Cirrus Logic, Inc. (NASDAQ:CRUS) Position Increased by Tidal Investments LLC

Tidal Investments LLC increased its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 118.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,767 shares of the semiconductor company’s stock after acquiring an additional 8,016 shares during the period. Tidal Investments LLC’s holdings in Cirrus Logic were worth $1,834,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its position in Cirrus Logic by 18.5% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 4,104 shares of the semiconductor company’s stock worth $524,000 after buying an additional 640 shares during the last quarter. Raymond James & Associates increased its position in Cirrus Logic by 67.4% during the second quarter. Raymond James & Associates now owns 22,540 shares of the semiconductor company’s stock worth $2,877,000 after buying an additional 9,075 shares during the last quarter. Fifth Third Bancorp increased its position in Cirrus Logic by 1.1% during the second quarter. Fifth Third Bancorp now owns 25,913 shares of the semiconductor company’s stock worth $3,308,000 after buying an additional 289 shares during the last quarter. Fifth Third Wealth Advisors LLC acquired a new stake in shares of Cirrus Logic in the second quarter valued at about $223,000. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of Cirrus Logic in the second quarter valued at about $77,000. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Cirrus Logic Price Performance

Shares of CRUS opened at $103.31 on Wednesday. The company has a market capitalization of $5.49 billion, a P/E ratio of 17.51 and a beta of 0.93. Cirrus Logic, Inc. has a one year low of $75.92 and a one year high of $147.46. The business’s 50 day simple moving average is $110.22 and its 200-day simple moving average is $122.73.

Cirrus Logic (NASDAQ:CRUS) last announced its earnings results on Monday, November 4th. The semiconductor company reported $2.25 EPS for the quarter, topping the consensus estimate of $2.02 by $0.23. The business had revenue of $541.90 million for the quarter, compared to the consensus estimate of $520.53 million. Cirrus Logic had a return on equity of 18.15% and a net margin of 17.19%. Cirrus Logic’s revenue was up 12.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.43 EPS. On average, sell-side analysts anticipate that Cirrus Logic, Inc. will post 5.21 EPS for the current fiscal 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.