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

Benchmark reaffirmed their buy rating on shares of Cirrus Logic (NASDAQ:CRUS) in a research report report published on Wednesday,Benzinga reports. Benchmark currently has a $125.00 price target on the semiconductor company’s stock.

Several other equities research analysts also recently weighed in on the company. StockNews.com raised Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Barclays increased their price target on Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $132.86.

Cirrus Logic Price Performance

Shares of CRUS stock opened at $101.05 on Wednesday. The firm has a market capitalization of $5.37 billion, a price-to-earnings ratio of 18.34 and a beta of 0.89. The business has a fifty day moving average of $103.48 and a 200 day moving average of $110.09. Cirrus Logic has a 1 year low of $81.30 and a 1 year 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 for the quarter, missing the consensus estimate 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 research analysts expect that Cirrus Logic will post 5.63 earnings per share for the current year.

Insiders Place Their Bets

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $100.00, for a total transaction of $205,100.00. Following the completion of the sale, the executive vice president now directly owns 8,330 shares in the company, valued at approximately $833,000. The trade was a 19.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.02% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cirrus Logic

Several large investors have recently bought and sold shares of the company. Huntington National Bank boosted its holdings in shares of Cirrus Logic by 10,500.0% during the 3rd quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 210 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Cirrus Logic during the 4th quarter worth approximately $28,000. Westside Investment Management Inc. acquired a new position in shares of Cirrus Logic during the 3rd quarter worth approximately $35,000. Headlands Technologies LLC acquired a new position in shares of Cirrus Logic during the 4th quarter worth approximately $39,000. Finally, Sound Income Strategies LLC acquired a new position in shares of Cirrus Logic during the 4th quarter worth approximately $46,000. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

About Cirrus Logic

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.