Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Purchased by Verition Fund Management LLC

Verition Fund Management LLC boosted its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 1,225.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 21,333 shares of the semiconductor company's stock after purchasing an additional 19,723 shares during the quarter. Verition Fund Management LLC's holdings in Cirrus Logic were worth $2,650,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Pacer Advisors Inc. grew its holdings in Cirrus Logic by 8,183.4% during the 2nd quarter. Pacer Advisors Inc. now owns 665,320 shares of the semiconductor company's stock valued at $84,935,000 after buying an additional 657,288 shares during the last quarter. LSV Asset Management boosted its stake in shares of Cirrus Logic by 34.6% during the second quarter. LSV Asset Management now owns 1,890,493 shares of the semiconductor company's stock valued at $241,340,000 after acquiring an additional 486,086 shares during the last quarter. FMR LLC increased its position in Cirrus Logic by 6.3% during the 3rd 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 in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Cirrus Logic by 21.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 720,771 shares of the semiconductor company's stock valued at $89,527,000 after purchasing an additional 129,457 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in Cirrus Logic by 32.6% in the 2nd quarter. AQR Capital Management LLC now owns 462,827 shares of the semiconductor company's stock valued at $59,084,000 after purchasing an additional 113,694 shares in the last quarter. Institutional investors and hedge funds own 87.96% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on CRUS shares. Barclays lowered 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 report on Tuesday, November 5th. Susquehanna increased their price target on Cirrus Logic from $135.00 to $140.00 and gave the stock a "positive" rating in a research note on Monday, November 18th. KeyCorp raised their price objective on Cirrus Logic from $155.00 to $165.00 and gave the stock an "overweight" rating in a report on Wednesday, August 7th. Loop Capital began coverage on Cirrus Logic in a research report on Tuesday, November 12th. They set a "buy" rating and a $130.00 target price on the stock. Finally, StockNews.com raised Cirrus Logic from a "hold" rating to a "buy" rating in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $132.50.

Cirrus Logic Stock Performance

Shares of NASDAQ:CRUS traded up $0.66 during mid-day trading on Thursday, hitting $104.36. 487,189 shares of the company traded hands, compared to its average volume of 521,170. The firm has a market cap of $5.55 billion, a P/E ratio of 17.58 and a beta of 0.93. Cirrus Logic, Inc. has a 52-week low of $75.92 and a 52-week high of $147.46. The firm's 50 day simple moving average is $112.90 and its 200 day simple moving average is $123.25.

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