Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lessened its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 2.5% in the third quarter, Holdings Channel reports. The institutional investor owned 1,577,846 shares of the semiconductor company’s stock after selling 40,191 shares during the quarter. Wellington Management Group LLP’s holdings in Cirrus Logic were worth $195,984,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in CRUS. Huntington National Bank increased its position in shares of Cirrus Logic by 10,500.0% in the 3rd quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 210 shares during the last quarter. Nisa Investment Advisors LLC raised its stake 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 buying an additional 120 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in Cirrus Logic during the third quarter valued at approximately $31,000. 1620 Investment Advisors Inc. bought a new position in Cirrus Logic during the 2nd quarter worth approximately $77,000. Finally, GAMMA Investing LLC grew its position in shares of Cirrus Logic by 81.2% in the 3rd quarter. GAMMA Investing LLC now owns 859 shares of the semiconductor company’s stock worth $107,000 after acquiring an additional 385 shares in the last quarter. 87.96% of the stock is currently owned by institutional investors.

Cirrus Logic Stock Up 0.5 %

CRUS stock opened at $104.44 on Monday. The stock has a market cap of $5.55 billion, a PE ratio of 17.70 and a beta of 0.93. The firm’s 50-day simple moving average is $112.20 and its 200 day simple moving average is $123.18. Cirrus Logic, Inc. has a fifty-two week low of $75.92 and a fifty-two week high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly 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 company 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%. Cirrus Logic’s revenue was up 12.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.43 earnings per share. Equities analysts forecast that Cirrus Logic, Inc. will post 5.21 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Susquehanna upped their price target on Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a research report on Monday, November 18th. Barclays reduced their price target on shares of Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 5th. Stifel Nicolaus lowered their price objective on shares of Cirrus Logic from $165.00 to $140.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. StockNews.com upgraded shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. Finally, Loop Capital started coverage on Cirrus Logic in a research note on Tuesday, November 12th. They issued a “buy” rating and a $130.00 target price for the company. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average 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.