Fmr LLC Has $456.86 Million Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

FMR LLC boosted its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 6.3% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,678,141 shares of the semiconductor company's stock after acquiring an additional 217,404 shares during the period. FMR LLC owned about 6.92% of Cirrus Logic worth $456,862,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. boosted its stake in Cirrus Logic by 52.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 961 shares of the semiconductor company's stock valued at $123,000 after purchasing an additional 329 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Cirrus Logic by 21.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 720,771 shares of the semiconductor company's stock valued at $89,527,000 after buying an additional 129,457 shares during the last quarter. Susquehanna Fundamental Investments LLC boosted its position in shares of Cirrus Logic by 741.0% during the second quarter. Susquehanna Fundamental Investments LLC now owns 27,754 shares of the semiconductor company's stock worth $3,543,000 after buying an additional 24,454 shares during the period. Sheaff Brock Investment Advisors LLC bought a new position in Cirrus Logic in the 3rd quarter worth approximately $1,752,000. Finally, Raymond James & Associates grew its holdings in Cirrus Logic by 48.4% in the 3rd quarter. Raymond James & Associates now owns 33,459 shares of the semiconductor company's stock worth $4,156,000 after buying an additional 10,919 shares in the last quarter. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Cirrus Logic Stock Performance

Shares of NASDAQ:CRUS traded down $1.07 during midday trading on Friday, reaching $104.45. The company had a trading volume of 373,956 shares, compared to its average volume of 518,601. The company has a fifty day simple moving average of $113.90 and a two-hundred day simple moving average of $123.28. The firm has a market cap of $5.55 billion, a price-to-earnings ratio of 17.70 and a beta of 0.96. Cirrus Logic, Inc. has a 1-year low of $74.83 and a 1-year high of $147.46.

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Loop Capital started coverage on Cirrus Logic in a research note on Tuesday, November 12th. They set a "buy" rating and a $130.00 target price on the stock. StockNews.com downgraded shares of Cirrus Logic from a "buy" rating to a "hold" rating in a report on Wednesday, November 6th. Stifel Nicolaus lowered 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. Susquehanna upped their price target 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. Finally, Barclays decreased their price objective on shares of 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 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 stock currently has an average 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.