Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Sold by Stifel Financial Corp

Stifel Financial Corp reduced its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 2.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,384 shares of the semiconductor company’s stock after selling 825 shares during the period. Stifel Financial Corp’s holdings in Cirrus Logic were worth $4,147,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CRUS. Wealth Enhancement Advisory Services LLC grew its stake in Cirrus Logic by 18.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 4,104 shares of the semiconductor company’s stock valued at $524,000 after purchasing an additional 640 shares in the last quarter. Raymond James & Associates increased its stake in shares of Cirrus Logic by 67.4% in the second quarter. Raymond James & Associates now owns 22,540 shares of the semiconductor company’s stock worth $2,877,000 after buying an additional 9,075 shares during the last quarter. Fifth Third Bancorp raised its holdings in Cirrus Logic by 1.1% in the second quarter. Fifth Third Bancorp now owns 25,913 shares of the semiconductor company’s stock valued at $3,308,000 after acquiring an additional 289 shares in the last quarter. Fifth Third Wealth Advisors LLC bought a new stake in shares of Cirrus Logic in the 2nd quarter worth about $223,000. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of Cirrus Logic in the 2nd quarter valued at about $77,000. 87.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CRUS. Barclays decreased their price target on 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. Loop Capital assumed coverage on Cirrus Logic in a report on Tuesday, November 12th. They issued a “buy” rating and a $130.00 price target for the company. Stifel Nicolaus reduced their price objective on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Susquehanna lifted their price objective 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. Finally, StockNews.com raised shares of Cirrus Logic from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Cirrus Logic currently has an average rating of “Moderate Buy” and a consensus target price of $132.50.

Cirrus Logic Price Performance

Shares of CRUS opened at $106.71 on Monday. Cirrus Logic, Inc. has a 12 month low of $75.92 and a 12 month high of $147.46. The stock has a fifty day moving average price of $110.76 and a 200 day moving average price of $122.87. The company has a market cap of $5.67 billion, a P/E ratio of 18.09 and a beta of 0.93.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results on Monday, November 4th. The semiconductor company reported $2.25 EPS for the quarter, topping the consensus estimate of $2.02 by $0.23. Cirrus Logic had a net margin of 17.19% and a return on equity of 18.15%. The business had revenue of $541.90 million during the quarter, compared to analyst estimates of $520.53 million. During the same quarter in the prior year, the firm earned $1.43 earnings per share. The company’s quarterly revenue was up 12.6% on a year-over-year basis. As a group, research analysts anticipate that Cirrus Logic, Inc. will post 5.21 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.