Cirrus Logic (NASDAQ:CRUS) Raised to “Buy” at Benchmark

Benchmark upgraded shares of Cirrus Logic (NASDAQ:CRUS) from a hold rating to a buy rating in a research report report published on Wednesday morning, Marketbeat.com reports. The firm currently has $125.00 price objective on the semiconductor company’s stock.

Several other equities research analysts have also recently issued reports on the stock. Susquehanna raised their price objective on shares of Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a research report on Monday, November 18th. Barclays raised 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 report on Wednesday. Loop Capital started coverage on shares of Cirrus Logic in a research report on Tuesday, November 12th. They set a “buy” rating and a $130.00 price objective for the company. Stifel Nicolaus cut their price objective on shares of Cirrus Logic from $165.00 to $140.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Finally, StockNews.com upgraded 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 assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.86.

Cirrus Logic Stock Up 2.3 %

Shares of NASDAQ CRUS opened at $106.77 on Wednesday. The firm has a 50-day simple moving average of $102.54 and a 200-day simple moving average of $115.86. The stock has a market capitalization of $5.67 billion, a price-to-earnings ratio of 18.10 and a beta of 0.91. 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 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 net margin of 17.19% and a return on equity of 18.15%. As a group, equities research analysts expect that Cirrus Logic will post 5.21 EPS for the current year.

Insiders Place Their Bets

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the 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 owns 8,330 shares of the company’s stock, valued at $833,000. This trade represents a 19.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.02% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Bank of Montreal Can boosted its stake in shares of Cirrus Logic by 3.2% in the second quarter. Bank of Montreal Can now owns 5,398 shares of the semiconductor company’s stock valued at $689,000 after purchasing an additional 166 shares during the period. Creative Planning boosted its stake in shares of Cirrus Logic by 31.6% in the second quarter. Creative Planning now owns 7,518 shares of the semiconductor company’s stock valued at $960,000 after purchasing an additional 1,807 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Cirrus Logic by 52.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 961 shares of the semiconductor company’s stock valued at $123,000 after purchasing an additional 329 shares during the period. Sanctuary Advisors LLC purchased a new position in shares of Cirrus Logic in the second quarter valued at approximately $1,009,000. Finally, Handelsbanken Fonder AB boosted its stake in shares of Cirrus Logic by 20.8% in the third quarter. Handelsbanken Fonder AB now owns 15,695 shares of the semiconductor company’s stock valued at $1,949,000 after purchasing an additional 2,700 shares during the period. Hedge funds and other 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.