Citigroup Inc. Grows Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Citigroup Inc. increased its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 137.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,650 shares of the semiconductor company's stock after acquiring an additional 18,877 shares during the period. Citigroup Inc. owned about 0.06% of Cirrus Logic worth $4,055,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Tidal Investments LLC acquired a new stake in Cirrus Logic in the 1st quarter valued at $219,000. Comerica Bank raised its position in shares of Cirrus Logic by 52.7% in the 1st quarter. Comerica Bank now owns 35,067 shares of the semiconductor company's stock valued at $3,246,000 after buying an additional 12,101 shares in the last quarter. DekaBank Deutsche Girozentrale raised its position in shares of Cirrus Logic by 139.7% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,994 shares of the semiconductor company's stock valued at $182,000 after buying an additional 1,162 shares in the last quarter. GAMMA Investing LLC raised its position in shares of 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 buying an additional 210 shares in the last quarter. Finally, CWM LLC increased its position in Cirrus Logic by 75.1% during the 2nd quarter. CWM LLC now owns 3,640 shares of the semiconductor company's stock worth $465,000 after purchasing an additional 1,561 shares in the last quarter. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Cirrus Logic Price Performance

CRUS stock traded down $1.90 during midday trading on Wednesday, reaching $103.70. The company had a trading volume of 585,526 shares, compared to its average volume of 521,493. Cirrus Logic, Inc. has a 1 year low of $75.80 and a 1 year high of $147.46. The company has a market capitalization of $5.51 billion, a P/E ratio of 17.90 and a beta of 0.93. The firm has a 50-day moving average price of $113.22 and a 200-day moving average price of $123.39.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The semiconductor company reported $2.25 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 analysts' expectations of $520.53 million. Cirrus Logic had a net margin of 17.19% and a return on equity of 18.15%. The business's quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.43 EPS. On average, equities analysts predict that Cirrus Logic, Inc. will post 5.21 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. KeyCorp upped their price target on shares of Cirrus Logic from $155.00 to $165.00 and gave the company an "overweight" rating in a research report on Wednesday, August 7th. Susquehanna increased their target price on shares of Cirrus Logic from $135.00 to $140.00 and gave the stock a "positive" rating in a research note on Monday, November 18th. Stifel Nicolaus cut 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. Loop Capital started coverage on shares of Cirrus Logic in a research note on Tuesday, November 12th. They set a "buy" rating and a $130.00 target price on the stock. Finally, StockNews.com upgraded shares of Cirrus Logic from a "hold" rating to a "buy" rating in a report on Tuesday. 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, the company currently has a consensus rating of "Moderate Buy" and a consensus 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.