What’s Ahead for Cirrus Logic, Inc. After Today’s Bearish Options Activity?

 What's Ahead for Cirrus Logic, Inc. After Today's Bearish Options Activity?

In today’s session Cirrus Logic, Inc. (CRUS) recorded an unusually high (354) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2016 put, expecting serious CRUS decrease. With 354 contracts traded and 4804 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: CRUS161118P00055000 closed last at: $1.45 or 31% down. About 543,751 shares traded hands. Cirrus Logic, Inc. (NASDAQ:CRUS) has risen 43.90% since April 13, 2016 and is uptrending. It has outperformed by 39.97% 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. Cirrus Logic has been the topic of 15 analyst reports since July 23, 2015 according to StockzIntelligence Inc. Oppenheimer upgraded the shares of CRUS in a report on Thursday, January 28 to “Outperform” rating. The stock of Cirrus Logic, Inc. (NASDAQ:CRUS) has “Buy” rating given on Thursday, July 23 by Stifel Nicolaus. On Monday, March 14 the stock rating was initiated by Needham with “Buy”. The stock has “Buy” rating given by Stifel Nicolaus on Thursday, October 13. Canaccord Genuity initiated it with “Buy” rating and $52 target price in Tuesday, June 21 report. The company was maintained on Tuesday, September 20 by Canaccord Genuity. The firm has “Buy” rating by Dougherty & Company given on Monday, November 30. Rosenblatt maintained the shares of CRUS in a report on Thursday, July 23 with “Buy” rating. The company was maintained on Friday, January 8 by Stifel Nicolaus. Stifel Nicolaus maintained the stock with “Buy” rating in Thursday, September 8 report.

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 Q2 2016. 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.
Guggenheim Ltd Com has 0.02% invested in the company for 123,178 shares. Pnc Fincl Svcs Gru, a Pennsylvania-based fund reported 6,914 shares. Federated Invsts Inc Pa, a Pennsylvania-based fund reported 12,369 shares. Babson Mgmt Limited Liability Com last reported 11,100 shares in the company. Aqr Ltd Liability Com accumulated 0.01% or 132,304 shares. Dekabank Deutsche Girozentrale accumulated 1,580 shares or 0% of the stock. Janney Montgomery Scott Ltd Company owns 5,790 shares or 0% of their US portfolio. Mutual Of America Mgmt Llc has 0.04% invested in the company for 44,162 shares. The New York-based Gotham Asset Mgmt Limited Liability Corp has invested 0% in Cirrus Logic, Inc. (NASDAQ:CRUS). Provise Mgmt Grp Inc Limited Liability last reported 0.11% of its portfolio in the stock. Moreover, Tiaa Cref Investment Mngmt Ltd Llc has 0.01% invested in Cirrus Logic, Inc. (NASDAQ:CRUS) for 335,387 shares. Twin Capital Management last reported 46,592 shares in the company. The California-based Wcm Inv Mngmt Ca has invested 0.07% in Cirrus Logic, Inc. (NASDAQ:CRUS). Blackrock Fund Advsrs holds 3.96M shares or 0.03% of its portfolio. Wells Fargo And Mn owns 606,319 shares or 0.01% of their US portfolio.

Insider Transactions: Since May 23, 2016, the stock had 0 insider purchases, and 35 selling transactions for $42.05 million net activity. 7,500 shares were sold by Carlson Randolph K, worth $383,483. Rhode Jason P also sold $5.19M worth of Cirrus Logic, Inc. (NASDAQ:CRUS) shares. 19,493 Cirrus Logic, Inc. (NASDAQ:CRUS) shares with value of $1.06M were sold by DEHNE TIMOTHY R. Another trade for 26,480 shares valued at $1.44 million was sold by THOMAS SCOTT. 24,968 shares were sold by CASE THURMAN K, worth $1.18 million. 10,000 shares were sold by ANDERSON SCOTT ARNOLD, worth $490,525 on Thursday, August 4. Benson JoDee sold $4.13 million worth of Cirrus Logic, Inc. (NASDAQ:CRUS) on Monday, October 31.

Cirrus Logic, Inc. is engaged in providing integrated circuits for audio and voice signal processing applications. The company has a market cap of $3.32 billion. The Firm develops analog and mixed-signal ICs for a range of customers. It has a 23.51 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 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. Streetinsider.com‘s article titled: “Cirrus Logic, Inc. (CRUS) Q2 Results and Guidance Beat Estimates” and published on October 27, 2016 is yet another important article.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Related posts

Leave a Comment