EP Wealth Advisors LLC Acquires New Shares in Cirrus Logic, Inc. (NASDAQ:CRUS)

EP Wealth Advisors LLC bought a new position in Cirrus Logic, Inc. (NASDAQ:CRUS) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,954 shares of the semiconductor company’s stock, valued at approximately $243,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Huntington National Bank increased its holdings in Cirrus Logic by 10,500.0% in the third quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock worth $26,000 after buying an additional 210 shares during the last quarter. Nisa Investment Advisors LLC grew its position in Cirrus Logic by 98.4% in the third quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 120 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Cirrus Logic during the 3rd quarter worth $31,000. 1620 Investment Advisors Inc. bought a new position in shares of Cirrus Logic during the 2nd quarter valued at $77,000. Finally, GAMMA Investing LLC lifted its stake in shares of Cirrus Logic by 81.2% in the 3rd quarter. GAMMA Investing LLC now owns 859 shares of the semiconductor company’s stock valued at $107,000 after purchasing an additional 385 shares during the last quarter. 87.96% of the stock is owned by hedge funds and other institutional investors.

Cirrus Logic Trading Up 0.3 %

Shares of Cirrus Logic stock opened at $106.71 on Friday. Cirrus Logic, Inc. has a 1 year low of $75.92 and a 1 year high of $147.46. The company’s fifty day simple moving average is $110.76 and its 200-day simple moving average is $122.77. The company has a market cap of $5.67 billion, a price-to-earnings ratio of 18.09 and a beta of 0.93.

Cirrus Logic (NASDAQ:CRUS) last posted 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. Cirrus Logic had a net margin of 17.19% and a return on equity of 18.15%. The company had revenue of $541.90 million for the quarter, compared to the consensus estimate of $520.53 million. During the same quarter in the previous year, the firm posted $1.43 EPS. The business’s revenue was up 12.6% compared to the same quarter last year. As a group, research analysts forecast that Cirrus Logic, Inc. will post 5.21 earnings per share for the current fiscal year.

Analyst Ratings Changes

CRUS has been the topic of several analyst reports. Barclays lowered their target price on shares of Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 5th. Susquehanna boosted their target price on Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a report on Monday, November 18th. StockNews.com raised Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Stifel Nicolaus dropped 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. Finally, Loop Capital began coverage on shares of Cirrus Logic in a report on Tuesday, November 12th. They set a “buy” rating and a $130.00 price objective for the company. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.50.

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.