Mutual of America Capital Management LLC Decreases Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Mutual of America Capital Management LLC lowered its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 6.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 28,868 shares of the semiconductor company’s stock after selling 2,014 shares during the period. Mutual of America Capital Management LLC’s holdings in Cirrus Logic were worth $3,586,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CRUS. Vanguard Group Inc. increased its holdings in Cirrus Logic by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 6,363,188 shares of the semiconductor company’s stock valued at $588,977,000 after acquiring an additional 128,393 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of Cirrus Logic by 52.1% in 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 last quarter. Susquehanna Fundamental Investments LLC increased its stake in shares of Cirrus Logic by 741.0% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 27,754 shares of the semiconductor company’s stock worth $3,543,000 after purchasing an additional 24,454 shares in the last quarter. Raymond James & Associates raised its position in shares of Cirrus Logic by 48.4% during the 3rd quarter. Raymond James & Associates now owns 33,459 shares of the semiconductor company’s stock worth $4,156,000 after purchasing an additional 10,919 shares during the last quarter. Finally, Sheaff Brock Investment Advisors LLC purchased a new stake in Cirrus Logic in the 3rd quarter valued at approximately $1,752,000. Institutional investors and hedge funds own 87.96% of the company’s stock.

Cirrus Logic Price Performance

Shares of CRUS stock opened at $104.82 on Friday. Cirrus Logic, Inc. has a 1-year low of $74.83 and a 1-year high of $147.46. The firm’s 50-day simple moving average is $116.23 and its 200-day simple moving average is $123.04. The firm has a market cap of $5.57 billion, a P/E ratio of 17.77 and a beta of 0.96.

Cirrus Logic (NASDAQ:CRUS) last posted 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. 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 last year, the firm posted $1.43 earnings per share. Cirrus Logic’s revenue was up 12.6% on a year-over-year basis. Analysts expect that Cirrus Logic, Inc. will post 5.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. KeyCorp raised their price target on Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Barclays cut their target price on shares of Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 5th. StockNews.com cut shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Stifel Nicolaus cut their price objective on shares of Cirrus Logic from $165.00 to $140.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Finally, Susquehanna raised their target price on shares of Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a research report on Monday, November 18th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.