Pacer Advisors Inc. Grows Stock Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Pacer Advisors Inc. boosted its position in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 32.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 880,446 shares of the semiconductor company's stock after buying an additional 215,126 shares during the quarter. Pacer Advisors Inc. owned approximately 1.66% of Cirrus Logic worth $109,360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Huntington National Bank boosted its holdings in Cirrus Logic by 10,500.0% in the 3rd quarter. Huntington National Bank now owns 212 shares of the semiconductor company's stock worth $26,000 after buying an additional 210 shares during the period. Nisa Investment Advisors LLC boosted its stake in Cirrus Logic by 98.4% in 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 period. V Square Quantitative Management LLC bought a new position in Cirrus Logic in the 3rd quarter worth about $31,000. Versant Capital Management Inc increased its position in shares of Cirrus Logic by 1,911.1% during the second quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company's stock valued at $46,000 after buying an additional 344 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Cirrus Logic by 79.5% in the second quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company's stock worth $61,000 after buying an additional 210 shares in the last quarter. 87.96% of the stock is currently owned by institutional investors.

Cirrus Logic Stock Performance

Shares of NASDAQ:CRUS traded up $2.27 during trading on Friday, reaching $104.82. 568,635 shares of the stock traded hands, compared to its average volume of 518,145. The stock has a market cap of $5.57 billion, a P/E ratio of 17.77 and a beta of 0.96. Cirrus Logic, Inc. has a 52-week low of $74.83 and a 52-week high of $147.46. The stock has a 50-day moving average of $116.23 and a two-hundred day moving average of $123.04.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The semiconductor company reported $2.25 earnings per share for the quarter, topping 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 firm 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 earnings per share. The company's revenue was up 12.6% on a year-over-year basis. Sell-side analysts expect that Cirrus Logic, Inc. will post 5.21 earnings per share for the current year.

Analyst Ratings Changes

CRUS has been the subject of several recent analyst reports. KeyCorp boosted 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. Barclays reduced their target price on shares of Cirrus Logic from $120.00 to $105.00 and set an "equal weight" rating on the stock in a report on Tuesday, November 5th. Loop Capital initiated 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. Susquehanna boosted their price target on Cirrus Logic from $135.00 to $140.00 and gave the company a "positive" rating in a report on Monday. Finally, Stifel Nicolaus cut their target price on shares of Cirrus Logic from $165.00 to $140.00 and set a "buy" rating on the stock in a research note on Tuesday, November 5th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, Cirrus Logic presently has a consensus rating of "Moderate Buy" and an average price target of $132.50.

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.