Caisse DE Depot ET Placement DU Quebec Acquires New Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Caisse DE Depot ET Placement DU Quebec purchased a new stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 131,553 shares of the semiconductor company's stock, valued at approximately $16,340,000. Caisse DE Depot ET Placement DU Quebec owned 0.25% of Cirrus Logic as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Pacer Advisors Inc. grew its position in Cirrus Logic by 8,183.4% in the second quarter. Pacer Advisors Inc. now owns 665,320 shares of the semiconductor company's stock worth $84,935,000 after acquiring an additional 657,288 shares in the last quarter. LSV Asset Management increased its position in shares of Cirrus Logic by 34.6% during the 2nd quarter. LSV Asset Management now owns 1,890,493 shares of the semiconductor company's stock valued at $241,340,000 after purchasing an additional 486,086 shares during the last quarter. FMR LLC raised its holdings in shares of Cirrus Logic by 6.3% during the 3rd 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. Charles Schwab Investment Management Inc. lifted its position in Cirrus Logic by 21.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 720,771 shares of the semiconductor company's stock worth $89,527,000 after buying an additional 129,457 shares during the last quarter. Finally, AQR Capital Management LLC boosted its stake in Cirrus Logic by 32.6% in the second quarter. AQR Capital Management LLC now owns 462,827 shares of the semiconductor company's stock worth $59,084,000 after buying an additional 113,694 shares in the last quarter. Hedge funds and other institutional investors own 87.96% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CRUS. Susquehanna boosted their price objective on shares of Cirrus Logic from $135.00 to $140.00 and gave the stock 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 research note on Wednesday, November 6th. KeyCorp boosted their target price on Cirrus Logic from $155.00 to $165.00 and gave the company an "overweight" rating in a research note on Wednesday, August 7th. Loop Capital started coverage on Cirrus Logic in a research report on Tuesday, November 12th. They set a "buy" rating and a $130.00 price target on the stock. Finally, Stifel Nicolaus dropped their price objective on Cirrus Logic from $165.00 to $140.00 and set a "buy" rating for the company in a research note on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $132.50.

Cirrus Logic Price Performance

NASDAQ:CRUS traded up $3.39 during trading hours on Monday, hitting $107.84. The company had a trading volume of 671,661 shares, compared to its average volume of 519,293. The stock has a 50-day moving average price of $113.90 and a 200 day moving average price of $123.45. Cirrus Logic, Inc. has a 52 week low of $75.57 and a 52 week high of $147.46. The company has a market capitalization of $5.73 billion, a PE ratio of 17.70 and a beta of 0.96.

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