Geode Capital Management LLC Has $141.41 Million Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Geode Capital Management LLC increased its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 4.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,138,279 shares of the semiconductor company’s stock after buying an additional 50,582 shares during the period. Geode Capital Management LLC’s holdings in Cirrus Logic were worth $141,414,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CRUS. Wealth Enhancement Advisory Services LLC grew its position in shares of Cirrus Logic by 18.5% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 4,104 shares of the semiconductor company’s stock valued at $524,000 after purchasing an additional 640 shares during the last quarter. Raymond James & Associates boosted its position in shares of Cirrus Logic by 67.4% during the 2nd quarter. Raymond James & Associates now owns 22,540 shares of the semiconductor company’s stock valued at $2,877,000 after acquiring an additional 9,075 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of Cirrus Logic by 1.1% in the 2nd quarter. Fifth Third Bancorp now owns 25,913 shares of the semiconductor company’s stock valued at $3,308,000 after purchasing an additional 289 shares during the period. Fifth Third Wealth Advisors LLC acquired a new stake in Cirrus Logic in the 2nd quarter valued at about $223,000. Finally, 1620 Investment Advisors Inc. acquired a new position in Cirrus Logic during the 2nd quarter worth $77,000. 87.96% of the stock is currently owned by institutional investors.

Cirrus Logic Price Performance

Shares of CRUS opened at $105.63 on Tuesday. Cirrus Logic, Inc. has a one year low of $75.92 and a one year high of $147.46. The company has a market cap of $5.61 billion, a PE ratio of 17.90 and a beta of 0.93. The firm has a 50-day moving average of $110.53 and a 200-day moving average of $122.81.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings data 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 firm had revenue of $541.90 million during the quarter, compared to analysts’ expectations of $520.53 million. During the same period in the previous 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. Analysts expect that Cirrus Logic, Inc. will post 5.21 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.