Penserra Capital Management LLC Has $4.20 Million Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Penserra Capital Management LLC trimmed its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) by 1.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,782 shares of the semiconductor company’s stock after selling 397 shares during the quarter. Penserra Capital Management LLC’s holdings in Cirrus Logic were worth $4,196,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cerity Partners LLC boosted its holdings in shares of Cirrus Logic by 401.4% during the 3rd quarter. Cerity Partners LLC now owns 19,869 shares of the semiconductor company’s stock worth $2,468,000 after buying an additional 15,906 shares in the last quarter. Meridian Wealth Management LLC acquired a new position in shares of Cirrus Logic during the 3rd quarter valued at $264,000. Citigroup Inc. boosted its stake in Cirrus Logic by 137.1% during the third quarter. Citigroup Inc. now owns 32,650 shares of the semiconductor company’s stock worth $4,055,000 after acquiring an additional 18,877 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Cirrus Logic by 21.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 720,771 shares of the semiconductor company’s stock worth $89,527,000 after purchasing an additional 129,457 shares during the period. Finally, Pacer Advisors Inc. increased its stake in Cirrus Logic by 32.3% in the third 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 in the last quarter. Institutional investors own 87.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CRUS. StockNews.com downgraded Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Barclays reduced their price objective on Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 5th. Susquehanna upped their target price on 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 started coverage on shares of Cirrus Logic in a research report on Tuesday, November 12th. They issued a “buy” rating and a $130.00 price target for the company. Finally, KeyCorp upped their price objective on shares of Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $132.50.

Cirrus Logic Price Performance

NASDAQ CRUS opened at $104.82 on Monday. The company has a fifty day moving average price of $115.66 and a 200-day moving average price of $123.51. The firm has a market cap of $5.57 billion, a price-to-earnings ratio of 17.77 and a beta of 0.96. Cirrus Logic, Inc. has a 1 year low of $74.83 and a 1 year high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings data on Monday, November 4th. The semiconductor company reported $2.25 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $520.53 million. During the same quarter last year, the business posted $1.43 EPS. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. On average, research analysts anticipate that Cirrus Logic, Inc. will post 5.21 EPS for the current fiscal year.

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.