Massachusetts Financial Services Co. MA Raises Stake in Cirrus Logic, Inc. (NASDAQ:CRUS)

Massachusetts Financial Services Co. MA increased its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 5.6% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 27,038 shares of the semiconductor company’s stock after purchasing an additional 1,445 shares during the period. Massachusetts Financial Services Co. MA owned 0.05% of Cirrus Logic worth $3,358,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Stonegate Investment Group LLC raised its holdings in shares of Cirrus Logic by 5.3% in the 3rd quarter. Stonegate Investment Group LLC now owns 1,776 shares of the semiconductor company’s stock valued at $221,000 after acquiring an additional 90 shares in the last quarter. Atria Investments Inc raised its holdings 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 acquiring an additional 101 shares in the last quarter. Profund Advisors LLC raised its holdings in shares of Cirrus Logic by 2.0% in the 2nd quarter. Profund Advisors LLC now owns 5,271 shares of the semiconductor company’s stock valued at $673,000 after acquiring an additional 103 shares in the last quarter. Arkadios Wealth Advisors raised its holdings in shares of Cirrus Logic by 2.8% in the 2nd quarter. Arkadios Wealth Advisors now owns 4,413 shares of the semiconductor company’s stock valued at $563,000 after acquiring an additional 119 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Cirrus Logic by 98.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on CRUS. Stifel Nicolaus lowered their price target on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. KeyCorp raised their price objective on Cirrus Logic from $155.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Susquehanna raised their price objective on Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a report on Monday, November 18th. StockNews.com cut Cirrus Logic from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, Barclays decreased their price objective on Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $132.50.

Cirrus Logic Price Performance

CRUS opened at $107.41 on Wednesday. The stock’s 50 day simple moving average is $115.34 and its 200 day simple moving average is $123.55. Cirrus Logic, Inc. has a 1 year low of $74.83 and a 1 year high of $147.46. The firm has a market cap of $5.71 billion, a price-to-earnings ratio of 18.21 and a beta of 0.96.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings results 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. Cirrus Logic had a return on equity of 18.15% and a net margin of 17.19%. The business had revenue of $541.90 million for the quarter, compared to analyst estimates of $520.53 million. During the same period last year, the company earned $1.43 EPS. Cirrus Logic’s revenue for the quarter was up 12.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cirrus Logic, Inc. will post 5.21 EPS 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.