Covestor Ltd Lowers Stock Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Covestor Ltd lessened its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 45.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 870 shares of the semiconductor company’s stock after selling 730 shares during the quarter. Covestor Ltd’s holdings in Cirrus Logic were worth $108,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Atria Investments Inc increased its stake in shares of Cirrus Logic by 2.9% in the 3rd quarter. Atria Investments Inc now owns 3,596 shares of the semiconductor company’s stock valued at $447,000 after purchasing an additional 101 shares in the last quarter. Hanseatic Management Services Inc. acquired a new position in shares of Cirrus Logic during the 3rd quarter worth approximately $863,000. TKG Advisors LLC purchased a new position in shares of Cirrus Logic during the 3rd quarter valued at approximately $4,386,000. Robeco Institutional Asset Management B.V. grew its stake in Cirrus Logic by 198.3% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 98,896 shares of the semiconductor company’s stock valued at $12,284,000 after acquiring an additional 65,739 shares during the period. Finally, Van ECK Associates Corp increased its holdings in Cirrus Logic by 51.9% in the 3rd quarter. Van ECK Associates Corp now owns 35,654 shares of the semiconductor company’s stock worth $4,247,000 after acquiring an additional 12,178 shares in the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on CRUS shares. Loop Capital assumed coverage on shares of Cirrus Logic in a research report on Tuesday. They issued a “buy” rating and a $130.00 target price on the stock. KeyCorp lifted their price objective on Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Barclays decreased their target price on Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 5th. StockNews.com lowered Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. 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 research note on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Cirrus Logic has an average rating of “Moderate Buy” and an average target price of $131.67.

Cirrus Logic Stock Down 0.0 %

Shares of NASDAQ:CRUS opened at $104.67 on Wednesday. Cirrus Logic, Inc. has a 52-week low of $71.60 and a 52-week high of $147.46. The business has a fifty day moving average of $121.00 and a two-hundred day moving average of $122.87. The stock has a market cap of $5.56 billion, a P/E ratio of 17.74 and a beta of 0.96.

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

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.