Daiwa Securities Group Inc. Buys Shares of 2,300 Cirrus Logic, Inc. (NASDAQ:CRUS)

Daiwa Securities Group Inc. purchased a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 2,300 shares of the semiconductor company’s stock, valued at approximately $286,000.

Several other institutional investors have also made changes to their positions in the company. Huntington National Bank increased its holdings in shares of Cirrus Logic by 10,500.0% during the 3rd quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 210 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in Cirrus Logic by 98.4% during the third quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 120 shares during the last quarter. V Square Quantitative Management LLC bought a new position in shares of Cirrus Logic in the third quarter valued at approximately $31,000. Versant Capital Management Inc lifted its stake in shares of Cirrus Logic by 1,911.1% in the second quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company’s stock worth $46,000 after buying an additional 344 shares during the last quarter. Finally, 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 worth $61,000 after buying an additional 210 shares during the period. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Cirrus Logic Trading Down 1.0 %

CRUS opened at $104.45 on Monday. The stock’s 50 day simple moving average is $113.90 and its 200-day simple moving average is $123.37. The stock has a market cap of $5.55 billion, a PE ratio of 17.70 and a beta of 0.96. Cirrus Logic, Inc. has a 1 year low of $74.83 and a 1 year high of $147.46.

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Stifel Nicolaus decreased their price target 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. StockNews.com downgraded Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Loop Capital assumed coverage on Cirrus Logic in a research report on Tuesday, November 12th. They issued a “buy” rating and a $130.00 price target on the stock. KeyCorp increased their price objective on Cirrus Logic from $155.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Finally, Susquehanna boosted their target price on shares of Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a research report on Monday, November 18th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.