GAMMA Investing LLC Sells 115 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

GAMMA Investing LLC lowered its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 13.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 744 shares of the semiconductor company’s stock after selling 115 shares during the period. GAMMA Investing LLC’s holdings in Cirrus Logic were worth $74,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its stake in shares of Cirrus Logic by 21.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 720,771 shares of the semiconductor company’s stock worth $89,527,000 after acquiring an additional 129,457 shares during the period. Geode Capital Management LLC lifted its holdings in Cirrus Logic by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,138,279 shares of the semiconductor company’s stock valued at $141,414,000 after purchasing an additional 50,582 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Cirrus Logic by 52.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 961 shares of the semiconductor company’s stock worth $123,000 after purchasing an additional 329 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Cirrus Logic by 30.4% in the third quarter. JPMorgan Chase & Co. now owns 296,357 shares of the semiconductor company’s stock valued at $36,811,000 after purchasing an additional 69,006 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC increased its holdings in shares of Cirrus Logic by 741.0% in the second quarter. Susquehanna Fundamental Investments LLC now owns 27,754 shares of the semiconductor company’s stock valued at $3,543,000 after purchasing an additional 24,454 shares during the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on CRUS shares. 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. Loop Capital began coverage on Cirrus Logic in a report on Tuesday, November 12th. They set a “buy” rating and a $130.00 price objective for the company. Susquehanna upped their target price on Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a research report on Monday, November 18th. StockNews.com raised Cirrus Logic from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Finally, Stifel Nicolaus decreased their price objective on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $132.50.

Cirrus Logic Stock Performance

NASDAQ:CRUS opened at $101.14 on Friday. Cirrus Logic, Inc. has a fifty-two week low of $75.92 and a fifty-two week high of $147.46. The company has a market cap of $5.37 billion, a price-to-earnings ratio of 17.14 and a beta of 0.92. The stock has a fifty day moving average price of $103.52 and a 200-day moving average price of $120.20.

Cirrus Logic (NASDAQ:CRUS) last released its earnings results 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 for 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%. The business’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same period last year, the firm earned $1.43 EPS. Research analysts predict 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.