3,344 Shares in Cirrus Logic, Inc. (NASDAQ:CRUS) Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. bought a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,344 shares of the semiconductor company’s stock, valued at approximately $415,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Venturi Wealth Management LLC grew its stake in Cirrus Logic by 44.2% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,090 shares of the semiconductor company’s stock worth $135,000 after buying an additional 334 shares in the last quarter. Meritage Portfolio Management raised its holdings in Cirrus Logic by 8.7% in the 3rd quarter. Meritage Portfolio Management now owns 3,538 shares of the semiconductor company’s stock worth $439,000 after purchasing an additional 284 shares in the last quarter. Crossmark Global Holdings Inc. raised its holdings in Cirrus Logic by 15.9% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 31,302 shares of the semiconductor company’s stock worth $3,888,000 after purchasing an additional 4,294 shares in the last quarter. Atria Investments Inc raised its holdings in Cirrus Logic by 2.9% in 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 in the last quarter. Finally, Hanseatic Management Services Inc. bought a new position in shares of Cirrus Logic in the 3rd quarter worth about $863,000. Institutional investors own 87.96% of the company’s stock.

Cirrus Logic Stock Performance

CRUS stock opened at $100.22 on Thursday. The firm has a market cap of $5.33 billion, a price-to-earnings ratio of 16.99 and a beta of 0.96. The firm has a 50-day simple moving average of $116.86 and a two-hundred day simple moving average of $123.18. Cirrus Logic, Inc. has a one year low of $74.80 and a one year high of $147.46.

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

Analyst Ratings Changes

Several analysts recently commented on CRUS shares. KeyCorp increased their price objective on shares of Cirrus Logic from $155.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. StockNews.com downgraded shares of Cirrus Logic from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Loop Capital assumed coverage on shares of Cirrus Logic in a research note on Tuesday, November 12th. They set a “buy” rating and a $130.00 price target on the stock. Susquehanna upped their price target on shares of Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a research note on Monday. Finally, Stifel Nicolaus cut their price objective on shares of Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.