BNP Paribas Financial Markets Sells 28,094 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

BNP Paribas Financial Markets lowered its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 34.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,255 shares of the semiconductor company's stock after selling 28,094 shares during the quarter. BNP Paribas Financial Markets owned about 0.10% of Cirrus Logic worth $6,739,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of CRUS. FMR LLC raised its holdings in Cirrus Logic by 6.3% during the third quarter. FMR LLC now owns 3,678,141 shares of the semiconductor company's stock valued at $456,862,000 after buying an additional 217,404 shares in the last quarter. LSV Asset Management raised its stake in shares of Cirrus Logic by 34.6% in the 2nd quarter. LSV Asset Management now owns 1,890,493 shares of the semiconductor company's stock valued at $241,340,000 after acquiring an additional 486,086 shares in the last quarter. Earnest Partners LLC lifted its holdings in Cirrus Logic by 3.0% in the 2nd quarter. Earnest Partners LLC now owns 1,358,140 shares of the semiconductor company's stock worth $173,380,000 after purchasing an additional 39,759 shares during the last quarter. Pacer Advisors Inc. boosted its position in Cirrus Logic by 32.3% during the third quarter. Pacer Advisors Inc. now owns 880,446 shares of the semiconductor company's stock worth $109,360,000 after purchasing an additional 215,126 shares during the period. Finally, Sei Investments Co. grew its holdings in Cirrus Logic by 8.6% during the second quarter. Sei Investments Co. now owns 756,585 shares of the semiconductor company's stock valued at $96,587,000 after purchasing an additional 59,690 shares during the last quarter. Institutional investors and hedge funds own 87.96% of the company's stock.

Analyst Ratings Changes

CRUS has been the subject of several recent analyst reports. KeyCorp upped their price objective 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. Stifel Nicolaus cut their price objective on Cirrus Logic from $165.00 to $140.00 and set a "buy" rating for the company in a research report on Tuesday, November 5th. Susquehanna boosted their target price on shares of Cirrus Logic from $135.00 to $140.00 and gave the stock a "positive" rating in a research report on Monday, November 18th. Loop Capital began coverage on shares of Cirrus Logic in a research note on Tuesday, November 12th. They set a "buy" rating and a $130.00 target price for the company. Finally, StockNews.com downgraded shares of Cirrus Logic from a "buy" rating to a "hold" rating in a report on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Cirrus Logic has a consensus rating of "Moderate Buy" and an average target price of $132.50.

Cirrus Logic Trading Down 2.1 %

Shares of CRUS stock traded down $2.31 on Tuesday, hitting $105.53. The stock had a trading volume of 532,556 shares, compared to its average volume of 519,313. Cirrus Logic, Inc. has a twelve month low of $75.57 and a twelve month high of $147.46. The company has a fifty day moving average price of $113.57 and a two-hundred day moving average price of $123.42. The firm has a market cap of $5.61 billion, a P/E ratio of 18.03 and a beta of 0.93.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last posted its earnings results on Monday, November 4th. The semiconductor company reported $2.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.02 by $0.23. The firm had revenue of $541.90 million during the quarter, compared to analysts' expectations of $520.53 million. Cirrus Logic had a return on equity of 18.15% and a net margin of 17.19%. The company's revenue was up 12.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.43 earnings per share. On average, analysts expect that Cirrus Logic, Inc. will post 5.21 earnings per share 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.