Cirrus Logic (CRUS) Received its Third Buy in a Row

After Needham and Stifel Nicolaus gave Cirrus Logic (NASDAQ: CRUS) a Buy rating last month, the company received another Buy, this time from Benchmark Co. Analyst David Williams maintained a Buy rating on Cirrus Logic today and set a price target of $95.00. The company’s shares closed last Wednesday at $82.09.

According to TipRanks.com, Williams is a 5-star analyst with an average return of 20.3% and a 63.5% success rate. Williams covers the Technology sector, focusing on stocks such as MACOM Technology Solutions Holdings, Lattice Semiconductor, and indie Semiconductor.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Cirrus Logic with a $105.83 average price target, representing a 28.8% upside. In a report released today, KeyBanc also maintained a Buy rating on the stock with a $105.00 price target.

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Based on Cirrus Logic’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $548 million and net profit of $128 million. In comparison, last year the company earned revenue of $486 million and had a net profit of $114 million.

Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CRUS in relation to earlier this year.

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Cirrus Logic, Inc. develops high-precision, analog and mixed-signal integrated circuits for a range of customers. It builds an analog and signal-processing patent portfolio. The firm delivers optimized products for a variety of audio, industrial and energy-related applications. Its product lines include portable audio products and non-portable audio and other products. The company was founded by Suhas S. Patil and Michael L. Hackworth in 1984 and is headquartered in Austin, TX.

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