Sheaff Brock Investment Advisors LLC Buys New Shares in Cirrus Logic, Inc. (NASDAQ:CRUS)

Sheaff Brock Investment Advisors LLC acquired a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 14,109 shares of the semiconductor company's stock, valued at approximately $1,752,000.

Other large investors also recently added to or reduced their stakes in the company. Huntington National Bank raised its stake in shares of 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 during the last quarter. Nisa Investment Advisors LLC raised its position 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 valued at $30,000 after acquiring an additional 120 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Cirrus Logic in the 3rd quarter valued at $31,000. Versant Capital Management Inc boosted its position in shares of Cirrus Logic by 1,911.1% in the 2nd quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company's stock worth $46,000 after purchasing an additional 344 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Cirrus Logic by 79.5% during 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.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CRUS shares. StockNews.com lowered Cirrus Logic from a "buy" rating to a "hold" rating in a research note on Wednesday, November 6th. KeyCorp lifted their price objective on shares of Cirrus Logic from $155.00 to $165.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 7th. Barclays lowered 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 research note on Tuesday, November 5th. Susquehanna decreased their price target on shares of Cirrus Logic from $160.00 to $135.00 and set a "positive" rating for the company in a report on Tuesday, November 5th. Finally, Stifel Nicolaus dropped their price objective 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. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $131.67.

Cirrus Logic Stock Down 0.8 %

Shares of NASDAQ:CRUS traded down $0.83 during midday trading on Friday, reaching $100.67. 796,602 shares of the company were exchanged, compared to its average volume of 516,020. The firm has a market cap of $5.35 billion, a PE ratio of 17.20 and a beta of 0.96. Cirrus Logic, Inc. has a fifty-two week low of $74.80 and a fifty-two week high of $147.46. The stock has a fifty day simple moving average of $119.50 and a two-hundred day simple moving average of $122.57.

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 the consensus estimate of $2.02 by $0.23. The firm had revenue of $541.90 million for the quarter, compared to the consensus estimate of $520.53 million. Cirrus Logic had a return on equity of 18.15% and a net margin of 17.19%. The company's revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter last year, the business posted $1.43 EPS. As a group, analysts forecast that Cirrus Logic, Inc. will post 5.21 earnings per share for the current 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.