Atria Investments Inc Boosts Stake in Cirrus Logic, Inc. (NASDAQ:CRUS)

Atria Investments Inc increased its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 2.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,596 shares of the semiconductor company’s stock after buying an additional 101 shares during the period. Atria Investments Inc’s holdings in Cirrus Logic were worth $447,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Nisa Investment Advisors LLC boosted its holdings in Cirrus Logic by 98.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock worth $30,000 after buying an additional 120 shares during the period. V Square Quantitative Management LLC bought a new position in shares of Cirrus Logic during the 3rd quarter valued at about $31,000. Versant Capital Management Inc boosted its holdings in shares of Cirrus Logic by 1,911.1% during 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. GAMMA Investing LLC boosted its holdings in shares of Cirrus Logic by 79.5% during the 2nd quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company’s stock valued at $61,000 after purchasing an additional 210 shares during the last quarter. Finally, 1620 Investment Advisors Inc. bought a new position in shares of Cirrus Logic during the 2nd quarter valued at about $77,000. Institutional investors own 87.96% of the company’s stock.

Cirrus Logic Trading Down 0.4 %

Shares of NASDAQ:CRUS opened at $100.22 on Thursday. Cirrus Logic, Inc. has a 12 month low of $74.80 and a 12 month high of $147.46. The company has a 50-day moving average price of $116.86 and a 200 day moving average price of $123.18. The company has a market cap of $5.33 billion, a price-to-earnings ratio of 16.99 and a beta of 0.96.

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

Analysts Set New Price Targets

Several research analysts have 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 report on Wednesday, August 7th. Susquehanna increased their price objective on shares of Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a report on Monday. Barclays dropped their price objective 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. StockNews.com downgraded shares of Cirrus Logic from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, Loop Capital assumed coverage on shares of Cirrus Logic in a report on Tuesday, November 12th. They issued a “buy” rating and a $130.00 price target for the company. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cirrus Logic presently 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.