Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its position in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 30.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 296,357 shares of the semiconductor company's stock after buying an additional 69,006 shares during the period. JPMorgan Chase & Co. owned approximately 0.56% of Cirrus Logic worth $36,811,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of CRUS. FMR LLC grew its holdings in Cirrus Logic by 6.3% in the third quarter. FMR LLC now owns 3,678,141 shares of the semiconductor company's stock worth $456,862,000 after purchasing an additional 217,404 shares during the last quarter. Earnest Partners LLC grew its stake in Cirrus Logic by 3.0% during the 2nd quarter. Earnest Partners LLC now owns 1,358,140 shares of the semiconductor company's stock worth $173,380,000 after buying an additional 39,759 shares during the last quarter. Geode Capital Management LLC increased its position in Cirrus Logic by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,138,279 shares of the semiconductor company's stock valued at $141,414,000 after buying an additional 50,582 shares in the last quarter. Pacer Advisors Inc. increased its position in Cirrus Logic by 32.3% during the 3rd quarter. Pacer Advisors Inc. now owns 880,446 shares of the semiconductor company's stock valued at $109,360,000 after buying an additional 215,126 shares in the last quarter. Finally, Sei Investments Co. raised its stake in Cirrus Logic by 8.6% in the second quarter. Sei Investments Co. now owns 756,585 shares of the semiconductor company's stock valued at $96,587,000 after buying an additional 59,690 shares during the last quarter. Institutional investors own 87.96% of the company's stock.

Cirrus Logic Stock Performance

NASDAQ CRUS traded up $2.72 on Tuesday, reaching $105.20. 808,464 shares of the company's stock traded hands, compared to its average volume of 699,913. Cirrus Logic, Inc. has a fifty-two week low of $75.92 and a fifty-two week high of $147.46. The firm has a market cap of $5.59 billion, a price-to-earnings ratio of 17.83 and a beta of 0.92. The stock has a 50 day moving average price of $103.98 and a 200-day moving average price of $120.61.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The semiconductor company reported $2.25 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $520.53 million. During the same quarter in the prior year, the firm posted $1.43 EPS. The business's quarterly revenue was up 12.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Cirrus Logic, Inc. will post 5.21 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CRUS shares. Stifel Nicolaus dropped their price target on 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 company a "positive" rating in a research note on Monday, November 18th. StockNews.com raised shares of Cirrus Logic from a "hold" rating to a "buy" rating in a report on Tuesday, December 3rd. Barclays dropped their price objective on shares of Cirrus Logic from $120.00 to $105.00 and set an "equal weight" rating on the stock in a report on Tuesday, November 5th. Finally, Loop Capital initiated coverage on Cirrus Logic in a research note on Tuesday, November 12th. They issued a "buy" rating and a $130.00 target price for the company. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Cirrus Logic currently has an average rating of "Moderate Buy" and an average price target of $132.50.

About Cirrus Logic

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.