14,109 Shares in Cirrus Logic, Inc. (NASDAQ:CRUS) Bought by Sheaff Brock Investment Advisors LLC

Sheaff Brock Investment Advisors LLC purchased a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) during the 3rd quarter, Holdings Channel.com reports. The firm purchased 14,109 shares of the semiconductor company’s stock, valued at approximately $1,752,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Stonegate Investment Group LLC raised its stake 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 in the last quarter. Atria Investments Inc increased its stake in Cirrus Logic by 2.9% in the third quarter. Atria Investments Inc now owns 3,596 shares of the semiconductor company’s stock valued at $447,000 after purchasing an additional 101 shares during the period. Profund Advisors LLC increased its stake in Cirrus Logic by 2.0% in the second 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 during the period. Arkadios Wealth Advisors increased its stake in Cirrus Logic by 2.8% in the second quarter. Arkadios Wealth Advisors now owns 4,413 shares of the semiconductor company’s stock valued at $563,000 after purchasing an additional 119 shares during the period. Finally, Nisa Investment Advisors LLC increased its stake in Cirrus Logic by 98.4% in the third 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 period. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CRUS shares. StockNews.com lowered shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Stifel Nicolaus dropped their price target on shares of Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Loop Capital started coverage on shares of Cirrus Logic in a research note on Tuesday. They set a “buy” rating and a $130.00 price target on the stock. KeyCorp boosted their price target on shares of Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Finally, Susquehanna dropped their price target on shares of Cirrus Logic from $160.00 to $135.00 and set a “positive” rating on the stock in a research note on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $131.67.

Cirrus Logic Trading Up 1.1 %

CRUS stock opened at $101.50 on Friday. The company has a market cap of $5.39 billion, a P/E ratio of 17.20 and a beta of 0.96. Cirrus Logic, Inc. has a 52 week low of $74.80 and a 52 week high of $147.46. The company’s 50-day moving average price is $119.50 and its 200 day moving average price is $122.57.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings data on Monday, November 4th. The semiconductor company reported $2.25 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 firm had revenue of $541.90 million for the quarter, compared to the consensus estimate of $520.53 million. During the same quarter in the previous year, the firm earned $1.43 earnings per share. The firm’s revenue was up 12.6% on a year-over-year basis. On average, equities research analysts expect that Cirrus Logic, Inc. will post 5.21 earnings per share for the current 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.