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

Benchmark restated their buy rating on shares of Cirrus Logic (NASDAQ:CRUS - Free Report) in a research report report published on Wednesday morning,Benzinga reports. Benchmark currently has a $125.00 target price on the semiconductor company's stock.

A number of other equities research analysts have also recently commented on CRUS. Barclays lifted their price target on shares of Cirrus Logic from $105.00 to $115.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 5th. StockNews.com raised shares of Cirrus Logic from a "hold" rating to a "buy" rating in a 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 stock. Based on data from MarketBeat, Cirrus Logic currently has an average rating of "Moderate Buy" and an average target price of $132.86.

Cirrus Logic Stock Performance

Shares of Cirrus Logic stock traded down $0.08 during mid-day trading on Wednesday, hitting $99.79. 2,452,053 shares of the stock were exchanged, compared to its average volume of 575,271. Cirrus Logic has a 12 month low of $81.30 and a 12 month high of $147.46. The company has a 50-day simple moving average of $103.35 and a 200 day simple moving average of $109.30. The company has a market capitalization of $5.30 billion, a P/E ratio of 18.11 and a beta of 0.89.

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Cirrus Logic (NASDAQ:CRUS - Get Free Report) last posted its earnings results 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%. Analysts predict that Cirrus Logic will post 5.63 EPS for the current year.

Insider Buying and Selling at Cirrus Logic

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the business's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $100.00, for a total transaction of $205,100.00. Following the sale, the executive vice president now owns 8,330 shares of the company's stock, valued at $833,000. The trade was a 19.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.02% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CRUS. Atria Investments Inc grew its position 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 in the last quarter. Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of Cirrus Logic during the 3rd quarter valued at $415,000. Victory Capital Management Inc. grew its position in shares of Cirrus Logic by 165.6% during the 3rd quarter. Victory Capital Management Inc. now owns 44,681 shares of the semiconductor company's stock valued at $5,550,000 after purchasing an additional 27,856 shares in the last quarter. Huntington National Bank grew its position in shares of Cirrus Logic by 10,500.0% during the 3rd quarter. Huntington National Bank now owns 212 shares of the semiconductor company's stock valued at $26,000 after purchasing an additional 210 shares in the last quarter. Finally, Natixis Advisors LLC grew its position in Cirrus Logic by 11.6% in the third quarter. Natixis Advisors LLC now owns 101,506 shares of the semiconductor company's stock worth $12,608,000 after acquiring an additional 10,579 shares in the last quarter. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

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.