Van ECK Associates Corp Raises Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Van ECK Associates Corp lifted its position in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 51.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 35,654 shares of the semiconductor company's stock after buying an additional 12,178 shares during the period. Van ECK Associates Corp owned about 0.07% of Cirrus Logic worth $4,247,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CRUS. Stonegate Investment Group LLC increased its holdings in Cirrus Logic by 5.3% during the third quarter. Stonegate Investment Group LLC now owns 1,776 shares of the semiconductor company's stock valued at $221,000 after buying an additional 90 shares during the last quarter. Profund Advisors LLC boosted its stake in Cirrus Logic by 2.0% during the second quarter. Profund Advisors LLC now owns 5,271 shares of the semiconductor company's stock valued at $673,000 after buying an additional 103 shares during the last quarter. Arkadios Wealth Advisors grew its holdings in shares of Cirrus Logic by 2.8% in the second quarter. Arkadios Wealth Advisors now owns 4,413 shares of the semiconductor company's stock valued at $563,000 after purchasing an additional 119 shares in 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 buying an additional 120 shares in the last quarter. Finally, Oak Associates Ltd. OH lifted its stake in shares of Cirrus Logic by 0.4% in the 2nd quarter. Oak Associates Ltd. OH now owns 34,176 shares of the semiconductor company's stock valued at $4,363,000 after purchasing an additional 134 shares during the last quarter. Institutional investors own 87.96% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. KeyCorp boosted their price objective on Cirrus Logic from $155.00 to $165.00 and gave the company an "overweight" rating in a report on Wednesday, August 7th. 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 research note on Tuesday. StockNews.com downgraded Cirrus Logic from a "buy" rating to a "hold" rating in a report on Wednesday. Susquehanna lowered their target price on Cirrus Logic from $160.00 to $135.00 and set a "positive" rating for the company in a report on Tuesday. Finally, Barclays reduced their price target on shares of Cirrus Logic from $120.00 to $105.00 and set an "equal weight" rating for the company in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, Cirrus Logic has a consensus rating of "Moderate Buy" and a consensus price target of $132.00.

Cirrus Logic Price Performance

NASDAQ CRUS traded up $0.16 during trading hours on Friday, hitting $103.71. 624,917 shares of the company's stock traded hands, compared to its average volume of 748,838. The firm's 50-day moving average is $122.47 and its 200-day moving average is $122.12. Cirrus Logic, Inc. has a 52-week low of $69.23 and a 52-week high of $147.46. The company has a market capitalization of $5.51 billion, a PE ratio of 17.58 and a beta of 0.96.

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 net margin of 17.19% and a return on equity of 18.15%. Cirrus Logic's revenue was up 12.6% compared to the same quarter last year. During the same period last year, the business earned $1.43 earnings per share. Equities research analysts predict that Cirrus Logic, Inc. will post 5.37 earnings per share for the current fiscal year.

Insider Buying and Selling at Cirrus Logic

In related news, VP Andrew Brannan sold 4,350 shares of the business's stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $136.04, for a total value of $591,774.00. Following the sale, the vice president now directly owns 4,004 shares in the company, valued at approximately $544,704.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.02% of the company's stock.

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.