Stifel Financial Corp Trims Stake in Cirrus Logic, Inc. (NASDAQ:CRUS)

Stifel Financial Corp decreased its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 2.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 33,384 shares of the semiconductor company’s stock after selling 825 shares during the period. Stifel Financial Corp owned 0.06% of Cirrus Logic worth $4,147,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CRUS. Huntington National Bank boosted its stake in shares of Cirrus Logic by 10,500.0% during the third quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 210 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Cirrus Logic by 98.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 120 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Cirrus Logic during the third quarter worth about $31,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Cirrus Logic during the second quarter worth about $77,000. Finally, GAMMA Investing LLC lifted its stake in shares of Cirrus Logic by 81.2% during the third quarter. GAMMA Investing LLC now owns 859 shares of the semiconductor company’s stock valued at $107,000 after buying an additional 385 shares during the period. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Cirrus Logic Trading Up 0.3 %

CRUS stock opened at $106.71 on Monday. The company has a market cap of $5.67 billion, a PE ratio of 18.09 and a beta of 0.93. The stock has a 50-day moving average price of $110.76 and a two-hundred day moving average price of $122.87. Cirrus Logic, Inc. has a 12-month low of $75.92 and a 12-month high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last issued 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. 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 during the quarter, compared to analysts’ expectations of $520.53 million. During the same quarter in the previous year, the business earned $1.43 EPS. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. Equities analysts forecast that Cirrus Logic, Inc. will post 5.21 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on CRUS shares. StockNews.com raised shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. Loop Capital assumed coverage on Cirrus Logic in a research report on Tuesday, November 12th. They issued a “buy” rating and a $130.00 price objective for the company. Stifel Nicolaus reduced their target price on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Susquehanna lifted their price target on Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a report on Monday, November 18th. Finally, Barclays dropped their price objective on shares of 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. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $132.50.

Cirrus Logic 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.