Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Bought by Redwood Investment Management LLC

Redwood Investment Management LLC lifted its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 4.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,262 shares of the semiconductor company’s stock after purchasing an additional 444 shares during the quarter. Redwood Investment Management LLC’s holdings in Cirrus Logic were worth $1,369,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of CRUS. Petrus Trust Company LTA purchased a new stake in Cirrus Logic in the 3rd quarter valued at approximately $606,000. Miura Global Management LLC purchased a new stake in shares of Cirrus Logic in the third quarter valued at approximately $621,000. Harber Asset Management LLC grew its holdings in Cirrus Logic by 4.0% during the third quarter. Harber Asset Management LLC now owns 55,455 shares of the semiconductor company’s stock worth $6,888,000 after acquiring an additional 2,142 shares during the period. Concentric Capital Strategies LP purchased a new position in Cirrus Logic in the third quarter worth $3,225,000. Finally, Paloma Partners Management Co grew its stake in shares of Cirrus Logic by 6.5% during the 3rd quarter. Paloma Partners Management Co now owns 4,258 shares of the semiconductor company’s stock worth $529,000 after purchasing an additional 258 shares during the period. 87.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on CRUS. Loop Capital initiated 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 for the company. StockNews.com upgraded shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Tuesday. Stifel Nicolaus lowered their price target on shares of Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Susquehanna lifted their price objective on Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a research report on Monday, November 18th. Finally, Barclays lowered their target price on Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $132.50.

Cirrus Logic Trading Up 0.5 %

Shares of CRUS opened at $104.44 on Friday. Cirrus Logic, Inc. has a twelve month low of $75.92 and a twelve month high of $147.46. The firm has a market capitalization of $5.55 billion, a P/E ratio of 17.70 and a beta of 0.93. The stock’s fifty day simple moving average is $112.20 and its 200 day simple moving average is $123.06.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings data on Monday, November 4th. The semiconductor company reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.23. The company had revenue of $541.90 million during the quarter, compared to analyst estimates of $520.53 million. Cirrus Logic had a net margin of 17.19% and a return on equity of 18.15%. The business’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.43 earnings per share. Sell-side analysts predict that Cirrus Logic, Inc. will post 5.21 earnings per share for the current year.

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.