Dynamic Technology Lab Private Ltd Purchases New Shares in Cirrus Logic, Inc. (NASDAQ:CRUS)

Dynamic Technology Lab Private Ltd bought a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 21,562 shares of the semiconductor company's stock, valued at approximately $2,678,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CRUS. Stonegate Investment Group LLC boosted its holdings in Cirrus Logic by 5.3% in the third quarter. Stonegate Investment Group LLC now owns 1,776 shares of the semiconductor company's stock valued at $221,000 after acquiring an additional 90 shares during the last quarter. Atria Investments Inc boosted its holdings in Cirrus Logic by 2.9% in the third quarter. Atria Investments Inc now owns 3,596 shares of the semiconductor company's stock valued at $447,000 after acquiring an additional 101 shares during the last quarter. Profund Advisors LLC boosted its holdings in Cirrus Logic by 2.0% in the second quarter. Profund Advisors LLC now owns 5,271 shares of the semiconductor company's stock valued at $673,000 after acquiring an additional 103 shares during the last quarter. Arkadios Wealth Advisors boosted its holdings in Cirrus Logic by 2.8% in the second quarter. Arkadios Wealth Advisors now owns 4,413 shares of the semiconductor company's stock valued at $563,000 after acquiring an additional 119 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings 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 last quarter. Hedge funds and other institutional investors own 87.96% of the company's stock.

Cirrus Logic Stock Up 3.9 %

CRUS stock traded up $4.08 during midday trading on Monday, reaching $108.90. The company had a trading volume of 349,269 shares, compared to its average volume of 517,404. The stock has a 50 day moving average price of $115.66 and a 200 day moving average price of $123.51. Cirrus Logic, Inc. has a fifty-two week low of $74.83 and a fifty-two week high of $147.46. The firm has a market capitalization of $5.79 billion, a PE ratio of 17.77 and a beta of 0.96.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $541.90 million during the quarter, compared to the consensus estimate of $520.53 million. During the same period in the previous year, the firm posted $1.43 earnings per share. The business's revenue was up 12.6% on a year-over-year basis. Research analysts predict that Cirrus Logic, Inc. will post 5.21 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Susquehanna raised their price objective on Cirrus Logic from $135.00 to $140.00 and gave the company a "positive" rating in a research report on Monday, November 18th. Stifel Nicolaus cut their price objective on Cirrus Logic from $165.00 to $140.00 and set a "buy" rating on the stock in a research report on Tuesday, November 5th. Loop Capital started coverage on Cirrus Logic in a research report on Tuesday, November 12th. They issued a "buy" rating and a $130.00 price objective on the stock. KeyCorp lifted their target price on Cirrus Logic from $155.00 to $165.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 7th. Finally, StockNews.com lowered Cirrus Logic from a "buy" rating to a "hold" rating in a research report on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus 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.