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

Benchmark reiterated their buy rating on shares of Cirrus Logic (NASDAQ:CRUS) in a research note published on Wednesday morning,Benzinga reports. The firm currently has a $125.00 price objective on the semiconductor company’s stock.

A number of other research firms have 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 increased their price objective on Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $132.86.

Cirrus Logic Price Performance

Shares of CRUS stock opened at $101.05 on Wednesday. The company has a market cap of $5.37 billion, a PE ratio of 18.34 and a beta of 0.89. The stock’s 50 day simple moving average is $103.48 and its two-hundred day simple moving average is $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 released 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 16.55% and a return on equity of 16.60%. Equities research 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 company’s stock in a transaction 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 owns 8,330 shares in the company, valued at $833,000. This represents a 19.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.02% of the stock is owned by company insiders.

Institutional Trading of Cirrus Logic

A number of hedge funds have recently bought and sold shares of the stock. Atria Investments Inc lifted its holdings in shares of Cirrus Logic by 2.9% during the 3rd quarter. Atria Investments Inc now owns 3,596 shares of the semiconductor company’s stock valued at $447,000 after purchasing an additional 101 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of Cirrus Logic by 0.7% during the 4th quarter. Arizona State Retirement System now owns 15,492 shares of the semiconductor company’s stock valued at $1,543,000 after purchasing an additional 101 shares during the last quarter. Truvestments Capital LLC lifted its holdings in shares of Cirrus Logic by 3.5% during the 4th quarter. Truvestments Capital LLC now owns 3,981 shares of the semiconductor company’s stock valued at $396,000 after purchasing an additional 133 shares during the last quarter. Captrust Financial Advisors lifted its holdings in shares of Cirrus Logic by 5.3% during the 3rd quarter. Captrust Financial Advisors now owns 2,838 shares of the semiconductor company’s stock valued at $353,000 after purchasing an additional 142 shares during the last quarter. Finally, Ritholtz Wealth Management lifted its holdings in shares of Cirrus Logic by 4.1% during the 4th quarter. Ritholtz Wealth Management now owns 3,925 shares of the semiconductor company’s stock valued at $391,000 after purchasing an additional 153 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.