Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Bought by Burney Co.

Burney Co. boosted its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 1,205.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 154,247 shares of the semiconductor company’s stock after purchasing an additional 142,430 shares during the period. Burney Co. owned approximately 0.29% of Cirrus Logic worth $15,360,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of CRUS. Huntington National Bank lifted its position in Cirrus Logic by 10,500.0% during 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 period. Nisa Investment Advisors LLC raised its stake in shares of Cirrus Logic by 98.4% in the third quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 120 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Cirrus Logic during the third quarter worth about $31,000. Westside Investment Management Inc. acquired a new stake in shares of Cirrus Logic during the third quarter worth about $35,000. Finally, GAMMA Investing LLC boosted its position in Cirrus Logic by 81.2% in the third quarter. GAMMA Investing LLC now owns 859 shares of the semiconductor company’s stock valued at $107,000 after buying an additional 385 shares during the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

Cirrus Logic Stock Up 2.1 %

Cirrus Logic stock opened at $103.50 on Wednesday. The firm has a market capitalization of $5.50 billion, a price-to-earnings ratio of 17.54 and a beta of 0.93. Cirrus Logic, Inc. has a 52-week low of $75.92 and a 52-week high of $147.46. The company has a fifty day simple moving average of $103.31 and a 200-day simple moving average of $119.96.

Cirrus Logic (NASDAQ:CRUS) last issued its earnings results on Monday, November 4th. The semiconductor company reported $2.25 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.23. The business had revenue of $541.90 million for the quarter, compared to analysts’ expectations of $520.53 million. Cirrus Logic had a return on equity of 18.15% and a net margin of 17.19%. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.43 EPS. On average, research analysts anticipate that Cirrus Logic, Inc. will post 5.21 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on CRUS. StockNews.com upgraded 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 Cirrus Logic in a research report on Tuesday, November 12th. They set a “buy” rating and a $130.00 price target on the stock. Stifel Nicolaus decreased their price target on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Susquehanna increased their price target on shares of Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a report on Monday, November 18th. Finally, Barclays lowered their target price on shares of 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 research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.