Benchmark Forecasts Strong Price Appreciation for Cirrus Logic (NASDAQ:CRUS) Stock

Cirrus Logic (NASDAQ:CRUS) had its target price upped by equities research analysts at Benchmark from $150.00 to $160.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Benchmark’s target price indicates a potential upside of 14.20% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. Zacks Research raised shares of Cirrus Logic from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 27th. Barclays lifted their target price on Cirrus Logic from $100.00 to $110.00 and gave the company an “equal weight” rating in a research note on Wednesday. Wall Street Zen cut Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. KeyCorp raised their price target on Cirrus Logic from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. Finally, Stifel Nicolaus boosted their price objective on Cirrus Logic from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $145.43.

Cirrus Logic Trading Up 3.8%

CRUS stock opened at $140.10 on Wednesday. The stock’s 50 day simple moving average is $123.94 and its 200 day simple moving average is $119.89. Cirrus Logic has a 12-month low of $75.83 and a 12-month high of $144.24. The firm has a market cap of $7.15 billion, a P/E ratio of 18.46 and a beta of 1.12.

Cirrus Logic (NASDAQ:CRUS) last released its earnings results on Tuesday, February 3rd. The semiconductor company reported $2.97 earnings per share for the quarter, beating the consensus estimate of $2.37 by $0.60. The firm had revenue of $580.62 million during the quarter, compared to analyst estimates of $531.43 million. Cirrus Logic had a net margin of 20.47% and a return on equity of 20.41%. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.51 earnings per share. On average, research analysts forecast that Cirrus Logic will post 5.63 EPS for the current fiscal year.

Insider Activity

In related news, EVP Andrew Brannan sold 8,913 shares of the stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $119.06, for a total value of $1,061,181.78. Following the completion of the transaction, the executive vice president directly owned 5,950 shares of the company’s stock, valued at $708,407. This represents a 59.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.16% of the company’s stock.

Institutional Trading of Cirrus Logic

Hedge funds have recently added to or reduced their stakes in the business. Diversified Trust Co raised its holdings in Cirrus Logic by 0.9% in the 3rd quarter. Diversified Trust Co now owns 8,974 shares of the semiconductor company’s stock valued at $1,124,000 after acquiring an additional 78 shares in the last quarter. Kendall Capital Management increased its position in shares of Cirrus Logic by 0.9% during the fourth quarter. Kendall Capital Management now owns 10,600 shares of the semiconductor company’s stock valued at $1,256,000 after purchasing an additional 90 shares during the period. EP Wealth Advisors LLC increased its position in shares of Cirrus Logic by 1.7% during the second quarter. EP Wealth Advisors LLC now owns 5,739 shares of the semiconductor company’s stock valued at $598,000 after purchasing an additional 95 shares during the period. Louisiana State Employees Retirement System raised its stake in shares of Cirrus Logic by 0.7% in the second quarter. Louisiana State Employees Retirement System now owns 15,000 shares of the semiconductor company’s stock valued at $1,564,000 after purchasing an additional 100 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its position in Cirrus Logic by 3.3% in the second quarter. Quadrant Capital Group LLC now owns 3,394 shares of the semiconductor company’s stock worth $354,000 after purchasing an additional 107 shares during the period. Institutional investors own 87.96% of the company’s stock.

Cirrus Logic News Roundup

Here are the key news stories impacting Cirrus Logic this week:

• Positive Sentiment: Q3 beat and record revenue — Cirrus reported stronger-than-expected Q3 results and highlighted smartphone-driven demand and a favorable product mix, which underpins the rally. Earnings Call Highlights
• Positive Sentiment: Very strong guidance — Management’s outlook for the next quarter exceeded street expectations and triggered an immediate surge in the stock. Guidance Story
• Positive Sentiment: Analysts lifting targets — Multiple firms raised their forecasts and price targets (examples: Stifel, Benchmark), citing the beat and outlook, which supports further upside. Analyst Coverage
• Positive Sentiment: Visible demand linkage to Apple — Coverage and video commentary highlight Cirrus’s ties to Apple hardware cycles, which can amplify upside when iPhone content per device and volumes rise. AAPL Tie Analysis
• Neutral Sentiment: Earnings materials available — Full earnings presentation and call transcript provide detail for investors to vet mix, margin and backlog assumptions. Presentation & Transcript
• Neutral Sentiment: Conflicting analyst views — Coverage notes mixed sentiment across the analyst community despite the beat, suggesting differing views on sustainability and sharecentration. Analyst Sentiment Roundup
• Negative Sentiment: Downgrade risk — Loop Capital moved to a Hold, signaling that some firms think upside may be limited from current levels. Loop Capital Downgrade
• Negative Sentiment: Durability concerns raised — A critical analysis argues the headline earnings miss underlying issues (concentration to a few customers and sustainability of mix gains), which could cap multiple expansion if validated. Critical Analysis

About Cirrus Logic

Cirrus Logic, Inc, headquartered in Austin, Texas, is a fabless semiconductor company specializing in high-precision analog and mixed-signal processing solutions. The firm develops low-power, high-performance audio, voice, and power management integrated circuits, serving prominent consumer electronics OEMs. Its semiconductor devices are designed to enhance audio quality, battery life, and system integration in mobile phones, tablets, wireless headsets and other portable devices.

The company’s product portfolio includes digital-to-analog converters (DACs), analog-to-digital converters (ADCs), audio codecs, power management ICs, voice processors and integrated amplifiers.