US Bancorp DE Boosts Stake in Cirrus Logic, Inc. (NASDAQ:CRUS)

US Bancorp DE raised its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 36.1% during the third quarter, Holdings Channel reports. The firm owned 1,800 shares of the semiconductor company’s stock after buying an additional 477 shares during the quarter. US Bancorp DE’s holdings in Cirrus Logic were worth $224,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Cirrus Logic by 2.1% in the first quarter. Vanguard Group Inc. now owns 6,363,188 shares of the semiconductor company’s stock valued at $588,977,000 after purchasing an additional 128,393 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in shares of Cirrus Logic by 13.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 48,030 shares of the semiconductor company’s stock valued at $4,446,000 after buying an additional 5,645 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in shares of Cirrus Logic by 52.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 961 shares of the semiconductor company’s stock worth $123,000 after buying an additional 329 shares in the last quarter. Susquehanna Fundamental Investments LLC increased its stake in shares of Cirrus Logic by 741.0% during the second quarter. Susquehanna Fundamental Investments LLC now owns 27,754 shares of the semiconductor company’s stock worth $3,543,000 after buying an additional 24,454 shares during the period. Finally, Raymond James & Associates raised its holdings in Cirrus Logic by 48.4% in the third quarter. Raymond James & Associates now owns 33,459 shares of the semiconductor company’s stock valued at $4,156,000 after acquiring an additional 10,919 shares in the last quarter. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Cirrus Logic Stock Up 1.1 %

Shares of NASDAQ CRUS opened at $101.50 on Friday. The stock has a market cap of $5.39 billion, a PE ratio of 17.20 and a beta of 0.96. Cirrus Logic, Inc. has a 52-week low of $74.80 and a 52-week high of $147.46. The business has a 50-day moving average price of $119.50 and a 200 day moving average price of $122.57.

Cirrus Logic (NASDAQ:CRUS) last announced its earnings results on Monday, November 4th. The semiconductor company reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.23. The business had revenue of $541.90 million for the quarter, compared to analyst estimates of $520.53 million. Cirrus Logic had a net margin of 17.19% and a return on equity of 18.15%. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period last year, the firm posted $1.43 earnings per share. Sell-side analysts anticipate that Cirrus Logic, Inc. will post 5.21 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on CRUS shares. KeyCorp boosted their price target on shares of Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Loop Capital started coverage on shares of Cirrus Logic in a research note on Tuesday. They set a “buy” rating and a $130.00 target price for the company. StockNews.com cut Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Stifel Nicolaus decreased their price target on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Finally, Susquehanna dropped their price objective on Cirrus Logic from $160.00 to $135.00 and set a “positive” rating on the stock in a report on Tuesday, November 5th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $131.67.

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.