Bartlett & CO. Wealth Management LLC Grows Stock Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Bartlett & CO. Wealth Management LLC lifted its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 40.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 700 shares of the semiconductor company’s stock after purchasing an additional 200 shares during the period. Bartlett & CO. Wealth Management LLC’s holdings in Cirrus Logic were worth $70,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CRUS. Huntington National Bank lifted its holdings in Cirrus Logic by 10,500.0% during the 3rd 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 last quarter. Nisa Investment Advisors LLC lifted its holdings in Cirrus Logic by 98.4% during 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 last quarter. V Square Quantitative Management LLC purchased a new stake in Cirrus Logic during the 3rd quarter worth about $31,000. Westside Investment Management Inc. purchased a new stake in Cirrus Logic during the 3rd quarter worth about $35,000. Finally, GAMMA Investing LLC lifted its holdings in Cirrus Logic by 81.2% during the 3rd quarter. GAMMA Investing LLC now owns 859 shares of the semiconductor company’s stock worth $107,000 after buying an additional 385 shares during the last quarter. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CRUS has been the subject of a number of recent analyst reports. Susquehanna lifted their price target on Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a report on Monday, November 18th. Barclays reduced their target price on 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 raised Cirrus Logic from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Loop Capital began coverage on Cirrus Logic in a report on Tuesday, November 12th. They issued a “buy” rating and a $130.00 target price for the company. Finally, Stifel Nicolaus reduced their target price on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $132.50.

Cirrus Logic Stock Up 0.3 %

Shares of CRUS stock opened at $101.41 on Friday. The stock has a market capitalization of $5.39 billion, a PE ratio of 17.19 and a beta of 0.92. Cirrus Logic, Inc. has a 52-week low of $75.92 and a 52-week high of $147.46. The stock’s 50-day moving average price is $102.97 and its 200 day moving average price is $118.35.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings results on Monday, November 4th. The semiconductor company reported $2.25 earnings per share (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 analysts’ expectations of $520.53 million. Cirrus Logic had a return on equity of 18.15% and a net margin of 17.19%. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.43 EPS. Analysts expect that Cirrus Logic, Inc. will post 5.21 earnings per share for the current fiscal year.

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.