LMR Partners LLP Sells 150,000 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

LMR Partners LLP lowered its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 75.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 50,000 shares of the semiconductor company's stock after selling 150,000 shares during the quarter. LMR Partners LLP owned about 0.09% of Cirrus Logic worth $6,210,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Quest Partners LLC increased its holdings in Cirrus Logic by 67.4% during the 3rd quarter. Quest Partners LLC now owns 5,466 shares of the semiconductor company's stock worth $679,000 after purchasing an additional 2,201 shares in the last quarter. Natixis Advisors LLC raised its position in Cirrus Logic by 11.6% in the 3rd quarter. Natixis Advisors LLC now owns 101,506 shares of the semiconductor company's stock valued at $12,608,000 after buying an additional 10,579 shares during the last quarter. Sheaff Brock Investment Advisors LLC bought a new position in Cirrus Logic during the 3rd quarter valued at $1,752,000. Huntington National Bank grew its stake in shares of 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 acquiring an additional 210 shares in the last quarter. Finally, Parametrica Management Ltd purchased a new stake in shares of Cirrus Logic in the third quarter valued at about $231,000. Institutional investors own 87.96% of the company's stock.

Cirrus Logic Stock Performance

NASDAQ CRUS traded down $0.48 during trading on Tuesday, hitting $100.58. 554,264 shares of the company's stock traded hands, compared to its average volume of 517,352. The stock has a market capitalization of $5.34 billion, a price-to-earnings ratio of 17.13 and a beta of 0.96. The business has a 50 day moving average of $118.20 and a 200-day moving average of $123.26. Cirrus Logic, Inc. has a 12-month low of $74.80 and a 12-month high of $147.46.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The semiconductor company reported $2.25 EPS for the quarter, topping the consensus estimate of $2.02 by $0.23. Cirrus Logic had a net margin of 17.19% and a return on equity of 18.15%. The company had revenue of $541.90 million during the quarter, compared to the consensus estimate of $520.53 million. During the same period last year, the firm earned $1.43 EPS. Cirrus Logic's revenue for the quarter was up 12.6% on a year-over-year basis. On average, analysts expect that Cirrus Logic, Inc. will post 5.21 EPS for the current year.

Wall Street Analyst Weigh In

CRUS has been the subject of several analyst reports. Susquehanna increased 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. Barclays reduced their price objective on Cirrus Logic from $120.00 to $105.00 and set an "equal weight" rating for the company in a research note on Tuesday, November 5th. KeyCorp boosted their price target on shares of Cirrus Logic from $155.00 to $165.00 and gave the stock an "overweight" rating in a report on Wednesday, August 7th. Loop Capital initiated 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. Finally, Stifel Nicolaus dropped 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 investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Cirrus Logic has a consensus rating of "Moderate Buy" and an average price target of $132.50.

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.