Blue Trust Inc. Increases Stock Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Blue Trust Inc. grew its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) by 19.3% during the 4th quarter, Holdings Channel reports. The firm owned 6,499 shares of the semiconductor company’s stock after buying an additional 1,050 shares during the period. Blue Trust Inc.’s holdings in Cirrus Logic were worth $647,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CRUS. FMR LLC lifted its holdings in Cirrus Logic by 6.3% in the 3rd quarter. FMR LLC now owns 3,678,141 shares of the semiconductor company’s stock valued at $456,862,000 after purchasing an additional 217,404 shares in the last quarter. Pacer Advisors Inc. lifted its stake in shares of Cirrus Logic by 32.3% during the third quarter. Pacer Advisors Inc. now owns 880,446 shares of the semiconductor company’s stock valued at $109,360,000 after buying an additional 215,126 shares during the period. Burney Co. boosted its position in Cirrus Logic by 1,205.3% during the fourth quarter. Burney Co. now owns 154,247 shares of the semiconductor company’s stock worth $15,360,000 after acquiring an additional 142,430 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec purchased a new stake in Cirrus Logic in the 3rd quarter worth approximately $16,340,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Cirrus Logic by 21.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 720,771 shares of the semiconductor company’s stock valued at $89,527,000 after acquiring an additional 129,457 shares during the last quarter. 87.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Stifel Nicolaus decreased their price objective 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 initiated coverage on Cirrus Logic in a report on Tuesday, November 12th. They issued a “buy” rating and a $130.00 price target for the company. Barclays cut their price objective on shares of Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 5th. StockNews.com upgraded shares of Cirrus Logic from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Finally, Susquehanna increased their price target on shares of Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a research note on Monday, November 18th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cirrus Logic has a consensus rating of “Moderate Buy” and an average target price of $132.50.

Cirrus Logic Stock Up 1.2 %

CRUS opened at $99.29 on Friday. Cirrus Logic, Inc. has a 52-week low of $75.92 and a 52-week high of $147.46. The company has a 50 day moving average of $102.83 and a two-hundred day moving average of $117.33. The company has a market cap of $5.28 billion, a P/E ratio of 16.83 and a beta of 0.92.

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, topping analysts’ consensus estimates of $2.02 by $0.23. The firm had revenue of $541.90 million during the quarter, compared to analysts’ expectations of $520.53 million. Cirrus Logic had a net margin of 17.19% and a return on equity of 18.15%. The firm’s revenue was up 12.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.43 EPS. Research analysts anticipate that Cirrus Logic, Inc. will post 5.21 earnings per share for the current year.

Cirrus Logic 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.