was maintained by Canaccord Genuity. Canaccord Genuity initiated it with “Buy” rating and $52 target price in Tuesday, June 21 report. Stifel Nicolaus maintained the shares of CRUS in a report on Thursday, October 13 with “Buy” rating.

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 increased to 1.02 in 2016 Q2. Its up 0.15, from 0.87 in 2016Q1. The ratio is positive, 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.
The Illinois-based Guggenheim Ltd Liability Corp has invested 0.02% in Cirrus Logic, Inc. (NASDAQ:CRUS). Barclays Public Limited Com owns 47 shares or 0% of their US portfolio. Moreover, Allianz Asset Mgmt Ag has 0.02% invested in Cirrus Logic, Inc. (NASDAQ:CRUS) for 1.19M shares. Federated Invsts Pa holds 12,369 shares or 0% of its portfolio. Cap One Association has 0.04% invested in the company for 11,710 shares. New York State Common Retirement Fund has 71,405 shares for 0% of their US portfolio. Apriem holds 1,000 shares or 0.01% of its portfolio. First Mercantile has 0.01% invested in the company for 2,372 shares. Sprott Incorporated holds 273,500 shares or 0.55% of its portfolio. Cantab Partners Limited Liability Partnership has 0% invested in the company for 7,432 shares. The North Carolina-based Holderness Invs has invested 2.39% in Cirrus Logic, Inc. (NASDAQ:CRUS). Lazard Asset Management Ltd Com, a New York-based fund reported 5,656 shares. Pinebridge Invs L P last reported 7,892 shares in the company. Hl Fincl Ltd Llc has 0.01% invested in the company for 13,491 shares. Nationwide Fund, a Pennsylvania-based fund reported 55,953 shares.

Insider Transactions: Since May 2, 2016, the stock had 0 insider buys, and 21 selling transactions for $21.72 million net activity. ANDERSON SCOTT ARNOLD had sold 10,000 shares worth $490,525 on Thursday, August 4. Another trade for 6,462 shares valued at $228,128 was sold by DEHNE TIMOTHY R. SHERMAN WILLIAM D also sold $10,041 worth of Cirrus Logic, Inc. (NASDAQ:CRUS) on Monday, May 2. CARTER JOHN C had sold 15,000 shares worth $702,254 on Thursday, July 28. Rhode Jason P also sold $4.38M worth of Cirrus Logic, Inc. (NASDAQ:CRUS) on Monday, September 12. Carlson Randolph K sold $383,483 worth of Cirrus Logic, Inc. (NASDAQ:CRUS) on Monday, August 8. Another trade for 24,968 shares valued at $1.18M was sold by CASE THURMAN K.

Cirrus Logic, Inc. is engaged in providing integrated circuits for audio and voice signal processing applications. The company has a market cap of $3.63 billion. The Firm develops analog and mixed-signal ICs for a range of customers. It has a 23.9 P/E ratio. The Firm offers two product lines: Portable Audio, and Non-Portable Audio and Other.

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.

More notable recent Cirrus Logic, Inc. (NASDAQ:CRUS) news were published by: Fool.com which released: “Why Cirrus Logic, Inc. Jumped Today” on October 28, 2016, also Reuters.com with their article: “Cirrus Logic surges as Wall Street plugs in high-tech earbuds” published on October 28, 2016, Nasdaq.com published: “Earnings Reaction History: Cirrus Logic Inc., 54.5% Follow-Through Indicator …” on October 27, 2016. More interesting news about Cirrus Logic, Inc. (NASDAQ:CRUS) were released by: Schaeffersresearch.com and their article: “Analyst Update: Under Armour Inc, Cirrus Logic, Inc., and NuVasive, Inc.” published on October 26, 2016 as well as Zacks.com‘s news article titled: “Cirrus Logic (CRUS) Q2 Earnings: Is a Surprise in Store?” with publication date: October 24, 2016.

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