Cerity Partners LLC Acquires 15,906 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Cerity Partners LLC lifted its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 401.4% during the third quarter, HoldingsChannel reports. The firm owned 19,869 shares of the semiconductor company’s stock after acquiring an additional 15,906 shares during the quarter. Cerity Partners LLC’s holdings in Cirrus Logic were worth $2,468,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Tidal Investments LLC acquired a new stake in Cirrus Logic during the 1st quarter worth approximately $219,000. Comerica Bank boosted its stake in shares of Cirrus Logic by 52.7% in the 1st quarter. Comerica Bank now owns 35,067 shares of the semiconductor company’s stock valued at $3,246,000 after purchasing an additional 12,101 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of Cirrus Logic by 139.7% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,994 shares of the semiconductor company’s stock valued at $182,000 after acquiring an additional 1,162 shares in the last quarter. GAMMA Investing LLC raised its holdings in Cirrus Logic by 79.5% in the 2nd quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company’s stock valued at $61,000 after buying an additional 210 shares during the last quarter. Finally, Versant Capital Management Inc increased its holdings in Cirrus Logic by 1,911.1% in the second quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company’s stock valued at $46,000 after purchasing an additional 344 shares during the period. Institutional investors and hedge funds own 87.96% of the company’s stock.

Cirrus Logic Stock Down 1.0 %

NASDAQ:CRUS opened at $104.45 on Monday. The business’s 50-day moving average price is $113.90 and its two-hundred day moving average price is $123.37. The stock has a market cap of $5.55 billion, a P/E ratio of 17.70 and a beta of 0.96. Cirrus Logic, Inc. has a twelve month low of $74.83 and a twelve month high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings data on Monday, November 4th. The semiconductor company reported $2.25 EPS for the quarter, beating the consensus estimate of $2.02 by $0.23. Cirrus Logic had a return on equity of 18.15% and a net margin of 17.19%. The firm had revenue of $541.90 million for the quarter, compared to analyst estimates of $520.53 million. During the same period in the prior year, the company earned $1.43 EPS. The company’s revenue was up 12.6% on a year-over-year basis. On average, equities research analysts expect that Cirrus Logic, Inc. will post 5.21 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CRUS. Stifel Nicolaus lowered their target price on shares of Cirrus Logic from $165.00 to $140.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. StockNews.com downgraded Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Susquehanna boosted their price target 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 began coverage on Cirrus Logic in a research note on Tuesday, November 12th. They set a “buy” rating and a $130.00 target price on the stock. Finally, KeyCorp increased their price target on Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.