Harvest Fund Management Co. Ltd Has $313,000 Stock Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Harvest Fund Management Co. Ltd lessened its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 78.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,525 shares of the semiconductor company's stock after selling 9,440 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in Cirrus Logic were worth $313,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CRUS. Dynamic Technology Lab Private Ltd acquired a new position in Cirrus Logic in the third quarter valued at approximately $2,678,000. Daiwa Securities Group Inc. acquired a new stake in shares of Cirrus Logic during the third quarter worth $286,000. Alpha DNA Investment Management LLC acquired a new stake in shares of Cirrus Logic during the third quarter worth $412,000. Cerity Partners LLC increased its holdings in Cirrus Logic by 401.4% in the third quarter. Cerity Partners LLC now owns 19,869 shares of the semiconductor company's stock valued at $2,468,000 after purchasing an additional 15,906 shares during the last quarter. Finally, Meridian Wealth Management LLC acquired a new position in Cirrus Logic in the third quarter valued at about $264,000. Institutional investors own 87.96% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Barclays lowered their price target on Cirrus Logic from $120.00 to $105.00 and set an "equal weight" rating for the company in a research note on Tuesday, November 5th. Loop Capital began coverage on shares of Cirrus Logic in a research note on Tuesday, November 12th. They issued a "buy" rating and a $130.00 target price for the company. StockNews.com lowered shares of Cirrus Logic from a "buy" rating to a "hold" rating in a report on Wednesday, November 6th. Stifel Nicolaus decreased their price target on shares of Cirrus Logic from $165.00 to $140.00 and set a "buy" rating for the company in a report on Tuesday, November 5th. Finally, Susquehanna upped their price objective on shares of Cirrus Logic from $135.00 to $140.00 and gave the company a "positive" rating in a research report on Monday, November 18th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Cirrus Logic currently has a consensus rating of "Moderate Buy" and a consensus target price of $132.50.

Cirrus Logic Trading Down 1.8 %

Shares of NASDAQ CRUS traded down $1.89 during midday trading on Wednesday, reaching $105.52. The company's stock had a trading volume of 407,526 shares, compared to its average volume of 518,955. The stock has a 50 day simple moving average of $115.01 and a 200-day simple moving average of $123.56. The stock has a market capitalization of $5.61 billion, a price-to-earnings ratio of 17.92 and a beta of 0.96. Cirrus Logic, Inc. has a fifty-two week low of $74.83 and a fifty-two week high of $147.46.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The semiconductor company reported $2.25 EPS for the quarter, topping the consensus estimate of $2.02 by $0.23. The firm had revenue of $541.90 million for the quarter, compared to analysts' expectations of $520.53 million. Cirrus Logic had a net margin of 17.19% and a return on equity of 18.15%. The company's revenue for the quarter was up 12.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.43 EPS. As a group, equities analysts anticipate that Cirrus Logic, Inc. will post 5.21 EPS for the current year.

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.