Cirrus Logic’s (CRUS) “Buy” Rating Reaffirmed at Benchmark

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

A number of other brokerages also recently commented on CRUS. Barclays boosted their price objective 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 Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $132.86.

Cirrus Logic Stock Performance

Shares of NASDAQ CRUS opened at $100.86 on Wednesday. The firm has a market capitalization of $5.36 billion, a price-to-earnings ratio of 18.30 and a beta of 0.89. The stock has a 50 day moving average price of $103.57 and a 200 day moving average price of $110.15. Cirrus Logic has a 52-week low of $81.30 and a 52-week high of $147.46.

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

Insider Activity at Cirrus Logic

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the company’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 sale, the executive vice president now directly owns 8,330 shares of the company’s stock, valued at approximately $833,000. This represents a 19.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.02% of the stock is owned by insiders.

Institutional Investors Weigh In On Cirrus Logic

Several hedge funds have recently added to or reduced their stakes in CRUS. Menard Financial Group LLC purchased a new stake in shares of Cirrus Logic during the 4th quarter worth about $67,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Cirrus Logic during the 4th quarter worth about $9,620,000. Mackenzie Financial Corp boosted its stake in shares of Cirrus Logic by 12.0% during the 4th quarter. Mackenzie Financial Corp now owns 1,835,186 shares of the semiconductor company’s stock worth $182,748,000 after acquiring an additional 196,483 shares in the last quarter. Castlekeep Investment Advisors LLC purchased a new stake in shares of Cirrus Logic during the 4th quarter worth about $1,695,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Cirrus Logic by 10.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 204,799 shares of the semiconductor company’s stock worth $20,394,000 after acquiring an additional 18,754 shares in the last quarter. 87.96% of the stock is owned by hedge funds and other institutional investors.

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.