FORA Capital LLC Takes Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

FORA Capital LLC purchased a new stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) during the 3rd quarter, Holdings Channel reports. The fund purchased 11,819 shares of the semiconductor company’s stock, valued at approximately $1,468,000.

Several other large investors have also made changes to their positions in the company. Stonegate Investment Group LLC lifted its stake in shares of Cirrus Logic by 5.3% during the third quarter. Stonegate Investment Group LLC now owns 1,776 shares of the semiconductor company’s stock valued at $221,000 after acquiring an additional 90 shares during the period. Atria Investments Inc boosted its holdings in Cirrus Logic by 2.9% during the third quarter. Atria Investments Inc now owns 3,596 shares of the semiconductor company’s stock worth $447,000 after buying an additional 101 shares during the last quarter. Profund Advisors LLC boosted its holdings in Cirrus Logic by 2.0% during the second quarter. Profund Advisors LLC now owns 5,271 shares of the semiconductor company’s stock worth $673,000 after buying an additional 103 shares during the last quarter. Arkadios Wealth Advisors boosted its holdings in Cirrus Logic by 2.8% during the second quarter. Arkadios Wealth Advisors now owns 4,413 shares of the semiconductor company’s stock worth $563,000 after buying an additional 119 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in Cirrus Logic by 98.4% during the third quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock worth $30,000 after buying an additional 120 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 equities analysts have issued reports on the company. Susquehanna raised their target price on Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a report on Monday, November 18th. Stifel Nicolaus reduced their target price on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. StockNews.com cut Cirrus Logic from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Barclays reduced 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. Finally, KeyCorp raised their target price on Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $132.50.

Cirrus Logic Price Performance

NASDAQ CRUS opened at $105.52 on Thursday. The firm has a market cap of $5.61 billion, a P/E ratio of 17.88 and a beta of 0.96. The stock’s 50-day moving average is $115.01 and its 200-day moving average is $123.56. Cirrus Logic, Inc. has a one year low of $74.83 and a one year high of $147.46.

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