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

Virtu Financial LLC purchased a new stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 7,578 shares of the semiconductor company’s stock, valued at approximately $941,000.

Several other institutional investors and hedge funds have also modified their holdings of CRUS. Charles Schwab Investment Management Inc. boosted its position in Cirrus Logic by 21.9% during the third 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. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Cirrus Logic by 52.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 961 shares of the semiconductor company’s stock valued at $123,000 after buying an additional 329 shares during the last quarter. Susquehanna Fundamental Investments LLC grew its stake in shares of Cirrus Logic by 741.0% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 27,754 shares of the semiconductor company’s stock valued at $3,543,000 after buying an additional 24,454 shares in the last quarter. Sheaff Brock Investment Advisors LLC acquired a new position in Cirrus Logic in the third quarter worth approximately $1,752,000. Finally, Raymond James & Associates increased its holdings in Cirrus Logic by 48.4% in the third quarter. Raymond James & Associates now owns 33,459 shares of the semiconductor company’s stock worth $4,156,000 after buying an additional 10,919 shares during the last quarter. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Cirrus Logic Stock Performance

Cirrus Logic stock opened at $106.71 on Friday. The business’s 50-day simple moving average is $110.76 and its 200-day simple moving average is $122.77. Cirrus Logic, Inc. has a 52 week low of $75.92 and a 52 week high of $147.46. The firm has a market capitalization of $5.67 billion, a PE ratio of 18.09 and a beta of 0.93.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly 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. The company had revenue of $541.90 million during the quarter, compared to analyst estimates of $520.53 million. Cirrus Logic had a return on equity of 18.15% and a net margin of 17.19%. The company’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.43 earnings per share. Research analysts forecast that Cirrus Logic, Inc. will post 5.21 earnings per share for the current year.

Analysts Set New Price Targets

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

About Cirrus Logic

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.