Analyst Update: Under Armour Inc, Cirrus Logic, Inc., and NuVasive, Inc.

Analysts are weighing in on apparel interest Under Armour Inc (NYSE:UA), Apple Inc. (NASDAQ:AAPL) supplier Cirrus Logic, Inc. (NASDAQ:CRUS), and medical device stock NuVasive, Inc. (NASDAQ:NUVA). Here's a quick roundup of today's brokerage notes on UA, CRUS, and NUVA.

• Analysts are cutting their outlooks on UA after the company's earnings release on Tuesday. Specifically, four brokerage firms have lowered their rating on the stock to the equivalent of a "hold," while no fewer than seven lowered their price targets on the shares. For instance, D.A. Davidson slashed its target price to $42 from $52, saying "we are frustrated with the material reduction in earnings power for 2017–2018." But the firm also maintained its upbeat "buy" rating, adding, "we view the current $13.4 billion market cap as well below UA's long-term potential." Meanwhile, Under Armour Inc CEO Kevin Plank spoke with CNBC this afternoon, stating the company has"eyes on being the number one brand in the world."
  
  On the charts, UA has had a rough 2016 so far, shedding 23% of its value, hitting a two-year low of $31.88 today, last seen off 2.8% at $31.96. There could be more room to fall, too, should optimistic options traders abandon their positions. The stock's 10-week call/put volume ratio of 1.63 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) sits in the top third of all readings taken in the last 12 months.

• CRUS received a price-target hike to $60 from $50 -- representing territory not seen since 1995 -- at Oppenheimer. But the stock is 2% lower at $52.67 today, slumping in the wake of AAPL's earnings disappointment. At the same time, Cirrus Logic, Inc. is preparing to report its own quarterly figures after the close on Thursday. Shareholders shouldn't have too much to complain about at the moment -- CRUS has added more than 78% year-to-date, and tapped a 20-year high of $58.08 in September, pulling back to support at the 50-day moving average since then. Options traders appear to be betting on a move to the upside after earnings. At the ISE, CBOE, and PHLX, the stock's 10-day call/put volume ratio of 2.32 shows long calls more than doubling puts over the period. Plus, this ratio outranks 85% of the past year's readings.

• NUVA is sliding 9.9% to $58.95 after the company reported third-quarter earnings that met expectations, while revenue and guidance fell short. The results were met with price-target cuts from J.P. Morgan Securities, Barclays, Leerink, and Canaccord Genuity -- the latter of which set the lowest target, at $69. The stock is on pace for its biggest percentage drop in more than a year, after climbing the charts steadily since February. Analysts largely remain in NuVasive, Inc.'s bullish corner, however, with 12 out of 14 doling out a "strong buy" rating, and not a single "sell" opinion on the books.