Cirrus Logic, Inc. (NASDAQ:CRUS) Position Reduced by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 1.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 186,045 shares of the semiconductor company’s stock after selling 2,778 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Cirrus Logic were worth $23,109,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Stonegate Investment Group LLC lifted its stake in Cirrus Logic by 5.3% during the third quarter. Stonegate Investment Group LLC now owns 1,776 shares of the semiconductor company’s stock valued at $221,000 after buying an additional 90 shares in the last quarter. Atria Investments Inc increased 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 purchasing an additional 101 shares during the period. Profund Advisors LLC increased 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 purchasing an additional 103 shares during the period. Arkadios Wealth Advisors increased 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 purchasing an additional 119 shares during the period. Finally, Nisa Investment Advisors LLC increased 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 purchasing an additional 120 shares during the period. 87.96% of the stock is owned by hedge funds and other institutional investors.

Cirrus Logic Stock Up 0.3 %

Shares of CRUS stock opened at $103.96 on Friday. Cirrus Logic, Inc. has a 12 month low of $75.92 and a 12 month high of $147.46. The business’s 50 day moving average is $112.90 and its two-hundred day moving average is $123.25. The company has a market cap of $5.52 billion, a PE ratio of 17.62 and a beta of 0.93.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings results on Monday, November 4th. The semiconductor company reported $2.25 EPS for the quarter, beating 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 company had revenue of $541.90 million for the quarter, compared to the consensus estimate of $520.53 million. During the same quarter last year, the company posted $1.43 earnings per share. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. As a group, equities analysts expect that Cirrus Logic, Inc. will post 5.21 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Loop Capital assumed coverage on Cirrus Logic in a report on Tuesday, November 12th. They issued a “buy” rating and a $130.00 target price on the stock. Susquehanna upped their target price 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 upgraded Cirrus Logic from a “hold” rating to a “buy” rating in a report on Tuesday. Barclays dropped 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. Finally, Stifel Nicolaus dropped their price objective on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Cirrus Logic currently has an average rating of “Moderate Buy” and an average price target of $132.50.

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.