RHS Financial LLC Takes Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

RHS Financial LLC bought a new stake in Cirrus Logic, Inc. (NASDAQ:CRUS) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,264 shares of the semiconductor company’s stock, valued at approximately $225,000.

Other institutional investors also recently modified their holdings of the company. Bank of Montreal Can grew its holdings in Cirrus Logic by 3.2% during the second quarter. Bank of Montreal Can now owns 5,398 shares of the semiconductor company’s stock valued at $689,000 after purchasing an additional 166 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Cirrus Logic by 2.3% during the second quarter. The Manufacturers Life Insurance Company now owns 47,681 shares of the semiconductor company’s stock valued at $6,087,000 after purchasing an additional 1,053 shares during the period. Creative Planning grew its holdings in Cirrus Logic by 31.6% during the second quarter. Creative Planning now owns 7,518 shares of the semiconductor company’s stock valued at $960,000 after purchasing an additional 1,807 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in Cirrus Logic by 52.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 961 shares of the semiconductor company’s stock valued at $123,000 after purchasing an additional 329 shares during the period. Finally, Sanctuary Advisors LLC bought a new position in Cirrus Logic during the second quarter valued at $1,009,000. 87.96% of the stock is owned by institutional investors.

Cirrus Logic Trading Up 1.2 %

Shares of NASDAQ:CRUS opened at $100.44 on Friday. The stock’s 50-day moving average price is $102.75 and its 200-day moving average price is $117.06. Cirrus Logic, Inc. has a 12-month low of $75.92 and a 12-month high of $147.46. The stock has a market capitalization of $5.34 billion, a P/E ratio of 17.02 and a beta of 0.92.

Cirrus Logic (NASDAQ:CRUS) last posted its earnings results 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 for the quarter, compared to analysts’ expectations of $520.53 million. Cirrus Logic had a return on equity of 18.15% and a net margin of 17.19%. Cirrus Logic’s quarterly revenue was up 12.6% on a year-over-year basis. During the same period last year, the firm earned $1.43 earnings per share. As a group, research analysts predict that Cirrus Logic, Inc. will post 5.21 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Loop Capital assumed 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. StockNews.com upgraded Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Stifel Nicolaus dropped their target price on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Barclays dropped their target price on 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. Finally, Susquehanna increased their target price on Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a research report on Monday, November 18th. Two equities 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 an average rating of “Moderate Buy” and a consensus target price 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.