Meeder Asset Management Inc. Sells 6,863 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Meeder Asset Management Inc. lowered its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 40.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,996 shares of the semiconductor company's stock after selling 6,863 shares during the period. Meeder Asset Management Inc.'s holdings in Cirrus Logic were worth $1,242,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CRUS. Huntington National Bank lifted its position in Cirrus Logic by 10,500.0% during 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. Nisa Investment Advisors LLC boosted its stake in Cirrus Logic by 98.4% in the third quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company's stock valued at $30,000 after acquiring an additional 120 shares during the period. V Square Quantitative Management LLC bought a new position in Cirrus Logic during the 3rd quarter worth $31,000. Versant Capital Management Inc increased its holdings in shares of Cirrus Logic by 1,911.1% in 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. Finally, GAMMA Investing LLC lifted its position in Cirrus Logic by 79.5% in the 2nd quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company's stock valued at $61,000 after purchasing an additional 210 shares during the last quarter. Hedge funds and other institutional investors own 87.96% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. KeyCorp raised their target price on Cirrus Logic from $155.00 to $165.00 and gave the company an "overweight" rating in a research report on Wednesday, August 7th. Susquehanna lifted their price target on shares of Cirrus Logic from $135.00 to $140.00 and gave the stock a "positive" rating in a research report on Monday. StockNews.com lowered Cirrus Logic from a "buy" rating to a "hold" rating in a research note on Wednesday, November 6th. Loop Capital initiated coverage on Cirrus Logic in a report on Tuesday, November 12th. They set a "buy" rating and a $130.00 price objective on the stock. Finally, Barclays reduced their target price on Cirrus Logic from $120.00 to $105.00 and set an "equal weight" rating for the company in a report on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $132.50.

Cirrus Logic Stock Performance

Shares of Cirrus Logic stock traded down $0.36 during midday trading on Wednesday, reaching $100.22. 696,208 shares of the company's stock traded hands, compared to its average volume of 518,147. Cirrus Logic, Inc. has a 52 week low of $74.80 and a 52 week high of $147.46. The company's 50 day simple moving average is $116.86 and its 200 day simple moving average is $123.18. The company has a market cap of $5.33 billion, a price-to-earnings ratio of 16.99 and a beta of 0.96.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last released its quarterly 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. Cirrus Logic had a return on equity of 18.15% and a net margin of 17.19%. The company had revenue of $541.90 million during the quarter, compared to the consensus estimate of $520.53 million. During the same quarter in the prior year, the company posted $1.43 EPS. The firm's revenue was up 12.6% on a year-over-year basis. As a group, equities research analysts predict that Cirrus Logic, Inc. will post 5.21 earnings per share for the current year.

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.