Burney Co. Buys 142,430 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Burney Co. boosted its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 1,205.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 154,247 shares of the semiconductor company's stock after acquiring an additional 142,430 shares during the quarter. Burney Co. owned approximately 0.29% of Cirrus Logic worth $15,360,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Huntington National Bank lifted its position in shares of Cirrus Logic by 10,500.0% during the third quarter. Huntington National Bank now owns 212 shares of the semiconductor company's stock worth $26,000 after purchasing an additional 210 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in Cirrus Logic by 98.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company's stock worth $30,000 after buying an additional 120 shares in the last quarter. V Square Quantitative Management LLC bought a new position in Cirrus Logic in the 3rd quarter valued at $31,000. Westside Investment Management Inc. acquired a new stake in shares of Cirrus Logic in the 3rd quarter valued at $35,000. Finally, GAMMA Investing LLC raised its position in shares of Cirrus Logic by 81.2% during the third quarter. GAMMA Investing LLC now owns 859 shares of the semiconductor company's stock worth $107,000 after acquiring an additional 385 shares during the last quarter. Institutional investors and hedge funds own 87.96% of the company's stock.

Cirrus Logic Price Performance

CRUS stock traded up $0.57 during trading hours on Wednesday, reaching $101.91. 423,972 shares of the stock were exchanged, compared to its average volume of 633,919. The firm's 50-day moving average is $103.28 and its 200-day moving average is $119.78. Cirrus Logic, Inc. has a 12 month low of $75.92 and a 12 month high of $147.46. The company has a market cap of $5.42 billion, a price-to-earnings ratio of 17.27 and a beta of 0.93.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $541.90 million during the quarter, compared to the consensus estimate 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 company earned $1.43 earnings per share. As a group, equities research analysts forecast that Cirrus Logic, Inc. will post 5.21 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CRUS shares. Stifel Nicolaus decreased their price target on Cirrus Logic from $165.00 to $140.00 and set a "buy" rating on the stock in a report on Tuesday, November 5th. Barclays cut their price target on shares of Cirrus Logic from $120.00 to $105.00 and set an "equal weight" rating on the stock in a research report on Tuesday, November 5th. Loop Capital began coverage on shares of Cirrus Logic in a report on Tuesday, November 12th. They issued a "buy" rating and a $130.00 price target for the company. StockNews.com raised Cirrus Logic from a "hold" rating to a "buy" rating in a research note on Tuesday, December 3rd. Finally, Susquehanna boosted their target price on Cirrus Logic from $135.00 to $140.00 and gave the company a "positive" rating in a research note on Monday, November 18th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average 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.