Y Intercept Hong Kong Ltd Takes Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Y Intercept Hong Kong Ltd acquired a new stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 20,476 shares of the semiconductor company's stock, valued at approximately $2,543,000.

Other institutional investors have also recently made changes to their positions in the company. FMR LLC increased its position in shares of Cirrus Logic by 6.3% during the 3rd quarter. FMR LLC now owns 3,678,141 shares of the semiconductor company's stock valued at $456,862,000 after purchasing an additional 217,404 shares during the last quarter. LSV Asset Management lifted its holdings in shares of Cirrus Logic by 34.6% in the 2nd quarter. LSV Asset Management now owns 1,890,493 shares of the semiconductor company's stock worth $241,340,000 after acquiring an additional 486,086 shares during the last quarter. Earnest Partners LLC boosted its stake in shares of 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 purchasing an additional 39,759 shares during the period. Pacer Advisors Inc. grew its holdings 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 purchasing an additional 215,126 shares during the last quarter. Finally, Sei Investments Co. raised its position in Cirrus Logic by 8.6% in the 2nd quarter. Sei Investments Co. now owns 756,585 shares of the semiconductor company's stock worth $96,587,000 after purchasing an additional 59,690 shares during the period. Hedge funds and other institutional investors own 87.96% of the company's stock.

Wall Street Analyst Weigh In

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

Cirrus Logic Trading Up 0.3 %

Shares of NASDAQ:CRUS traded up $0.35 on Tuesday, hitting $105.66. 536,627 shares of the company were exchanged, compared to its average volume of 522,189. The firm has a market capitalization of $5.61 billion, a P/E ratio of 17.91 and a beta of 0.93. Cirrus Logic, Inc. has a 1-year low of $75.92 and a 1-year high of $147.46. The stock's 50 day moving average price is $111.55 and its 200 day moving average price is $123.06.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last announced 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. Cirrus Logic had a return on equity of 18.15% and a net margin of 17.19%. The firm had revenue of $541.90 million during the quarter, compared to analysts' expectations of $520.53 million. During the same period last year, the business posted $1.43 earnings per share. The company's revenue for the quarter was up 12.6% compared to the same quarter last year. On average, equities analysts predict that Cirrus Logic, Inc. will post 5.21 EPS for the current fiscal 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.