Parametrica Management Ltd Invests $231,000 in Cirrus Logic, Inc. (NASDAQ:CRUS)

Parametrica Management Ltd purchased a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,857 shares of the semiconductor company’s stock, valued at approximately $231,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Stonegate Investment Group LLC raised its holdings 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 worth $221,000 after acquiring an additional 90 shares during the period. Atria Investments Inc increased its stake in shares of Cirrus Logic by 2.9% during the 3rd quarter. Atria Investments Inc now owns 3,596 shares of the semiconductor company’s stock worth $447,000 after purchasing an additional 101 shares during the last quarter. Profund Advisors LLC increased its stake in shares of Cirrus Logic by 2.0% during the 2nd quarter. Profund Advisors LLC now owns 5,271 shares of the semiconductor company’s stock worth $673,000 after purchasing an additional 103 shares during the last quarter. Arkadios Wealth Advisors increased its stake in shares of Cirrus Logic by 2.8% during the 2nd quarter. Arkadios Wealth Advisors now owns 4,413 shares of the semiconductor company’s stock worth $563,000 after purchasing an additional 119 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in shares of Cirrus Logic by 98.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 120 shares during the last quarter. 87.96% of the stock is owned by institutional investors.

Cirrus Logic Trading Down 1.3 %

NASDAQ CRUS traded down $1.39 during trading on Wednesday, reaching $103.28. The company’s stock had a trading volume of 70,695 shares, compared to its average volume of 508,920. The firm has a market capitalization of $5.49 billion, a price-to-earnings ratio of 17.74 and a beta of 0.96. Cirrus Logic, Inc. has a 12 month low of $73.74 and a 12 month high of $147.46. The firm has a 50 day moving average price of $121.00 and a 200 day moving average price of $122.87.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings data 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. The firm had revenue of $541.90 million during 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 for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.43 EPS. On average, equities analysts forecast that Cirrus Logic, Inc. will post 5.21 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. 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 objective on the stock. KeyCorp lifted their target price on shares of Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Susquehanna reduced their target price on shares of Cirrus Logic from $160.00 to $135.00 and set a “positive” rating for the company in a report on Tuesday, November 5th. Stifel Nicolaus reduced their target price on shares of Cirrus Logic from $165.00 to $140.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Finally, Barclays reduced their target price on shares of Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating for the company in a report on Tuesday, November 5th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.67.

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.