Intech Investment Management LLC Sells 4,239 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Intech Investment Management LLC lowered its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 32.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 8,950 shares of the semiconductor company’s stock after selling 4,239 shares during the quarter. Intech Investment Management LLC’s holdings in Cirrus Logic were worth $1,112,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Huntington National Bank lifted its stake in shares of Cirrus Logic by 10,500.0% during the 3rd quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 210 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in Cirrus Logic by 98.4% during 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 during the period. V Square Quantitative Management LLC purchased a new stake in shares of Cirrus Logic during the third quarter worth $31,000. Versant Capital Management Inc boosted its holdings in shares of Cirrus Logic by 1,911.1% in the second quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company’s stock worth $46,000 after acquiring an additional 344 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Cirrus Logic by 79.5% in the second quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company’s stock valued at $61,000 after purchasing an additional 210 shares in the last quarter. 87.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Barclays cut their target price on Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 5th. StockNews.com cut shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. KeyCorp increased their target price on shares of Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Susquehanna boosted their price target on shares of Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a research report on Monday, November 18th. Finally, Loop Capital started coverage on Cirrus Logic in a research report on Tuesday, November 12th. They issued a “buy” rating and a $130.00 price objective on the stock. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $132.50.

Cirrus Logic Price Performance

Shares of NASDAQ:CRUS opened at $105.52 on Thursday. The company’s fifty day moving average price is $115.01 and its 200-day moving average price is $123.56. The firm has a market capitalization of $5.61 billion, a price-to-earnings ratio of 17.92 and a beta of 0.96. Cirrus Logic, Inc. has a one year low of $74.83 and a one year high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last released its earnings results on Monday, November 4th. The semiconductor company reported $2.25 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $520.53 million. During the same quarter in the prior year, the firm earned $1.43 earnings per share. The firm’s revenue was up 12.6% on a year-over-year basis. As a group, equities research analysts expect 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.