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

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

A number of other equities analysts also recently weighed in on the stock. Barclays increased their price target 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 investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Cirrus Logic has a consensus rating of “Moderate Buy” and a consensus target price of $132.86.

Cirrus Logic Stock Down 0.1 %

Shares of NASDAQ:CRUS opened at $99.79 on Wednesday. The company has a market cap of $5.30 billion, a P/E ratio of 18.11 and a beta of 0.89. The business has a fifty day simple moving average of $103.35 and a 200-day simple moving average of $109.70. Cirrus Logic has a 52 week low of $81.30 and a 52 week high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last issued 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 return on equity of 16.60% and a net margin of 16.55%. Sell-side analysts expect that Cirrus Logic will post 5.63 earnings per share for the current fiscal year.

Insider Activity at Cirrus Logic

In related news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $100.00, for a total transaction of $205,100.00. Following the sale, the executive vice president now directly owns 8,330 shares in the company, valued at approximately $833,000. This trade represents a 19.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.02% of the company’s stock.

Institutional Trading of Cirrus Logic

Hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Cirrus Logic by 21.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 720,771 shares of the semiconductor company’s stock valued at $89,527,000 after purchasing an additional 129,457 shares during the period. Geode Capital Management LLC boosted its position in Cirrus Logic by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,138,279 shares of the semiconductor company’s stock valued at $141,414,000 after buying an additional 50,582 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Cirrus Logic by 30.4% during the third quarter. JPMorgan Chase & Co. now owns 296,357 shares of the semiconductor company’s stock valued at $36,811,000 after acquiring an additional 69,006 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Cirrus Logic during the third quarter worth about $2,543,000. Finally, Hancock Whitney Corp acquired a new position in shares of Cirrus Logic in the third quarter worth about $898,000. Hedge funds and other institutional investors own 87.96% of the company’s stock.

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.