Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Sold by LMR Partners LLP

LMR Partners LLP cut its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 75.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 50,000 shares of the semiconductor company’s stock after selling 150,000 shares during the period. LMR Partners LLP’s holdings in Cirrus Logic were worth $6,210,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CRUS. Stonegate Investment Group LLC lifted its position in Cirrus Logic by 5.3% during the 3rd quarter. Stonegate Investment Group LLC now owns 1,776 shares of the semiconductor company’s stock worth $221,000 after acquiring an additional 90 shares during the period. Atria Investments Inc grew its holdings in shares of Cirrus Logic by 2.9% during the 3rd quarter. Atria Investments Inc now owns 3,596 shares of the semiconductor company’s stock worth $447,000 after purchasing an additional 101 shares during the period. Profund Advisors LLC increased its holdings in Cirrus Logic by 2.0% in the 2nd quarter. Profund Advisors LLC now owns 5,271 shares of the semiconductor company’s stock valued at $673,000 after purchasing an additional 103 shares in the last quarter. Arkadios Wealth Advisors boosted its holdings in Cirrus Logic by 2.8% in the 2nd quarter. Arkadios Wealth Advisors now owns 4,413 shares of the semiconductor company’s stock worth $563,000 after acquiring an additional 119 shares during the period. Finally, Nisa Investment Advisors LLC grew its holdings in 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 in the last quarter. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Analysts Set New Price Targets

CRUS has been the subject of several research analyst reports. Stifel Nicolaus dropped their target price on shares of Cirrus Logic from $165.00 to $140.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. KeyCorp lifted their price target on Cirrus Logic from $155.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Loop Capital started coverage on Cirrus Logic in a research note on Tuesday, November 12th. They issued a “buy” rating and a $130.00 price objective on the stock. Barclays reduced their target price on shares of Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating for the company in a report on Tuesday, November 5th. Finally, Susquehanna upped their price target on shares of Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a research report on Monday. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Cirrus Logic presently has an average rating of “Moderate Buy” and an average price target of $132.50.

Cirrus Logic Stock Up 0.4 %

Shares of CRUS stock opened at $101.06 on Tuesday. The stock has a 50-day moving average price of $118.20 and a 200 day moving average price of $123.26. The firm has a market cap of $5.37 billion, a price-to-earnings ratio of 17.13 and a beta of 0.96. Cirrus Logic, Inc. has a 12 month low of $74.80 and a 12 month high of $147.46.

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