Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC raised its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 4.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,138,279 shares of the semiconductor company's stock after buying an additional 50,582 shares during the period. Geode Capital Management LLC owned about 2.14% of Cirrus Logic worth $141,414,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Vestcor Inc raised its holdings in Cirrus Logic by 56.6% during the third quarter. Vestcor Inc now owns 10,242 shares of the semiconductor company's stock worth $1,272,000 after purchasing an additional 3,702 shares in the last quarter. M&T Bank Corp grew its position in shares of Cirrus Logic by 22.1% in the 3rd quarter. M&T Bank Corp now owns 2,074 shares of the semiconductor company's stock valued at $258,000 after buying an additional 376 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Cirrus Logic in the third quarter valued at $2,543,000. MML Investors Services LLC lifted its position in Cirrus Logic by 5.4% in the third quarter. MML Investors Services LLC now owns 4,119 shares of the semiconductor company's stock valued at $512,000 after acquiring an additional 212 shares during the last quarter. Finally, National Bank of Canada FI acquired a new position in Cirrus Logic in the third quarter valued at $186,000. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Cirrus Logic Price Performance

Shares of CRUS stock traded down $2.32 during trading hours on Tuesday, reaching $103.31. 704,051 shares of the company's stock were exchanged, compared to its average volume of 523,549. The company's 50 day moving average is $110.22 and its two-hundred day moving average is $122.73. The company has a market cap of $5.49 billion, a P/E ratio of 17.51 and a beta of 0.93. Cirrus Logic, Inc. has a 1 year low of $75.92 and a 1 year high of $147.46.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last released 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. The firm had revenue of $541.90 million during the quarter, compared to analysts' expectations of $520.53 million. Cirrus Logic had a return on equity of 18.15% and a net margin of 17.19%. Cirrus Logic's revenue was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.43 earnings per share. As a group, analysts predict that Cirrus Logic, Inc. will post 5.21 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CRUS has been the topic of a number of research reports. Loop Capital assumed coverage on Cirrus Logic in a research note on Tuesday, November 12th. They set a "buy" rating and a $130.00 price target on the stock. Susquehanna lifted their target price on shares of Cirrus Logic from $135.00 to $140.00 and gave the company a "positive" rating in a report on Monday, November 18th. StockNews.com upgraded shares of Cirrus Logic from a "hold" rating to a "buy" rating in a research report on Tuesday, December 3rd. Stifel Nicolaus lowered their price objective on shares of Cirrus Logic from $165.00 to $140.00 and set a "buy" rating on the stock in a research report on Tuesday, November 5th. Finally, Barclays reduced their target price 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. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Cirrus Logic presently has an average rating of "Moderate Buy" and a consensus target price of $132.50.

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.