Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Sold by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB cut its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 6.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 8,018 shares of the semiconductor company’s stock after selling 537 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Cirrus Logic were worth $996,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its holdings in Cirrus Logic by 18.5% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 4,104 shares of the semiconductor company’s stock worth $524,000 after acquiring an additional 640 shares during the period. Raymond James & Associates grew its stake in shares of Cirrus Logic by 67.4% in the 2nd quarter. Raymond James & Associates now owns 22,540 shares of the semiconductor company’s stock worth $2,877,000 after purchasing an additional 9,075 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of Cirrus Logic by 1.1% in the 2nd quarter. Fifth Third Bancorp now owns 25,913 shares of the semiconductor company’s stock worth $3,308,000 after purchasing an additional 289 shares in the last quarter. Fifth Third Wealth Advisors LLC acquired a new stake in Cirrus Logic during the second quarter valued at approximately $223,000. Finally, 1620 Investment Advisors Inc. bought a new stake in Cirrus Logic during the second quarter worth approximately $77,000. Institutional investors own 87.96% of the company’s stock.

Cirrus Logic Trading Up 0.3 %

Shares of Cirrus Logic stock opened at $106.71 on Friday. Cirrus Logic, Inc. has a 1 year low of $75.92 and a 1 year high of $147.46. The company has a market cap of $5.67 billion, a P/E ratio of 18.09 and a beta of 0.93. The stock has a 50-day moving average price of $110.76 and a 200 day moving average price of $122.82.

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Susquehanna upped their price target on Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a report on Monday, November 18th. StockNews.com raised Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Loop Capital initiated coverage on Cirrus Logic in a research report on Tuesday, November 12th. They issued a “buy” rating and a $130.00 price target for the company. Stifel Nicolaus cut their price objective on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Finally, Barclays reduced their price objective on shares of 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. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $132.50.

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.