Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Purchased by Ritholtz Wealth Management

Ritholtz Wealth Management raised its holdings in Cirrus Logic, Inc. (NASDAQ:CRUSFree Report) by 4.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 3,925 shares of the semiconductor company’s stock after purchasing an additional 153 shares during the period. Ritholtz Wealth Management’s holdings in Cirrus Logic were worth $391,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC grew its stake in shares of Cirrus Logic by 6.3% in the third quarter. FMR LLC now owns 3,678,141 shares of the semiconductor company’s stock valued at $456,862,000 after buying an additional 217,404 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Cirrus Logic by 32.3% during the third quarter. Pacer Advisors Inc. now owns 880,446 shares of the semiconductor company’s stock worth $109,360,000 after purchasing an additional 215,126 shares in the last quarter. Burney Co. boosted its stake in shares of Cirrus Logic by 1,205.3% in the fourth quarter. Burney Co. now owns 154,247 shares of the semiconductor company’s stock valued at $15,360,000 after purchasing an additional 142,430 shares during the period. Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of Cirrus Logic in the third quarter valued at approximately $16,340,000. Finally, Charles Schwab Investment Management Inc. increased its stake in 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 buying an additional 129,457 shares during the period. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Cirrus Logic Stock Performance

Shares of NASDAQ:CRUS opened at $100.25 on Wednesday. Cirrus Logic, Inc. has a 1 year low of $75.92 and a 1 year high of $147.46. The stock has a 50-day simple moving average of $102.96 and a 200-day simple moving average of $118.80. The stock has a market capitalization of $5.33 billion, a P/E ratio of 16.99 and a beta of 0.92.

Cirrus Logic (NASDAQ:CRUSGet Free Report) last issued its earnings results on Monday, November 4th. The semiconductor company reported $2.25 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.23. The company had revenue of $541.90 million during the quarter, compared to the consensus estimate of $520.53 million. Cirrus Logic had a return on equity of 18.15% and a net margin of 17.19%. The company’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.43 earnings per share. Analysts predict that Cirrus Logic, Inc. will post 5.21 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Barclays lowered their price objective 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. Susquehanna upped their price target on shares of Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a research note on Monday, November 18th. StockNews.com upgraded shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Loop Capital assumed coverage on Cirrus Logic in a research note on Tuesday, November 12th. They set a “buy” rating and a $130.00 price target on the stock. Finally, Stifel Nicolaus reduced their price objective on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating for the company in a 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 company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $132.50.

Read Our Latest Stock Report on CRUS

Cirrus Logic Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Cirrus Logic (NASDAQ:CRUS)

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