Cirrus Logic (NASDAQ:CRUS) Upgraded to Buy at Benchmark

Cirrus Logic (NASDAQ:CRUS) was upgraded by equities researchers at Benchmark from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday,Briefing.com Automated Import reports.

Several other analysts have also issued reports on CRUS. StockNews.com upgraded Cirrus Logic from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Barclays lifted their target price on shares of Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a report on Wednesday. Stifel Nicolaus reduced their target price on shares of Cirrus Logic from $165.00 to $140.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Loop Capital assumed coverage on shares of Cirrus Logic in a research report on Tuesday, November 12th. They set a “buy” rating and a $130.00 price target on the stock. Finally, Susquehanna upped their price target on shares of Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a research note on Monday, November 18th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Cirrus Logic has a consensus rating of “Moderate Buy” and a consensus target price of $134.17.

Cirrus Logic Trading Up 5.8 %

Shares of NASDAQ CRUS traded up $5.85 during trading hours on Wednesday, reaching $107.24. The stock had a trading volume of 879,214 shares, compared to its average volume of 691,226. The firm has a 50-day moving average of $102.43 and a 200-day moving average of $116.21. The firm has a market cap of $5.70 billion, a price-to-earnings ratio of 18.10 and a beta of 0.91. Cirrus Logic has a fifty-two week low of $77.49 and a fifty-two week high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last issued its earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share 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%. On average, equities analysts predict that Cirrus Logic will post 5.21 EPS for the current year.

Institutional Trading of Cirrus Logic

A number of hedge funds have recently added to or reduced their stakes in CRUS. Stonegate Investment Group LLC raised its holdings in Cirrus Logic by 5.3% in the 3rd quarter. Stonegate Investment Group LLC now owns 1,776 shares of the semiconductor company’s stock valued at $221,000 after buying an additional 90 shares during the period. Atria Investments Inc grew its holdings in Cirrus Logic by 2.9% during the third quarter. Atria Investments Inc now owns 3,596 shares of the semiconductor company’s stock worth $447,000 after acquiring an additional 101 shares during the period. Nisa Investment Advisors LLC grew its holdings in Cirrus Logic by 98.4% during the third quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 120 shares during the period. Captrust Financial Advisors grew its holdings in Cirrus Logic by 5.3% in the third 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 grew its holdings in Cirrus Logic by 4.1% in the fourth 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. 87.96% of the stock is 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.