Hancock Whitney Corp Invests $898,000 in Cirrus Logic, Inc. (NASDAQ:CRUS)

Hancock Whitney Corp bought a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,233 shares of the semiconductor company's stock, valued at approximately $898,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Huntington National Bank raised its stake in Cirrus Logic by 10,500.0% in the 3rd quarter. Huntington National Bank now owns 212 shares of the semiconductor company's stock valued at $26,000 after purchasing an additional 210 shares during 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 during the period. V Square Quantitative Management LLC acquired a new position in Cirrus Logic during the 3rd quarter worth approximately $31,000. Versant Capital Management Inc lifted its position in Cirrus Logic by 1,911.1% during the 2nd quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company's stock worth $46,000 after acquiring an additional 344 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Cirrus Logic by 79.5% in the 2nd quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company's stock valued at $61,000 after purchasing an additional 210 shares in the last quarter. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CRUS shares. KeyCorp raised their price objective on Cirrus Logic from $155.00 to $165.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 7th. Loop Capital began coverage on Cirrus Logic in a research note on Tuesday, November 12th. They issued a "buy" rating and a $130.00 target price on the stock. 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 report on Tuesday, November 5th. Susquehanna raised their price target on Cirrus Logic from $135.00 to $140.00 and gave the company a "positive" rating in a report on Monday, November 18th. Finally, StockNews.com lowered Cirrus Logic from a "buy" rating to a "hold" rating in a report on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $132.50.

Cirrus Logic Price Performance

Shares of CRUS traded down $1.89 on Wednesday, reaching $105.52. 357,816 shares of the stock traded hands, compared to its average volume of 519,230. The stock's 50-day moving average price is $115.01 and its 200-day moving average price is $123.56. The firm has a market cap of $5.61 billion, a price-to-earnings ratio of 17.92 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 posted its quarterly earnings data on Monday, November 4th. The semiconductor company reported $2.25 EPS for the quarter, topping analysts' consensus estimates of $2.02 by $0.23. The company had revenue of $541.90 million for 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 business's revenue was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.43 earnings per share. As a group, equities research analysts forecast that Cirrus Logic, Inc. will post 5.21 earnings per share for the current fiscal year.

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.