Cirrus Logic (NASDAQ:CRUS) Receives Buy Rating from Benchmark

Cirrus Logic (NASDAQ:CRUS)‘s stock had its “buy” rating reissued by analysts at Benchmark in a report released on Wednesday,Benzinga reports. They currently have a $125.00 target price on the semiconductor company’s stock. Benchmark’s target price would indicate a potential upside of 25.16% from the stock’s current price.

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

Cirrus Logic Stock Performance

Shares of NASDAQ:CRUS opened at $99.87 on Wednesday. The stock’s 50-day simple moving average is $103.38 and its two-hundred day simple moving average is $110.02. Cirrus Logic has a 52-week low of $81.30 and a 52-week high of $147.46. The stock has a market capitalization of $5.31 billion, a price-to-earnings ratio of 18.13 and a beta of 0.89.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $2.15 EPS 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 analysts forecast that Cirrus Logic will post 5.63 earnings per share for the current fiscal year.

Insider Transactions at Cirrus Logic

In related news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the company’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 transaction, the executive vice president now directly owns 8,330 shares of the company’s stock, valued at $833,000. This represents a 19.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.02% of the company’s stock.

Institutional Trading of Cirrus Logic

Several large investors have recently added to or reduced their stakes in the company. Castlekeep Investment Advisors LLC purchased a new stake in shares of Cirrus Logic in the fourth quarter worth about $170,796,000. Allianz Asset Management GmbH boosted its stake in shares of Cirrus Logic by 137.2% in the fourth quarter. Allianz Asset Management GmbH now owns 1,044,880 shares of the semiconductor company’s stock worth $104,049,000 after buying an additional 604,431 shares during the last quarter. Norges Bank purchased a new stake in shares of Cirrus Logic in the fourth quarter worth about $58,723,000. Pacer Advisors Inc. boosted its stake in shares of Cirrus Logic by 44.0% in the fourth quarter. Pacer Advisors Inc. now owns 1,267,792 shares of the semiconductor company’s stock worth $126,247,000 after buying an additional 387,346 shares during the last quarter. Finally, Deutsche Bank AG boosted its stake in shares of 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 buying an additional 341,615 shares during the last quarter. 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.