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

Cirrus Logic (NASDAQ:CRUS) was upgraded by Benchmark from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday,Briefing.com Automated Import reports.

CRUS has been the subject of a number of other reports. StockNews.com raised Cirrus Logic from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Stifel Nicolaus reduced their target price on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Loop Capital began coverage on Cirrus Logic in a research note on Tuesday, November 12th. They issued a “buy” rating and a $130.00 price target on the stock. Barclays lifted their price target on Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, Susquehanna boosted their price objective on Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a report on Monday, November 18th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Cirrus Logic presently has a consensus rating of “Moderate Buy” and an average price target of $134.17.

Cirrus Logic Price Performance

Shares of NASDAQ CRUS traded up $5.85 during mid-day trading on Wednesday, hitting $107.24. The company had a trading volume of 879,214 shares, compared to its average volume of 691,226. The stock 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 12 month low of $77.49 and a 12 month high of $147.46. The firm’s 50 day simple moving average is $102.43 and its two-hundred day simple moving average is $116.21.

Cirrus Logic (NASDAQ:CRUS) last announced its earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.21). Cirrus Logic had a return on equity of 18.15% and a net margin of 17.19%. Equities analysts forecast that Cirrus Logic will post 5.21 earnings per share for the current year.

Institutional Investors Weigh In On Cirrus Logic

Several large investors have recently modified their holdings of CRUS. Huntington National Bank lifted its holdings 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 worth $26,000 after acquiring an additional 210 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Cirrus Logic by 98.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 120 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in shares of Cirrus Logic during the 3rd quarter valued at about $31,000. Westside Investment Management Inc. bought a new stake in shares of Cirrus Logic during the 3rd quarter valued at about $35,000. Finally, Sound Income Strategies LLC bought a new stake in shares of Cirrus Logic during the 4th quarter valued at about $46,000. 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.