Cirrus Logic, Inc. (NASDAQ:CRUS) Position Boosted by Cerity Partners LLC

Cerity Partners LLC raised its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 401.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,869 shares of the semiconductor company's stock after purchasing an additional 15,906 shares during the quarter. Cerity Partners LLC's holdings in Cirrus Logic were worth $2,468,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the business. Pacer Advisors Inc. grew its holdings 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 valued at $84,935,000 after purchasing an additional 657,288 shares during the last quarter. LSV Asset Management boosted its holdings in Cirrus Logic by 34.6% in the second 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 during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Cirrus Logic by 21.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 720,771 shares of the semiconductor company's stock worth $89,527,000 after purchasing an additional 129,457 shares during the period. AQR Capital Management LLC increased its position in shares of 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 acquiring an additional 113,694 shares in the last quarter. Finally, Acadian Asset Management LLC increased its holdings in Cirrus Logic by 20.1% in the 2nd quarter. Acadian Asset Management LLC now owns 553,062 shares of the semiconductor company's stock valued at $70,583,000 after purchasing an additional 92,381 shares in the last quarter. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CRUS shares. Barclays dropped their price objective on shares of Cirrus Logic from $120.00 to $105.00 and set an "equal weight" rating on the stock in a research note on Tuesday, November 5th. KeyCorp lifted their target price on Cirrus Logic from $155.00 to $165.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 7th. Loop Capital assumed coverage on shares of Cirrus Logic in a report on Tuesday, November 12th. They issued a "buy" rating and a $130.00 target price on the stock. Stifel Nicolaus reduced their price target on shares of Cirrus Logic from $165.00 to $140.00 and set a "buy" rating for the company in a report on Tuesday, November 5th. Finally, Susquehanna increased their price objective on Cirrus Logic from $135.00 to $140.00 and gave the stock a "positive" rating in a report on Monday, November 18th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $132.50.

Cirrus Logic Stock Performance

Shares of NASDAQ:CRUS traded up $3.39 during trading hours on Monday, hitting $107.84. 671,661 shares of the company's stock traded hands, compared to its average volume of 519,293. The company's fifty day simple moving average is $113.90 and its two-hundred day simple moving average is $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 cap of $5.73 billion, a price-to-earnings ratio of 17.70 and a beta of 0.96.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last announced 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 company had revenue of $541.90 million for the quarter, compared to analyst estimates of $520.53 million. During the same period in the previous year, the firm earned $1.43 earnings per share. Cirrus Logic's revenue for the quarter was up 12.6% compared to the same quarter last year. On average, analysts anticipate that Cirrus Logic, Inc. will post 5.21 EPS for the current fiscal year.

About Cirrus Logic

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.