Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Sold by EMC Capital Management

EMC Capital Management lessened its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) by 38.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 3,688 shares of the semiconductor company’s stock after selling 2,312 shares during the quarter. EMC Capital Management’s holdings in Cirrus Logic were worth $367,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Huntington National Bank raised its position in 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 during the period. Nisa Investment Advisors LLC grew its stake in shares of 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 buying an additional 120 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Cirrus Logic during the 3rd quarter valued at about $31,000. Westside Investment Management Inc. acquired a new position in Cirrus Logic during the 3rd quarter worth approximately $35,000. Finally, Sound Income Strategies LLC acquired a new position in Cirrus Logic during the 4th quarter worth approximately $46,000. Institutional investors and hedge funds own 87.96% of the company’s stock.

Cirrus Logic Price Performance

Shares of CRUS stock opened at $99.13 on Thursday. The firm has a fifty day moving average of $102.90 and a two-hundred day moving average of $117.46. The firm has a market cap of $5.27 billion, a P/E ratio of 16.86 and a beta of 0.92. Cirrus Logic, Inc. has a 1-year low of $75.92 and a 1-year high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings results 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 return on equity of 18.15% and a net margin of 17.19%. The business had revenue of $541.90 million during the quarter, compared to the consensus estimate of $520.53 million. During the same period last year, the firm earned $1.43 earnings per share. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. On average, sell-side analysts expect that Cirrus Logic, Inc. will post 5.21 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CRUS shares. Loop Capital started coverage on shares of Cirrus Logic in a research note on Tuesday, November 12th. They set a “buy” rating and a $130.00 price objective on the stock. StockNews.com raised shares of Cirrus Logic from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Susquehanna boosted their price objective on shares of Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a report on Monday, November 18th. Stifel Nicolaus lowered their target price on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Finally, Barclays cut their price target on Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $132.50.

Cirrus Logic Company 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.