Virtu Financial LLC Invests $941,000 in Cirrus Logic, Inc. (NASDAQ:CRUS)

Virtu Financial LLC acquired a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,578 shares of the semiconductor company's stock, valued at approximately $941,000.

Several other hedge funds also recently modified their holdings of the stock. Huntington National Bank boosted its position in Cirrus Logic by 10,500.0% during the third quarter. Huntington National Bank now owns 212 shares of the semiconductor company's stock valued at $26,000 after purchasing an additional 210 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Cirrus Logic by 98.4% in 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 during the last quarter. V Square Quantitative Management LLC bought a new position in shares of Cirrus Logic in the third quarter valued at $31,000. 1620 Investment Advisors Inc. acquired a new position in Cirrus Logic during the second quarter worth $77,000. Finally, GAMMA Investing LLC raised its position in Cirrus Logic by 81.2% during the third quarter. GAMMA Investing LLC now owns 859 shares of the semiconductor company's stock worth $107,000 after acquiring an additional 385 shares in the last quarter. Institutional investors own 87.96% of the company's stock.

Cirrus Logic Stock Performance

NASDAQ:CRUS traded up $0.27 during mid-day trading on Friday, hitting $106.71. 567,041 shares of the stock were exchanged, compared to its average volume of 522,708. The firm's 50-day simple moving average is $110.76 and its 200 day simple moving average is $122.77. The stock has a market capitalization of $5.67 billion, a price-to-earnings ratio of 18.09 and a beta of 0.93. Cirrus Logic, Inc. has a fifty-two week low of $75.92 and a fifty-two week high of $147.46.

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CRUS shares. Stifel Nicolaus lowered their price objective on shares of Cirrus Logic from $165.00 to $140.00 and set a "buy" rating on the stock in a research note on Tuesday, November 5th. StockNews.com raised Cirrus Logic from a "hold" rating to a "buy" rating in a research report on Tuesday, December 3rd. Susquehanna upped their price objective on Cirrus Logic from $135.00 to $140.00 and gave the company a "positive" rating in a research note on Monday, November 18th. Loop Capital assumed coverage on Cirrus Logic in a research note on Tuesday, November 12th. They set a "buy" rating and a $130.00 target price for the company. Finally, Barclays dropped their price target on Cirrus Logic from $120.00 to $105.00 and set an "equal weight" rating on the stock in a research note on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Cirrus Logic has an average rating of "Moderate Buy" and a consensus target price of $132.50.

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.