Cirrus Logic (NASDAQ:CRUS) Given “Buy” Rating at Benchmark

Cirrus Logic (NASDAQ:CRUS)‘s stock had its “buy” rating reiterated by research analysts at Benchmark in a research note issued on Wednesday,Benzinga reports. They currently have a $125.00 target price on the semiconductor company’s stock. Benchmark’s price target points to a potential upside of 23.93% from the stock’s current price.

A number of other research firms have also weighed in on CRUS. Barclays raised their target price on shares of Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. StockNews.com raised shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $132.86.

Cirrus Logic Trading Up 0.5 %

CRUS stock opened at $100.86 on Wednesday. The business’s 50-day moving average is $103.57 and its 200 day moving average is $110.15. Cirrus Logic has a 12-month low of $81.30 and a 12-month high of $147.46. The stock has a market cap of $5.36 billion, a price-to-earnings ratio of 18.30 and a beta of 0.89.

Cirrus Logic (NASDAQ:CRUS) last released its earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.21). Cirrus Logic had a return on equity of 16.60% and a net margin of 16.55%. As a group, equities analysts forecast that Cirrus Logic will post 5.63 EPS for the current fiscal year.

Insider Buying and Selling at Cirrus Logic

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $100.00, for a total value of $205,100.00. Following the completion of the transaction, the executive vice president now owns 8,330 shares in the company, valued at $833,000. The trade was a 19.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.02% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cirrus Logic

Several institutional investors have recently modified their holdings of the business. FMR LLC grew its stake in shares of Cirrus Logic by 6.3% in the third quarter. FMR LLC now owns 3,678,141 shares of the semiconductor company’s stock worth $456,862,000 after acquiring an additional 217,404 shares in the last quarter. LSV Asset Management grew its stake in shares of Cirrus Logic by 7.3% during the fourth quarter. LSV Asset Management now owns 2,256,760 shares of the semiconductor company’s stock worth $224,728,000 after purchasing an additional 154,048 shares in the last quarter. Mackenzie Financial Corp grew its stake in shares of Cirrus Logic by 12.0% during the fourth quarter. Mackenzie Financial Corp now owns 1,835,186 shares of the semiconductor company’s stock worth $182,748,000 after purchasing an additional 196,483 shares in the last quarter. Castlekeep Investment Advisors LLC acquired a new position in shares of Cirrus Logic during the fourth quarter worth $170,796,000. Finally, Wellington Management Group LLP grew its stake in shares of Cirrus Logic by 4.1% during the fourth quarter. Wellington Management Group LLP now owns 1,643,287 shares of the semiconductor company’s stock worth $163,639,000 after purchasing an additional 65,441 shares in the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

Cirrus Logic Company Profile

Cirrus Logic, Inc, a fabless semiconductor company, develops low-power high-precision mixed-signal processing solutions in China, the United States, and internationally. The company offers audio products, including amplifiers; codecs components that integrate analog-to-digital converters (ADCs) and digital-to-analog converters (DACs) into a single integrated circuit (IC); smart codecs, a codec with integrated digital signal processing; standalone digital signal processors; and SoundClear technology, which consists of a portfolio of tools, software, and algorithms that helps to enhance user experience with features, such as louder, high-fidelity sound, audio playback, voice capture, and hearing augmentation for use in smartphones, tablets, laptops, AR/VR headsets, home theater systems, automotive entertainment systems, and professional audio systems.