Kovitz Investment Group Partners LLC Grows Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Kovitz Investment Group Partners LLC grew its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 16.6% during the third quarter, Holdings Channel.com reports. The fund owned 3,752 shares of the semiconductor company’s stock after acquiring an additional 535 shares during the period. Kovitz Investment Group Partners LLC’s holdings in Cirrus Logic were worth $425,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Huntington National Bank grew its holdings in shares of Cirrus Logic by 10,500.0% in the third quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 210 shares in the last quarter. 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 worth $30,000 after acquiring an additional 120 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Cirrus Logic in the 3rd quarter valued at approximately $31,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Cirrus Logic in the 2nd quarter valued at approximately $77,000. Finally, GAMMA Investing LLC increased its position in shares of Cirrus Logic by 81.2% in the 3rd quarter. GAMMA Investing LLC now owns 859 shares of the semiconductor company’s stock valued at $107,000 after purchasing an additional 385 shares during the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Susquehanna increased their target price on shares of Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a research report on Monday, November 18th. Barclays dropped 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 report on Tuesday, November 5th. StockNews.com raised shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Loop Capital assumed coverage on shares of Cirrus Logic in a research report on Tuesday, November 12th. They issued a “buy” rating and a $130.00 target price on the stock. Finally, Stifel Nicolaus dropped their target price on shares of 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 analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Cirrus Logic currently has a consensus rating of “Moderate Buy” and an average target price of $132.50.

Cirrus Logic Price Performance

Shares of NASDAQ:CRUS opened at $106.44 on Friday. The stock has a market cap of $5.66 billion, a P/E ratio of 18.04 and a beta of 0.93. The firm has a fifty day moving average price of $111.02 and a 200 day moving average price of $122.83. Cirrus Logic, Inc. has a 1-year low of $75.92 and a 1-year high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings results on Monday, November 4th. The semiconductor company reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.23. The firm had revenue of $541.90 million during the quarter, compared to analysts’ expectations of $520.53 million. Cirrus Logic had a net margin of 17.19% and a return on equity of 18.15%. Cirrus Logic’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.43 EPS. Sell-side analysts expect 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.