Tidal Investments LLC Boosts Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Tidal Investments LLC raised its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 118.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,767 shares of the semiconductor company's stock after buying an additional 8,016 shares during the period. Tidal Investments LLC's holdings in Cirrus Logic were worth $1,834,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pacer Advisors Inc. raised its position in Cirrus Logic by 8,183.4% in the 2nd quarter. Pacer Advisors Inc. now owns 665,320 shares of the semiconductor company's stock valued at $84,935,000 after buying an additional 657,288 shares during the last quarter. LSV Asset Management boosted its holdings in Cirrus Logic by 34.6% during the second quarter. LSV Asset Management now owns 1,890,493 shares of the semiconductor company's stock worth $241,340,000 after purchasing an additional 486,086 shares during the last quarter. FMR LLC boosted 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 worth $456,862,000 after purchasing an additional 217,404 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec bought a new stake in Cirrus Logic in the 3rd quarter worth about $16,340,000. Finally, Charles Schwab Investment Management Inc. increased its stake 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 valued at $89,527,000 after buying an additional 129,457 shares during the last quarter. 87.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CRUS shares. Loop Capital started coverage on shares of Cirrus Logic in a report on Tuesday, November 12th. They set a "buy" rating and a $130.00 price objective for the company. Stifel Nicolaus cut their price target 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. Susquehanna lifted 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. 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 report on Tuesday, November 5th. Finally, StockNews.com upgraded shares of Cirrus Logic from a "hold" rating to a "buy" rating in a research report on Tuesday, December 3rd. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $132.50.

Cirrus Logic Stock Up 0.4 %

Shares of Cirrus Logic stock traded up $0.40 during trading on Wednesday, hitting $103.71. 33,264 shares of the stock traded hands, compared to its average volume of 521,447. Cirrus Logic, Inc. has a 52 week low of $75.92 and a 52 week high of $147.46. The firm's fifty day moving average is $110.22 and its 200-day moving average is $122.73. The stock has a market cap of $5.51 billion, a price-to-earnings ratio of 17.51 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, topping the consensus estimate of $2.02 by $0.23. The company had revenue of $541.90 million for 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%. Cirrus Logic's quarterly revenue was up 12.6% on a year-over-year basis. During the same period last year, the firm earned $1.43 earnings per share. On average, analysts forecast that Cirrus Logic, Inc. will post 5.21 earnings per share for the current fiscal year.

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.