Penserra Capital Management LLC Has $4.20 Million Stock Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Penserra Capital Management LLC decreased its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 1.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,782 shares of the semiconductor company’s stock after selling 397 shares during the quarter. Penserra Capital Management LLC owned about 0.06% of Cirrus Logic worth $4,196,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Huntington National Bank raised its position in Cirrus Logic by 10,500.0% during the third quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 210 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Cirrus Logic by 98.4% in the 3rd 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. V Square Quantitative Management LLC acquired a new stake in Cirrus Logic in the 3rd quarter valued at about $31,000. Versant Capital Management Inc lifted its stake in Cirrus Logic by 1,911.1% in the 2nd quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company’s stock valued at $46,000 after purchasing an additional 344 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in Cirrus Logic by 79.5% during the second quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company’s stock worth $61,000 after purchasing an additional 210 shares during the period. Institutional investors own 87.96% of the company’s stock.

Cirrus Logic Trading Up 2.2 %

NASDAQ CRUS opened at $104.82 on Monday. The company has a market cap of $5.57 billion, a price-to-earnings ratio of 17.77 and a beta of 0.96. The company has a 50 day moving average of $115.66 and a 200-day moving average of $123.51. Cirrus Logic, Inc. has a 1-year low of $74.83 and a 1-year high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last released its earnings results on Monday, November 4th. The semiconductor company reported $2.25 earnings per share 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 firm had revenue of $541.90 million during the quarter, compared to the consensus estimate of $520.53 million. During the same period in the prior year, the company posted $1.43 EPS. The company’s revenue was up 12.6% compared to the same quarter last year. On average, equities research analysts forecast that Cirrus Logic, Inc. will post 5.21 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on CRUS. Loop Capital started coverage on Cirrus Logic in a research report on Tuesday, November 12th. They issued a “buy” rating and a $130.00 price objective for the company. Susquehanna raised 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. Barclays decreased their price objective on shares of Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 5th. KeyCorp raised their target price 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, StockNews.com lowered shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.