Captrust Financial Advisors Purchases 142 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Captrust Financial Advisors lifted its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 5.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,838 shares of the semiconductor company’s stock after purchasing an additional 142 shares during the quarter. Captrust Financial Advisors’ holdings in Cirrus Logic were worth $353,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its stake in shares of Cirrus Logic by 18.5% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 4,104 shares of the semiconductor company’s stock valued at $524,000 after buying an additional 640 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Cirrus Logic by 0.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 161,933 shares of the semiconductor company’s stock worth $20,672,000 after acquiring an additional 1,452 shares during the last quarter. Blue Trust Inc. increased its stake in Cirrus Logic by 23.7% in the 2nd quarter. Blue Trust Inc. now owns 4,392 shares of the semiconductor company’s stock worth $561,000 after purchasing an additional 841 shares during the period. Raymond James & Associates lifted its position in Cirrus Logic by 67.4% in the second quarter. Raymond James & Associates now owns 22,540 shares of the semiconductor company’s stock valued at $2,877,000 after purchasing an additional 9,075 shares during the last quarter. Finally, Fifth Third Bancorp boosted its stake in shares of Cirrus Logic by 1.1% during the second quarter. Fifth Third Bancorp now owns 25,913 shares of the semiconductor company’s stock valued at $3,308,000 after purchasing an additional 289 shares during the period. 87.96% of the stock is currently owned by institutional investors.

Cirrus Logic Trading Up 0.3 %

Shares of Cirrus Logic stock opened at $106.71 on Friday. Cirrus Logic, Inc. has a 12 month low of $75.92 and a 12 month high of $147.46. The firm has a market capitalization of $5.67 billion, a P/E ratio of 18.09 and a beta of 0.93. The business has a fifty day simple moving average of $110.76 and a two-hundred day simple moving average of $122.77.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings results 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 net margin of 17.19% and a return on equity of 18.15%. The company had revenue of $541.90 million during the quarter, compared to analysts’ expectations of $520.53 million. During the same period last year, the company posted $1.43 EPS. Cirrus Logic’s revenue was up 12.6% on a year-over-year basis. Analysts predict that Cirrus Logic, Inc. will post 5.21 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. StockNews.com raised shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. Susquehanna increased their target price on shares of Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a report on Monday, November 18th. Loop Capital started coverage on Cirrus Logic in a research note on Tuesday, November 12th. They issued a “buy” rating and a $130.00 target price on the stock. Barclays lowered their price target on Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 5th. Finally, Stifel Nicolaus cut their price objective 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. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average 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.