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

Benchmark reaffirmed their buy rating on shares of Cirrus Logic (NASDAQ:CRUS) in a research note released on Wednesday morning,Benzinga reports. They currently have a $125.00 price objective on the semiconductor company’s stock.

Other equities research analysts also recently issued reports about the company. Barclays boosted their price target on Cirrus Logic from $105.00 to $115.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. StockNews.com upgraded shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock 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 $99.79 on Wednesday. The firm has a fifty day moving average of $103.35 and a two-hundred day moving average of $109.70. The firm has a market cap of $5.30 billion, a P/E ratio of 18.11 and a beta of 0.89. Cirrus Logic has a 1-year low of $81.30 and a 1-year high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 EPS 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%. On average, sell-side analysts expect that Cirrus Logic will post 5.63 EPS 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 dated Monday, February 3rd. The shares were sold at an average price of $100.00, for a total transaction of $205,100.00. Following the completion of the transaction, the executive vice president now directly owns 8,330 shares of the company’s stock, valued at $833,000. The trade was a 19.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.02% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cirrus Logic

A number of hedge funds have recently made changes to their positions in the business. Castlekeep Investment Advisors LLC acquired a new stake in Cirrus Logic in the 4th quarter valued at approximately $170,796,000. Allianz Asset Management GmbH increased its holdings in shares of Cirrus Logic by 137.2% during the fourth quarter. Allianz Asset Management GmbH now owns 1,044,880 shares of the semiconductor company’s stock valued at $104,049,000 after purchasing an additional 604,431 shares during the period. Norges Bank acquired a new position in shares of Cirrus Logic during the fourth quarter valued at $58,723,000. Pacer Advisors Inc. raised its stake in shares of Cirrus Logic by 44.0% during the fourth quarter. Pacer Advisors Inc. now owns 1,267,792 shares of the semiconductor company’s stock valued at $126,247,000 after purchasing an additional 387,346 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in Cirrus Logic by 139.4% in the fourth quarter. Deutsche Bank AG now owns 586,733 shares of the semiconductor company’s stock worth $58,427,000 after purchasing an additional 341,615 shares during the period. Institutional investors 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.