FORA Capital LLC Takes $1.47 Million Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

FORA Capital LLC purchased a new position in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 11,819 shares of the semiconductor company's stock, valued at approximately $1,468,000.

A number of other large investors also recently modified their holdings of CRUS. Huntington National Bank grew its position in Cirrus Logic by 10,500.0% during the third quarter. Huntington National Bank now owns 212 shares of the semiconductor company's stock worth $26,000 after buying an additional 210 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Cirrus Logic by 98.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company's stock worth $30,000 after purchasing an additional 120 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in shares of Cirrus Logic during the third quarter valued at approximately $31,000. Versant Capital Management Inc raised its stake in shares of Cirrus Logic by 1,911.1% in the second quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company's stock valued at $46,000 after purchasing an additional 344 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Cirrus Logic by 79.5% in the second quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company's stock worth $61,000 after purchasing an additional 210 shares during the period. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Cirrus Logic Stock Down 1.8 %

CRUS traded down $1.89 during trading on Thursday, hitting $105.52. The company's stock had a trading volume of 407,526 shares, compared to its average volume of 519,230. The firm's 50 day moving average price is $114.66 and its two-hundred day moving average price is $123.43. The stock has a market capitalization of $5.61 billion, a price-to-earnings ratio of 17.88 and a beta of 0.96. Cirrus Logic, Inc. has a 12 month low of $74.83 and a 12 month high of $147.46.

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, beating analysts' consensus estimates 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 analysts' expectations of $520.53 million. During the same period in the previous year, the business posted $1.43 earnings per share. The firm's revenue for the quarter was up 12.6% compared to the same quarter last year. On average, sell-side analysts forecast that Cirrus Logic, Inc. will post 5.21 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CRUS. Stifel Nicolaus lowered their price target on shares of Cirrus Logic from $165.00 to $140.00 and set a "buy" rating on the stock in a report on Tuesday, November 5th. 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 research report on Monday, November 18th. Barclays decreased their price objective on Cirrus Logic from $120.00 to $105.00 and set an "equal weight" rating on the stock in a report on Tuesday, November 5th. Loop Capital began coverage on Cirrus Logic in a report on Tuesday, November 12th. They issued a "buy" rating and a $130.00 target price for the company. Finally, StockNews.com lowered Cirrus Logic from a "buy" rating to a "hold" rating in a research note on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price 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.