Raymond James & Associates Has $4.16 Million Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Raymond James & Associates grew its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) by 48.4% during the third quarter, Holdings Channel.com reports. The firm owned 33,459 shares of the semiconductor company’s stock after acquiring an additional 10,919 shares during the quarter. Raymond James & Associates’ holdings in Cirrus Logic were worth $4,156,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Blue Trust Inc. raised its holdings in shares of Cirrus Logic by 24.1% in the third quarter. Blue Trust Inc. now owns 5,449 shares of the semiconductor company’s stock valued at $696,000 after purchasing an additional 1,057 shares during the last quarter. Aaron Wealth Advisors LLC bought a new position in shares of Cirrus Logic in the third quarter valued at $205,000. Stonegate Investment Group LLC grew its stake in shares of Cirrus Logic by 5.3% in the third quarter. Stonegate Investment Group LLC now owns 1,776 shares of the semiconductor company’s stock valued at $221,000 after buying an additional 90 shares in the last quarter. V Square Quantitative Management LLC bought a new position in shares of Cirrus Logic in the third quarter valued at $31,000. Finally, Cardinal Capital Management grew its stake in shares of Cirrus Logic by 5.4% in the third quarter. Cardinal Capital Management now owns 21,366 shares of the semiconductor company’s stock valued at $2,654,000 after buying an additional 1,087 shares in the last quarter. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CRUS. StockNews.com cut shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. KeyCorp raised their target price on shares of Cirrus Logic from $155.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Stifel Nicolaus raised their target price on shares of Cirrus Logic from $110.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Susquehanna decreased their target price on shares of Cirrus Logic from $175.00 to $160.00 and set a “positive” rating for the company in a research note on Monday, October 21st. Finally, Barclays cut shares of Cirrus Logic from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $140.00 to $120.00 in a research note on Thursday, October 10th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Cirrus Logic has an average rating of “Moderate Buy” and a consensus price target of $145.00.

Insider Activity

In other news, SVP Justin E. Dougherty sold 10,203 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $131.71, for a total value of $1,343,837.13. Following the completion of the sale, the senior vice president now owns 4,838 shares of the company’s stock, valued at approximately $637,212.98. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, VP Andrew Brannan sold 4,350 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $136.04, for a total value of $591,774.00. Following the completion of the sale, the vice president now owns 4,004 shares of the company’s stock, valued at approximately $544,704.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Justin E. Dougherty sold 10,203 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $131.71, for a total value of $1,343,837.13. Following the completion of the transaction, the senior vice president now directly owns 4,838 shares of the company’s stock, valued at approximately $637,212.98. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.02% of the stock is currently owned by company insiders.

Cirrus Logic Price Performance

CRUS stock opened at $110.30 on Friday. The company has a fifty day moving average price of $126.31 and a two-hundred day moving average price of $121.39. Cirrus Logic, Inc. has a one year low of $65.08 and a one year high of $147.46. The stock has a market cap of $5.89 billion, a price-to-earnings ratio of 20.39 and a beta of 0.96.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings data on Tuesday, August 6th. The semiconductor company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.50. The firm had revenue of $374.03 million during the quarter, compared to analysts’ expectations of $318.41 million. Cirrus Logic had a net margin of 16.31% and a return on equity of 17.42%. The company’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.35 earnings per share. Research analysts anticipate that Cirrus Logic, Inc. will post 5.37 EPS for the current fiscal 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.