Sanctuary Advisors LLC Raises Stock Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Sanctuary Advisors LLC lifted its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 50.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,850 shares of the semiconductor company’s stock after acquiring an additional 3,948 shares during the quarter. Sanctuary Advisors LLC’s holdings in Cirrus Logic were worth $1,472,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Huntington National Bank increased its position in Cirrus Logic by 10,500.0% during the third quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 210 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Cirrus Logic by 98.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 120 shares during the last quarter. V Square Quantitative Management LLC bought a new position in shares of Cirrus Logic in the 3rd quarter worth approximately $31,000. Westside Investment Management Inc. purchased a new position in shares of Cirrus Logic in the third quarter worth approximately $35,000. Finally, GAMMA Investing LLC grew its position in Cirrus Logic by 81.2% during 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 period. 87.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. 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 research report on Monday, November 18th. Barclays decreased their target price on Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 5th. Loop Capital started coverage on Cirrus Logic in a report on Tuesday, November 12th. They set 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. 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 research report on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Cirrus Logic has an average rating of “Moderate Buy” and an average price target of $132.50.

Cirrus Logic Stock Up 0.4 %

NASDAQ:CRUS opened at $100.56 on Friday. The business’s 50-day simple moving average is $109.42 and its two-hundred day simple moving average is $122.42. Cirrus Logic, Inc. has a 52 week low of $75.92 and a 52 week high of $147.46. The stock has a market cap of $5.34 billion, a PE ratio of 17.04 and a beta of 0.93.

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

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.