Crossmark Global Holdings Inc. Raises Stake in Cirrus Logic, Inc. (NASDAQ:CRUS)

Crossmark Global Holdings Inc. lifted its stake in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 52.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,695 shares of the semiconductor company's stock after acquiring an additional 16,393 shares during the period. Crossmark Global Holdings Inc. owned approximately 0.09% of Cirrus Logic worth $4,749,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Alhambra Investment Management LLC purchased a new stake in Cirrus Logic in the 4th quarter worth approximately $200,000. Arkadios Wealth Advisors raised its position in shares of Cirrus Logic by 36.2% in the fourth quarter. Arkadios Wealth Advisors now owns 8,628 shares of the semiconductor company's stock worth $859,000 after buying an additional 2,292 shares in the last quarter. Ritholtz Wealth Management increased its position in shares of Cirrus Logic by 4.1% in the fourth quarter. Ritholtz Wealth Management now owns 3,925 shares of the semiconductor company's stock worth $391,000 after purchasing an additional 153 shares during the last quarter. Burney Co. raised its stake in Cirrus Logic by 1,205.3% in the fourth quarter. Burney Co. now owns 154,247 shares of the semiconductor company's stock valued at $15,360,000 after purchasing an additional 142,430 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Cirrus Logic by 30.4% in the third quarter. JPMorgan Chase & Co. now owns 296,357 shares of the semiconductor company's stock valued at $36,811,000 after purchasing an additional 69,006 shares in the last quarter. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Susquehanna increased their price target on shares of Cirrus Logic from $135.00 to $140.00 and gave the stock a "positive" rating in a report on Monday, November 18th. Barclays lowered their price target on Cirrus Logic from $120.00 to $105.00 and set an "equal weight" rating on the stock in a research report on Tuesday, November 5th. StockNews.com upgraded Cirrus Logic from a "hold" rating to a "buy" rating in a report on Tuesday, December 3rd. Loop Capital assumed coverage on Cirrus Logic in a research report on Tuesday, November 12th. They issued a "buy" rating and a $130.00 target price for the company. Finally, Stifel Nicolaus cut their target price 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. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Cirrus Logic currently has an average rating of "Moderate Buy" and a consensus price target of $132.50.

Cirrus Logic Trading Up 0.8 %

CRUS stock traded up $0.78 during midday trading on Thursday, hitting $101.08. The company had a trading volume of 561,651 shares, compared to its average volume of 604,375. Cirrus Logic, Inc. has a 52 week low of $75.92 and a 52 week high of $147.46. The stock has a market cap of $5.37 billion, a price-to-earnings ratio of 17.13 and a beta of 0.92. The stock's 50 day moving average price is $102.95 and its 200 day moving average price is $118.55.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The semiconductor company reported $2.25 earnings per share for the quarter, beating the consensus estimate 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 firm's revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.43 EPS. Analysts predict that Cirrus Logic, Inc. will post 5.21 earnings per share for the current year.

Cirrus Logic 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.