MML Investors Services LLC Boosts Stake in Cirrus Logic, Inc. (NASDAQ:CRUS)

MML Investors Services LLC increased its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 5.4% in the 3rd quarter, Holdings Channel reports. The fund owned 4,119 shares of the semiconductor company’s stock after buying an additional 212 shares during the quarter. MML Investors Services LLC’s holdings in Cirrus Logic were worth $512,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CRUS. FMR LLC boosted its holdings in shares of Cirrus Logic by 6.3% in 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. LSV Asset Management lifted its position in Cirrus Logic by 34.6% in the 2nd quarter. LSV Asset Management now owns 1,890,493 shares of the semiconductor company’s stock worth $241,340,000 after buying an additional 486,086 shares during the last quarter. Earnest Partners LLC boosted its stake in Cirrus Logic by 3.0% in the second quarter. Earnest Partners LLC now owns 1,358,140 shares of the semiconductor company’s stock worth $173,380,000 after buying an additional 39,759 shares in the last quarter. Pacer Advisors Inc. grew its position in Cirrus Logic by 32.3% during the third quarter. Pacer Advisors Inc. now owns 880,446 shares of the semiconductor company’s stock valued at $109,360,000 after acquiring an additional 215,126 shares during the last quarter. Finally, Sei Investments Co. raised its stake in shares of Cirrus Logic by 8.6% during the second quarter. Sei Investments Co. now owns 756,585 shares of the semiconductor company’s stock worth $96,587,000 after acquiring an additional 59,690 shares in the last quarter. Institutional investors own 87.96% of the company’s stock.

Analyst Upgrades and Downgrades

CRUS has been the subject of a number of research reports. Susquehanna upped their price objective on shares of Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a research note on Monday, November 18th. Barclays reduced their price objective on Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 5th. StockNews.com upgraded Cirrus Logic from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Stifel Nicolaus decreased their price target 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. 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 objective for the company. 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 presently has a consensus rating of “Moderate Buy” and an average price target of $132.50.

Cirrus Logic Stock Performance

NASDAQ CRUS opened at $100.56 on Monday. The stock has a market cap of $5.34 billion, a P/E ratio of 17.04 and a beta of 0.93. Cirrus Logic, Inc. has a fifty-two week low of $75.92 and a fifty-two week high of $147.46. The stock has a 50 day simple moving average of $109.04 and a two-hundred day simple moving average of $122.38.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings results on Monday, November 4th. The semiconductor company reported $2.25 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.23. The company had revenue of $541.90 million during the quarter, compared to analyst estimates 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 last year, the firm posted $1.43 earnings per share. Sell-side analysts predict that Cirrus Logic, Inc. will post 5.21 earnings per share for the current year.

About Cirrus Logic

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.