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Victory Capital Management Inc. Has $5.55 Million Stake in Cirrus Logic, Inc. (NASDAQ:CRUS)

Cirrus Logic logo with Computer and Technology background

Victory Capital Management Inc. boosted its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 165.6% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 44,681 shares of the semiconductor company's stock after purchasing an additional 27,856 shares during the period. Victory Capital Management Inc. owned about 0.08% of Cirrus Logic worth $5,550,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of CRUS. Nisa Investment Advisors LLC boosted its stake in shares of 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 acquiring an additional 120 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Cirrus Logic in the third quarter valued at $31,000. Versant Capital Management Inc lifted its holdings in shares of Cirrus Logic by 1,911.1% during the 2nd quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company's stock worth $46,000 after acquiring an additional 344 shares during the period. GAMMA Investing LLC lifted its stake in Cirrus Logic by 79.5% during the second quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company's stock worth $61,000 after purchasing an additional 210 shares during the period. Finally, 1620 Investment Advisors Inc. bought a new position in shares of Cirrus Logic during the 2nd quarter worth approximately $77,000. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CRUS shares. StockNews.com downgraded shares of Cirrus Logic from a "buy" rating to a "hold" rating in a report on Wednesday, November 6th. Barclays cut their price target on 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. Stifel Nicolaus dropped their price target on shares of 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 raised their price objective on shares of Cirrus Logic from $135.00 to $140.00 and gave the company a "positive" rating in a research note on Monday, November 18th. Finally, Loop Capital started coverage on shares of Cirrus Logic in a research report on Tuesday, November 12th. They set a "buy" rating and a $130.00 target price for the company. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $132.50.

View Our Latest Analysis on CRUS

Cirrus Logic Price Performance

Shares of Cirrus Logic stock traded up $2.27 during trading hours on Friday, hitting $104.82. The company's stock had a trading volume of 568,635 shares, compared to its average volume of 830,681. The company has a market capitalization of $5.57 billion, a PE ratio of 17.77 and a beta of 0.96. The stock has a 50 day moving average of $115.66 and a 200 day moving average of $123.36. Cirrus Logic, Inc. has a 12 month low of $74.83 and a 12 month high of $147.46.

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 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 business had revenue of $541.90 million during the quarter, compared to analysts' expectations of $520.53 million. During the same period in the prior year, the business earned $1.43 EPS. Cirrus Logic's revenue for the quarter was up 12.6% compared to the same quarter last year. Equities analysts expect that Cirrus Logic, Inc. will post 5.21 EPS for the current year.

Cirrus Logic Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Cirrus Logic (NASDAQ:CRUS)

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