Paloma Partners Management Co Boosts Stock Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Paloma Partners Management Co lifted its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) by 6.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 4,258 shares of the semiconductor company’s stock after acquiring an additional 258 shares during the quarter. Paloma Partners Management Co’s holdings in Cirrus Logic were worth $529,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CRUS. Huntington National Bank lifted its holdings in Cirrus Logic by 10,500.0% during the third quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock worth $26,000 after buying an additional 210 shares during the period. Nisa Investment Advisors LLC grew its stake in Cirrus Logic by 98.4% in 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 Cirrus Logic in the third quarter worth about $31,000. GAMMA Investing LLC lifted its position in shares of Cirrus Logic by 79.5% during the second quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company’s stock valued at $61,000 after buying an additional 210 shares during the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new stake in Cirrus Logic in the second quarter valued at approximately $77,000. 87.96% of the stock is currently owned by institutional investors.

Cirrus Logic Stock Performance

NASDAQ:CRUS opened at $105.60 on Wednesday. The firm’s fifty day moving average is $113.57 and its two-hundred day moving average is $123.42. The firm has a market cap of $5.61 billion, a price-to-earnings ratio of 17.90 and a beta of 0.93. Cirrus Logic, Inc. has a one year low of $75.57 and a one year high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last posted 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 firm had revenue of $541.90 million for the quarter, compared to analyst estimates of $520.53 million. Cirrus Logic had a return on equity of 18.15% and a net margin of 17.19%. During the same period last year, the company earned $1.43 earnings per share. Cirrus Logic’s revenue for the quarter was up 12.6% compared to the same quarter last year. As a group, equities research analysts predict that Cirrus Logic, Inc. will post 5.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Susquehanna upped 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, November 18th. Loop Capital initiated 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. KeyCorp upped their target price on Cirrus Logic from $155.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Barclays lowered their price target on Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 5th. Finally, Stifel Nicolaus cut 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 equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Cirrus Logic presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.50.

Cirrus Logic Company 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.