Nisa Investment Advisors LLC Boosts Stake in Cirrus Logic, Inc. (NASDAQ:CRUS)

Nisa Investment Advisors LLC lifted its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) by 98.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 242 shares of the semiconductor company’s stock after purchasing an additional 120 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Cirrus Logic were worth $30,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of CRUS. Inscription Capital LLC bought a new stake in shares of Cirrus Logic in the third quarter worth $268,000. Semanteon Capital Management LP bought a new stake in shares of Cirrus Logic in the third quarter worth $491,000. State of Alaska Department of Revenue grew its holdings in shares of Cirrus Logic by 0.8% in the third quarter. State of Alaska Department of Revenue now owns 55,872 shares of the semiconductor company’s stock worth $6,939,000 after acquiring an additional 420 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Cirrus Logic by 43.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,874 shares of the semiconductor company’s stock worth $730,000 after acquiring an additional 1,770 shares during the period. Finally, Arkadios Wealth Advisors grew its holdings in shares of Cirrus Logic by 43.6% in the third quarter. Arkadios Wealth Advisors now owns 6,336 shares of the semiconductor company’s stock worth $787,000 after acquiring an additional 1,923 shares during the period. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Insider Activity

In other news, VP Andrew Brannan sold 4,350 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $136.04, for a total transaction of $591,774.00. Following the transaction, the vice president now owns 4,004 shares of the company’s stock, valued at approximately $544,704.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.02% of the company’s stock.

Analyst Upgrades and Downgrades

CRUS has been the subject of several research analyst reports. Susquehanna cut their price target on Cirrus Logic from $160.00 to $135.00 and set a “positive” rating for the company in a report on Tuesday. KeyCorp boosted their price target on Cirrus Logic from $155.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Barclays cut their price target on Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating for the company in a report on Tuesday. StockNews.com lowered Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Stifel Nicolaus dropped their price objective on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating for the company in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $132.00.

Cirrus Logic Trading Up 0.2 %

NASDAQ:CRUS opened at $103.71 on Friday. Cirrus Logic, Inc. has a 12 month low of $69.23 and a 12 month high of $147.46. The business’s 50-day moving average is $122.47 and its 200 day moving average is $122.12. The company has a market capitalization of $5.54 billion, a P/E ratio of 17.58 and a beta of 0.96.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Monday, November 4th. The semiconductor company reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.23. Cirrus Logic had a return on equity of 18.42% and a net margin of 17.19%. The business had revenue of $541.90 million for the quarter, compared to the consensus estimate of $520.53 million. During the same period in the prior year, the business posted $1.43 earnings per share. The company’s quarterly revenue was up 12.6% compared to the same quarter last year. On average, research analysts forecast that Cirrus Logic, Inc. will post 5.37 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.