Sanctuary Advisors LLC Purchases 3,948 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Sanctuary Advisors LLC grew its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 50.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,850 shares of the semiconductor company’s stock after acquiring an additional 3,948 shares during the period. Sanctuary Advisors LLC’s holdings in Cirrus Logic were worth $1,472,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Pacer Advisors Inc. raised its position in Cirrus Logic by 8,183.4% during the 2nd quarter. Pacer Advisors Inc. now owns 665,320 shares of the semiconductor company’s stock valued at $84,935,000 after purchasing an additional 657,288 shares during the last quarter. LSV Asset Management increased its stake in shares of Cirrus Logic by 34.6% during the second quarter. LSV Asset Management now owns 1,890,493 shares of the semiconductor company’s stock valued at $241,340,000 after buying an additional 486,086 shares during the period. FMR LLC raised its holdings in shares of Cirrus Logic by 6.3% during the third quarter. FMR LLC now owns 3,678,141 shares of the semiconductor company’s stock valued at $456,862,000 after acquiring an additional 217,404 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Cirrus Logic during the third quarter valued at approximately $16,340,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Cirrus Logic by 21.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 720,771 shares of the semiconductor company’s stock worth $89,527,000 after acquiring an additional 129,457 shares during the period. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CRUS. Susquehanna boosted their price objective on shares of Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a research report on Monday, November 18th. StockNews.com upgraded shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. 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. Stifel Nicolaus dropped their price target on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Finally, Loop Capital began coverage on Cirrus Logic in a research report on Tuesday, November 12th. They set a “buy” rating and a $130.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. 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 Trading Up 0.4 %

Shares of NASDAQ:CRUS opened at $100.56 on Friday. Cirrus Logic, Inc. has a 12-month low of $75.92 and a 12-month high of $147.46. The stock has a fifty day simple moving average of $109.42 and a two-hundred day simple moving average of $122.42. The stock has a market capitalization of $5.34 billion, a price-to-earnings ratio of 17.04 and a beta of 0.93.

Cirrus Logic (NASDAQ:CRUS) last issued its earnings results on Monday, November 4th. The semiconductor company reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.23. The firm had revenue of $541.90 million for the quarter, compared to the consensus estimate of $520.53 million. Cirrus Logic had a net margin of 17.19% and a return on equity of 18.15%. The business’s revenue was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.43 earnings per share. As a group, equities research analysts predict that Cirrus Logic, Inc. will post 5.21 EPS 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.