Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Sold by LMR Partners LLP

LMR Partners LLP cut its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 75.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,000 shares of the semiconductor company’s stock after selling 150,000 shares during the period. LMR Partners LLP owned 0.09% of Cirrus Logic worth $6,210,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in CRUS. Huntington National Bank raised its stake in Cirrus Logic by 10,500.0% in the 3rd quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 210 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in Cirrus Logic by 98.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock worth $30,000 after buying an additional 120 shares during the period. V Square Quantitative Management LLC purchased a new position in Cirrus Logic during the 3rd quarter worth approximately $31,000. Versant Capital Management Inc lifted its position in Cirrus Logic by 1,911.1% during the second quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company’s stock valued at $46,000 after purchasing an additional 344 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of Cirrus Logic by 79.5% during the 2nd quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company’s stock valued at $61,000 after buying an additional 210 shares during the last quarter. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on CRUS shares. Loop Capital assumed coverage on Cirrus Logic in a report on Tuesday, November 12th. They set a “buy” rating and a $130.00 target price on the stock. Susquehanna upped their target price on Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a research note on Monday. Barclays cut 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. StockNews.com downgraded Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, Stifel Nicolaus lowered their price target 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. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Cirrus Logic presently has an average rating of “Moderate Buy” and an average price target of $132.50.

Cirrus Logic Stock Up 0.4 %

Shares of CRUS opened at $101.06 on Tuesday. The stock has a fifty day simple moving average of $118.20 and a two-hundred day simple moving average of $123.26. The company has a market capitalization of $5.37 billion, a PE ratio of 17.13 and a beta of 0.96. Cirrus Logic, Inc. has a 52-week low of $74.80 and a 52-week high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings results on Monday, November 4th. The semiconductor company reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.23. The business had revenue of $541.90 million during the quarter, compared to the consensus estimate of $520.53 million. Cirrus Logic had a net margin of 17.19% and a return on equity of 18.15%. The business’s revenue was up 12.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.43 EPS. As a group, equities analysts anticipate that Cirrus Logic, Inc. will post 5.21 earnings per share 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.