Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Sold by Algert Global LLC

Algert Global LLC reduced its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 38.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 94,315 shares of the semiconductor company’s stock after selling 58,143 shares during the quarter. Algert Global LLC’s holdings in Cirrus Logic were worth $11,715,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CRUS. Huntington National Bank boosted its stake 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 in the last quarter. Nisa Investment Advisors LLC raised its holdings in Cirrus Logic by 98.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 120 shares during the period. V Square Quantitative Management LLC purchased a new position in Cirrus Logic during the third quarter worth approximately $31,000. Versant Capital Management Inc grew its holdings in Cirrus Logic by 1,911.1% in the second quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company’s stock valued at $46,000 after purchasing an additional 344 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of Cirrus Logic by 79.5% in the second quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company’s stock valued at $61,000 after buying an additional 210 shares in the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Loop Capital began coverage on Cirrus Logic in a research report on Tuesday, November 12th. They set a “buy” rating and a $130.00 target price on the stock. Stifel Nicolaus cut 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. Susquehanna raised 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. KeyCorp boosted their price objective on Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Finally, StockNews.com downgraded Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Cirrus Logic currently has a consensus rating of “Moderate Buy” and an average target price of $132.50.

Cirrus Logic Trading Up 2.2 %

CRUS stock opened at $104.82 on Friday. The firm has a 50-day moving average of $116.23 and a two-hundred day moving average of $123.04. Cirrus Logic, Inc. has a 12 month low of $74.83 and a 12 month high of $147.46. The company has a market cap of $5.57 billion, a price-to-earnings ratio of 17.77 and a beta of 0.96.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings results on Monday, November 4th. The semiconductor company reported $2.25 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.23. Cirrus Logic had a net margin of 17.19% and a return on equity of 18.15%. The firm had revenue of $541.90 million for the quarter, compared to analysts’ expectations of $520.53 million. During the same quarter in the previous year, the company posted $1.43 EPS. The company’s revenue was up 12.6% compared to the same quarter last year. As a group, equities analysts forecast that Cirrus Logic, Inc. will post 5.21 earnings per share for the current year.

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.