Cirrus Logic, Inc. (NASDAQ:CRUS) Position Boosted by Quantinno Capital Management LP

Quantinno Capital Management LP grew its stake in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 33.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 94,462 shares of the semiconductor company's stock after buying an additional 23,847 shares during the quarter. Quantinno Capital Management LP owned 0.18% of Cirrus Logic worth $11,733,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CRUS. Quarry LP raised its holdings in Cirrus Logic by 612.1% in the 3rd quarter. Quarry LP now owns 2,535 shares of the semiconductor company's stock worth $315,000 after purchasing an additional 2,179 shares during the period. Redwood Investment Management LLC raised its holdings in Cirrus Logic by 4.1% in the 3rd quarter. Redwood Investment Management LLC now owns 11,262 shares of the semiconductor company's stock worth $1,369,000 after purchasing an additional 444 shares during the period. Petrus Trust Company LTA acquired a new position in Cirrus Logic in the 3rd quarter worth about $606,000. Miura Global Management LLC acquired a new position in Cirrus Logic in the 3rd quarter worth about $621,000. Finally, Harber Asset Management LLC raised its holdings in Cirrus Logic by 4.0% in the 3rd quarter. Harber Asset Management LLC now owns 55,455 shares of the semiconductor company's stock worth $6,888,000 after purchasing an additional 2,142 shares during the period. Institutional investors and hedge funds own 87.96% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Stifel Nicolaus cut 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. KeyCorp boosted their price objective on Cirrus Logic from $155.00 to $165.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 7th. StockNews.com upgraded Cirrus Logic from a "hold" rating to a "buy" rating in a research note on Tuesday. Loop Capital assumed coverage on Cirrus Logic in a research note on Tuesday, November 12th. They set a "buy" rating and a $130.00 price objective for the company. Finally, Susquehanna boosted their price objective on Cirrus Logic from $135.00 to $140.00 and gave the stock a "positive" rating in a research note on Monday, November 18th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Cirrus Logic presently has a consensus rating of "Moderate Buy" and a consensus target price of $132.50.

Cirrus Logic Stock Performance

CRUS stock traded up $0.20 during trading on Thursday, reaching $103.90. 383,813 shares of the company were exchanged, compared to its average volume of 520,813. The company has a market cap of $5.52 billion, a P/E ratio of 17.58 and a beta of 0.93. Cirrus Logic, Inc. has a 52-week low of $75.92 and a 52-week high of $147.46. The stock's 50 day moving average price is $112.90 and its 200 day moving average price is $123.25.

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. The company had revenue of $541.90 million during the quarter, compared to analysts' expectations of $520.53 million. Cirrus Logic had a net margin of 17.19% and a return on equity of 18.15%. The firm's quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.43 earnings per share. As a group, equities research analysts forecast that Cirrus Logic, Inc. will post 5.21 EPS for the current 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.