Diversified Trust Co Decreases Stake in Cirrus Logic, Inc. (NASDAQ:CRUS)

Diversified Trust Co reduced its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 5.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 8,825 shares of the semiconductor company’s stock after selling 485 shares during the period. Diversified Trust Co’s holdings in Cirrus Logic were worth $879,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in CRUS. Pacer Advisors Inc. boosted its position in shares of Cirrus Logic by 8,183.4% during the 2nd quarter. Pacer Advisors Inc. now owns 665,320 shares of the semiconductor company’s stock worth $84,935,000 after purchasing an additional 657,288 shares in the last quarter. FMR LLC boosted its position in shares of Cirrus Logic by 6.3% during the 3rd quarter. FMR LLC now owns 3,678,141 shares of the semiconductor company’s stock worth $456,862,000 after purchasing an additional 217,404 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec purchased a new stake in shares of Cirrus Logic during the 3rd quarter worth $16,340,000. Charles Schwab Investment Management Inc. boosted its position in shares of Cirrus Logic by 21.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 720,771 shares of the semiconductor company’s stock worth $89,527,000 after purchasing an additional 129,457 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Cirrus Logic by 32.6% during the 2nd quarter. AQR Capital Management LLC now owns 462,827 shares of the semiconductor company’s stock worth $59,084,000 after purchasing an additional 113,694 shares in the last quarter. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Cirrus Logic Stock Performance

Shares of CRUS stock opened at $105.20 on Friday. The firm has a 50-day moving average price of $103.70 and a 200 day moving average price of $120.39. Cirrus Logic, Inc. has a twelve month low of $75.92 and a twelve month high of $147.46. The company has a market capitalization of $5.59 billion, a price-to-earnings ratio of 17.83 and a beta of 0.92.

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

Analyst Ratings Changes

Several research firms have recently issued reports on CRUS. StockNews.com raised Cirrus Logic from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. Susquehanna lifted their price target on Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a research note on Monday, November 18th. Stifel Nicolaus cut their price target on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. 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 research note on Tuesday, November 5th. Finally, Loop Capital began coverage on Cirrus Logic in a research note on Tuesday, November 12th. They set a “buy” rating and a $130.00 price target for the company. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cirrus Logic currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.50.

Cirrus Logic Company 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.